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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 1,864 $ 1,990
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 376 370
Provision for loan losses 350 454
Amortization of purchase accounting adjustments 0 (17)
Net amortization of securities 331 230
Gain on sale of securities, net (106) (80)
Gain on sale of fixed assets, net (23) 0
Gain on sale of other real estate owned, net (5) (1)
FHLB stock dividend (18) (11)
Stock-based compensation 179 141
Deferred taxes (141) (228)
Net change in value of bank owned life insurance (47) (42)
Loans held for sale:    
Originations 0 (495)
Proceeds from sales 0 23,837
Gain on sale of loans 0 (313)
Net change in:    
Accrued interest receivable (25) (148)
Other assets 125 927
Accrued taxes and other liabilities 6,272 807
Net cash provided by operating activities 9,132 27,421
Cash flows from investing activities:    
Proceeds from sales of investment securities available for sale 10,325 3,440
Funds invested in securities available for sale (26,577) (19,594)
Proceeds from maturities, prepayments and calls of investment securities available for sale 5,944 2,111
Proceeds from maturities, prepayments and calls of investment securities held to maturity 421 143
Purchase of other equity securities (940) (1,338)
Net increase in loans (8,881) (45,779)
Proceeds from sales of other real estate owned 25 62
Proceeds from the sales of fixed assets 291 0
Purchases of fixed assets (346) (489)
Acquisition of trademark intangible 0 (100)
Purchase of bank owned life insurance 0 (3,500)
Net cash used in investing activities (19,738) (65,044)
Cash flows from financing activities:    
Net (decrease) increase in customer deposits (39,233) 71,317
Net decrease in repurchase agreements (2,726) (9,422)
Net decrease in short-term FHLB advances (5,000) (21,903)
Proceeds from long-term FHLB advances 5,000 0
Repayment of long-term FHLB advances (390) (1,633)
Proceeds from other borrowings 78 0
Repayment of other borrowings (1,000) 0
Proceeds from subordinated notes, net of issuance costs 18,133 0
Cash dividends paid on common stock (87) (63)
Proceeds from public offering of common stock, net of issuance costs 32,553 0
Proceeds from stock options and warrants exercised 473 0
Payments to repurchase common stock 0 (315)
Net cash provided by financing activities 7,801 37,981
Net (decrease) increase in cash and cash equivalents (2,805) 358
Cash and cash equivalents, beginning of period 29,448 20,966
Cash and cash equivalents, end of period $ 26,643 $ 21,324