XML 19 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 5,968 $ 3,166
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 966 919
Amortization of deferred loan fees (1,317) (847)
Net amortization of premiums and discounts 174 (202)
Reversal of provision for loan losses (300) (650)
Write-downs and losses on real estate acquired through foreclosure, net of gains 54 139
Gain on sale of mortgage loans (1,970) (1,150)
Gain on sale of securities   (2)
Proceeds from sale of mortgage loans held for sale 64,815 28,482
Originations of loans held for sale (67,338) (22,556)
Stock-based compensation 169 146
Increase in cash surrender value of bank-owned life insurance (122) (23)
Deferred income taxes 2,083 2,081
Increase in accrued interest receivable (49) (254)
Increase in other assets (1,408) (837)
Increase (decrease) in accrued expenses and other liabilities 2,808 (1,731)
Net cash provided by operating activities 4,533 6,681
Cash flows from investing activities:    
Purchase of certificates of deposit held for investment   (8,680)
Loan principal (disbursements), net of repayments (19,943) (40,265)
Redemption of restricted stock investments 623 404
Purchases of premises and equipment, net (758) (287)
Purchase of bank owned life insurance   (5,000)
Activity in securities held to maturity:    
Purchases   (6,679)
Maturities/calls/repayments 11,093 10,730
Activity in available-for-sale securities:    
Purchases (2,000) (7,184)
Maturities/calls/repayments   184
Sales   4,011
Proceeds from sales of real estate acquired through foreclosure 64 433
Net cash used in investing activities (10,921) (52,333)
Cash flows from financing activities:    
Net increase in deposits 91,949 21,546
Additional long-term borrowings 46,500 39,950
Repayments of long-term borrowings (61,500) (50,000)
Common stock dividends (1,128)  
Preferred stock dividends (70) (210)
Exercise of stock options 100 207
Net cash provided by financing activities 75,851 11,493
Increase (decrease) in cash and cash equivalents 69,463 (34,159)
Cash and cash equivalents at beginning of period 21,853 67,014
Cash and cash equivalents at end of period 91,316 32,855
Supplemental Information:    
Interest paid on deposits and borrowed funds 6,144 5,828
Income taxes paid $ 96 50
Real estate acquired in satisfaction of loans   703
Transfers of loans held for sale to portfolio   $ 660