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Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income $ 3,857 $ 9,350
Depreciation and amortization 1,295 1,371
Provision for loan losses 13,950 2,850
Accretion of discounts and amortization of premiums on securities 1,473 1,212
Equity based compensation 934 1,135
Loss on disposal of fixed assets 10 64
Gain on sale of loans 0 (79)
Deferred income taxes 2,881 969
Net increase in bank owned life insurance (456) (467)
Net recognized gains on available-for-sale equity securities (34) (26)
Net realized gains on available-for-sale debt securities (393) (27)
Dividends on FHLB stock (291) (251)
Stock dividends on CRA mutual fund (11) (12)
Changes in    
Interest receivable (1,242) (2,486)
Other assets 65 (428)
Other liabilities (9,368) (2,518)
Net cash provided by operating activities 12,670 10,657
Investing Activities    
Net change in loans (169,595) (219,804)
Purchases of available-for-sale securities (11,861) (46,555)
Proceeds from maturities of available-for-sale securities 21,528 10,609
Proceeds from sale of available-for-sale securities 3,841 3,371
Purchase of premises and equipment (331) (37)
Purchase of restricted equity securities (970) (400)
Proceeds from the sale of fixed assets 0 341
Proceeds from sale of restricted equity securities 0 715
Net cash used in investing activities (157,388) (251,760)
Financing Activities    
Net increase (decrease) in demand deposits, savings, NOW and money market accounts 185,747 (80,282)
Net increase (decrease) in time deposits (136,684) 272,084
Net increase (decrease) in repurchase agreements and fed funds purchased 24,025 (19,735)
Proceeds from Federal Home Loan Bank advances 70,000 10,000
Repayment of Federal Home Loan Bank advances (26,063) (10,059)
Retirement of preferred stock 0 (30,000)
Issuance of common shares, net of issuance cost 1 280
Proceeds from employee stock purchase plan 0 547
Common stock purchased and retired 0 (155)
Acquisition of common stock for tax withholding obligations (671) (133)
Net decrease in employee receivables 30 32
Dividends paid on preferred stock 0 (700)
Net cash provided by financing activities 116,385 141,879
Decrease in Cash and Cash Equivalents (28,333) (99,224)
Cash and Cash Equivalents, Beginning of Period 187,320 216,541
Cash and Cash Equivalents, End of Period 158,987 117,317
Supplemental Cash Flows Information    
Interest paid 17,199 16,718
Income taxes paid 0 0
Foreclosed assets in settlement of loans $ 0 $ 2,471