XML 32 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 6,350,000 $ 2,956,000 $ 7,379,000
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for loan losses (645,000) (164,000) (6,998,000)
Depreciation 850,000 706,000 576,000
Amortization of premiums (discounts), net 47,000 (3,000) 18,000
Amortization of deferred loan fees (1,011,000) (964,000) (340,000)
Amortization of core deposit intangible 700,000 600,000 500,000
Amortization of purchased loan fair value adjustments (529,000) (657,000) 0
Amortization of mortgage servicing rights 601,000 555,000 517,000
Capitalized mortgage servicing rights (706,000) (547,000) (316,000)
Deferred income tax expense 3,128,000 1,722,000 4,566,000
Securities losses (gains), net 10,000 (6,000) 0
(Gains) losses on sales of real estate and premises (596,000) 218,000 (1,194,000)
Gain on sales of loans (2,618,000) (1,964,000) (1,828,000)
Proceeds from sales of loans held for sale 99,121,000 78,278,000 56,040,000
Disbursements on loans held for sale (79,783,000) (69,941,000) (41,557,000)
Amortization of restricted stock awards 177,000 447,000 240,000
Amortization of unearned ESOP shares 194,000 193,000 194,000
Earned ESOP shares priced above original cost 80,000 57,000 53,000
Stock option compensation expense 79,000 0 1,000
(Increase) decrease in accrued interest receivable (265,000) (346,000) 240,000
(Decrease) increase in accrued interest payable (9,000) 137,000 (53,000)
Increase in other assets (323,000) (239,000) (444,000)
Increase (decrease) in other liabilities 999,000 302,000 (265,000)
Other, net 270,000 52,000 515,000
Net cash provided by operating activities 25,513,000 10,820,000 17,344,000
Cash flows from investing activities:      
Proceeds from sales of securities available for sale 20,000 10,951,000 0
Principal collected on securities available for sale 1,245,000 1,694,000 2,148,000
Proceeds collected on maturity of securities available for sale 136,145,000 175,070,000 125,000,000
Purchases of securities available for sale (104,968,000) (144,069,000) (157,004,000)
Purchase of Federal Home Loan Bank stock (1,879,000) (2,152,000) 0
Redemption of Federal Home Loan Bank stock 1,800,000 2,238,000 7,000
Proceeds from sales of real estate and premises 2,369,000 1,127,000 4,816,000
Net (increase) decrease in loans receivable (89,570,000) (80,447,000) 13,455,000
Gain on acquisition 0 (289,000) 0
Acquisition payment (net of cash acquired) 6,080,000 4,816,000 0
Purchases of premises and equipment (1,607,000) (803,000) (847,000)
Net cash used by investing activities (50,365,000) (31,864,000) (12,425,000)
Cash flows from financing activities:      
Increase (decrease) in deposits 14,468,000 15,375,000 (57,182,000)
Redemption of preferred stock 0 (10,000,000) (16,000,000)
Dividends paid to preferred stockholders 0 (225,000) (5,964,000)
Proceeds from borrowings 45,000,000 65,000,000 0
Repayment of borrowings (47,000,000) (56,000,000) 0
Increase in customer escrows 163,000 42,000 175,000
Net cash provided (used) by financing activities 12,631,000 14,192,000 (78,971,000)
Decrease in cash and cash equivalents (12,221,000) (6,852,000) (74,052,000)
Cash and cash equivalents, beginning of year 39,782,000 46,634,000 120,686,000
Cash and cash equivalents, end of year 27,561,000 39,782,000 46,634,000
Supplemental cash flow disclosures:      
Cash paid for interest 1,599,000 1,358,000 1,264,000
Cash paid for income taxes 436,000 191,000 0
Supplemental noncash flow disclosures:      
Loans transferred to loans held for sale 15,002,000 8,125,000 13,243,000
Transfer of loans to real estate 591,000 110,000 142,000
Core Deposits [Member]      
Adjustments to reconcile net income to cash provided by operating activities:      
Amortization of core deposit intangible $ 92,000 $ 28,000 $ 0