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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES:    
Net income $ 3,192 $ 4,205
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 250 200
Net amortization of purchase premiums and discounts on securities 73 92
Depreciation and amortization 249 247
Deferred income tax (benefit) expense (5) 142
Net security gains 0 (94)
Gain on repurchase of subordinated debentures 0 (2,264)
Stock compensation expense 212 132
Loss (gain) on sale of OREO 253 (88)
Gain on sale of mortgage loans held for sale, net (454) (294)
Gain on sale of SBA loans held for sale, net (485) (308)
Origination of mortgage loans held for sale (25,654) (25,015)
Origination of SBA loans held for sale (2,451) (3,734)
Proceeds from sale of mortgage loans held for sale, net 26,108 25,309
Proceeds from sale of SBA loans held for sale, net 6,511 3,759
BOLI income (88) (94)
Net change in other assets and liabilities (905) 1,710
Net cash provided by operating activities 6,806 3,905
INVESTING ACTIVITIES    
Purchases of securities held to maturity 0 0
Purchases of securities available for sale (15,495) (2,142)
Purchases of FHLB stock, at cost (225) (1,395)
Maturities and principal payments on securities held to maturity 192 296
Maturities and principal payments on securities available for sale 3,611 3,949
Proceeds from sales of securities available for sale 0 2,564
Proceeds from redemption of FHLB stock 270 1,260
Proceeds from sale of OREO 21 1,224
Net (increase) decrease in loans (31,283) 1,078
Purchases of premises and equipment (210) (4,543)
Net cash (used in) provided by investing activities (43,119) 2,291
FINANCING ACTIVITIES    
Net increase in deposits 34,980 32,326
Proceeds from new borrowings 35,000 20,000
Repayments of borrowings (36,000) (17,000)
Repurchase of subordinated debentures 0 (2,891)
Proceeds from exercise of stock options 135 0
Dividends on common stock (493) (315)
Net cash provided by financing activities 33,622 32,120
(Decrease) increase in cash and cash equivalents (2,691) 38,316
Cash and cash equivalents, beginning of period 105,895 88,157
Cash and cash equivalents, end of period 103,204 126,473
SUPPLEMENTAL DISCLOSURES    
Interest paid 2,229 2,259
Income taxes paid 1,877 1,337
Noncash investing activities:    
Transfer of SBA loans held for sale to held to maturity 13 0
Capitalization of servicing rights 176 529
Transfer of loans to OREO $ 396 $ 852