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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 4,913 $ 2,637
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (138) (133)
Gain on sales of foreclosed assets held for resale, including writedowns (9) (3)
Earnings on investment in bank-owned life insurance (257) (255)
Loss on equity securities 33 0
Restricted stock compensation expense 186 59
Depreciation and amortization 706 470
Provision for loan losses 250 0
Net amortization of investment securities premiums 120 139
Increase in accrued interest receivable (588) (120)
Increase in accrued interest payable 175 48
Mortgage loans originated for sale (6,186) (6,798)
Proceeds from sales of loans originated for sale 7,586 8,235
Increase in other assets (98) (1,622)
Decrease in deferred tax expense 195 151
Increase in other liabilities 733 1,494
Net Cash Provided by Operating Activities 7,621 4,302
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 3,449 1,748
Proceeds from maturities of investment securities available for sale 3,842 6,014
Purchase of investment securities available for sale (3,986) 0
Purchase of restricted investment in bank stocks (29) (740)
Net decrease (increase) in loans 5,372 (44,615)
Purchase of bank-owned life insurance (500) 0
Insurance book- acquisition (600) 0
Capital expenditures (357) (367)
Proceeds from sales of foreclosed real estate 50 174
Net Cash Provided by (Used in) Investing Activities 7,241 (37,786)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits 10,920 5,561
Net increase in time certificates of deposits and interest bearing deposits 4,002 17,312
Net decrease in short-term borrowings (3,473) (6,622)
Proceeds from long-term borrowings 8,716 16,000
Repayments on long-term borrowings (8,000) 0
Dividends paid (1,405) (1,213)
Common stock issued 134 31
Net Cash Provided by Financing Activities 10,894 31,069
Net Increase (Decrease) in Cash and Cash Equivalents 25,756 (2,415)
CASH AND CASH EQUIVALENTS — BEGINNING 34,441 18,931
CASH AND CASH EQUIVALENTS — ENDING 60,197 16,516
Supplemental disclosures of cash flow information    
Interest paid 1,518 1,019
Income taxes paid 500 750
Loans transferred to foreclosed assets held for resale and other foreclosed transactions $ 235 $ 0