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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net income $ 2,818 $ 15,540
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,234 1,164
Amortization of deferred loan fees (1,215) (1,330)
Net amortization of premiums and discounts (189) 412
Reversal of provision for loan losses (650) (350)
Write-downs and losses on real estate acquired through foreclosure, net of gains 103 176
Gain on sale of mortgage loans (1,507) (3,654)
Proceeds from sale of mortgage loans held for sale 67,396 153,644
Originations of loans held for sale (60,772) (147,094)
Stock-based compensation 205 184
Increase in cash surrender value of bank-owned life insurance (64) 0
Deferred income taxes 4,794 (10,081)
(Increase) decrease in accrued interest receivable (391) 31
Decrease in other assets 244 1,823
Decrease in accrued expenses and other liabilities (1,125) (2,844)
Net cash provided by operating activities 10,881 7,621
Cash flows from investing activities:    
Purchase of certificates of deposit held for investment (8,680) (100)
Loan principal (disbursements), net of repayments (56,497) (11,205)
Repurchases of loans previously sold (469) (343)
Redemption of restricted stock investments 614 693
Purchases of premises and equipment, net (342) (903)
Purchase of bank-owned life insurance (5,000) 0
Activity in securities held to maturity:    
Purchases (6,464) (3,562)
Maturities/calls/repayments 14,937 16,526
Activity in available-for-sale securities:    
Purchases (14,000) 0
Sales 4,000 0
Proceeds from sales of real estate acquired through foreclosure 1,170 2,170
Net cash (used in) provided by investing activities (70,731) 3,276
Cash flows from financing activities:    
Net increase in deposits 30,282 48,175
Additional borrowings 59,950 0
Repayment of borrowings (74,950) (15,000)
Repurchase of warrant (520) 0
Preferred stock dividends (280) (7,840)
Stock redemption of Series B preferred stock 0 (23,393)
Proceeds from common stock issuance 207 10,584
Net cash provided by financing activities 14,689 12,526
(Decrease) increase in cash and cash equivalents (45,161) 23,423
Cash and cash equivalents at beginning of period 67,014 43,591
Cash and cash equivalents at end of period 21,853 67,014
Supplemental Information:    
Interest paid on deposits and borrowed funds 7,773 11,160
Income taxes paid (refunded) 92 (1,457)
Real estate acquired in satisfaction of loans 703 1,575
Transfers of loans held for sale to portfolio $ 660 $ 0