XML 31 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 8,236 $ 4,404 $ 6,350
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for loan losses (649) (523) (645)
Depreciation 1,078 949 850
Amortization of premiums (discounts), net 16 (3) 47
Amortization of deferred loan fees (260) (240) (1,011)
Amortization of core deposit intangible 700 700 700
Amortization of purchased asset fair value adjustments (70) (85) (529)
Amortization of mortgage servicing rights 551 555 601
Capitalized mortgage servicing rights (682) (675) (706)
Deferred income tax expense 1,084 2,105 3,128
Reclassification of certain income tax effects from accumulated other comprehensive loss 0 158 0
Securities losses, net 36 0 10
Loss (gain) on sale of premises 11 (8) 0
Gains on real estate owned, net (80) (72) (596)
Gain on sales of loans (2,095) (2,138) (2,618)
Proceeds from sales of loans held for sale 88,649 90,127 99,121
Disbursements on loans held for sale (76,489) (78,751) (79,783)
Amortization of restricted stock awards 134 147 177
Amortization of unearned ESOP shares 194 193 194
Earned ESOP shares priced above original cost 206 147 80
Stock option compensation expense 17 41 79
(Increase) decrease in accrued interest receivable (12) 282 (265)
Increase (decrease) in accrued interest payable 200 (91) (9)
(Increase) decrease in other assets (1,343) 417 (323)
(Decrease) increase in other liabilities (1,024) (62) 999
Other, net 2 67 270
Net cash provided by operating activities 17,809 17,043 25,513
Cash flows from investing activities:      
Proceeds from sales of securities available for sale 0 0 20
Principal collected on securities available for sale 1,914 953 1,245
Proceeds collected on maturity of securities available for sale 310 20,100 136,145
Purchases of securities available for sale (4,888) (20,035) (104,968)
Purchase of Federal Home Loan Bank stock (322) (3,999) (1,879)
Redemption of Federal Home Loan Bank stock 272 3,952 1,800
Proceeds from sales of real estate owned 367 309 2,369
Net increase in loans receivable (11,483) (43,194) (89,570)
Acquisition payment (net of cash acquired) 0 0 6,080
Proceeds from sale of premises 0 8 0
Purchases of premises and equipment (2,497) (1,011) (1,607)
Net cash used by investing activities (16,327) (42,917) (50,365)
Cash flows from financing activities:      
(Decrease) increase in deposits (12,249) 42,794 14,468
Warrants purchased (6,453) 0 0
Stock awards withheld for tax withholding 0 (54) 0
Excess tax benefit from options exercised 64 0 0
Proceeds from borrowings 6,801 99,200 45,000
Repayment of borrowings (6,801) (106,200) (47,000)
Increase in customer escrows 301 137 163
Net cash (used) provided by financing activities (18,337) 35,877 12,631
(Decrease) increase in cash and cash equivalents (16,855) 10,003 (12,221)
Cash and cash equivalents, beginning of year 37,564 27,561 39,782
Cash and cash equivalents, end of year 20,709 37,564 27,561
Supplemental cash flow disclosures:      
Cash paid for interest 2,034 1,887 1,599
Cash paid for income taxes 4,264 1,879 436
Supplemental noncash flow disclosures:      
Loans transferred to loans held for sale 11,642 9,211 15,002
Loans held for sale transferred to loans 0 164 0
Transfer of loans to real estate owned, net 74 253 591
Core Deposits [Member]      
Adjustments to reconcile net income to cash provided by operating activities:      
Amortization of core deposit intangible $ 99 $ 99 $ 92