XML 19 R9.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,430 $ 1,906
Adjustments to reconcile net income to net cash provided by operating activities:    
Loan loss provision 1,301 526
Depreciation 861 578
Net amortization of investment securities premium and discounts 537 648
Amortization of mortgage servicing rights 635 610
Amortization of right of use assets 235
Amortization of core deposit intangible and tax credits 507 337
ESOP compensation expense for allocated shares 143 168
Deferred income tax provision 229 240
Net gain on sale of loans (5,959) (3,159)
Net (gain) loss on sale of available-for-sale securities (49) 90
Net loss on sale of real estate owned and other repossessed assets 18 57
Net appreciation in cash surrender value of life insurance (317) (211)
Net change in:    
Accrued interest and dividends receivable (168) (408)
Loans held-for-sale (10,792) 485
Other assets (892) 167
Accrued expenses and other liabilities 2,462 694
Net cash (used in) provided by operating activities (6,819) 2,728
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales 53,257 45,080
Maturities, principal payments and calls 6,986 5,950
Purchases (37,133) (45,970)
FHLB stock purchased (109) (362)
FRB stock purchased (493) (554)
Net cash received (paid) for acquisitions 6,901 (4,243)
Loan origination and principal collection, net (47,780) (14,395)
Proceeds from sale of bank owned life insurance 205
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans 352 150
Purchases of premises and equipment (4,125) (4,984)
Net cash used in investing activities (22,144) (19,123)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 29,071 10,421
Net short-term (payments) advances on FHLB and other borrowings (1,625) 23,376
Long-term advances from FHLB and other borrowings 28,000
Payments on long-term FHLB and other borrowings (21,849) (14,876)
Purchase of treasury stock (1,210)
Dividends paid (1,189) (983)
Net cash provided by financing activities 31,198 17,938
NET INCREASE IN CASH AND CASH EQUIVALENTS 2,235 1,543
CASH AND CASH EQUIVALENTS, beginning of period 11,201 7,437
CASH AND CASH EQUIVALENTS, end of period 13,436 8,980
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid during the period for interest 3,352 2,120
Cash paid during the period for income taxes 170 230
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Increase (decrease) in market value of securities available-for-sale 3,402 (2,709)
Mortgage servicing rights recognized 1,201 748
Right of use assets obtained in exchange for lease liabilities 2,374
Loans transferred to real estate and other assets acquired in foreclosure 131 4
Stock issued in connection with acquisitions $ 16,435 $ 9,030