XML 31 R8.htm IDEA: XBRL DOCUMENT v3.19.1
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 $ 14,139 $ 15,872 $ 17,217
Adjustments to reconcile net income to net cash from operating activities      
Security amortization, net 1,171 1,263 1,383
Depreciation 1,515 1,249 1,257
Amortization of intangible assets 366 586 699
Amortization (accretion) of net deferred loan fees 166 317 (172)
Net (gain) loss on sale of securities 413 (12) (19)
Net gain on equity securities (26)    
Provision (credit) for loan losses 780   (1,300)
Loans originated for sale (78,252) (76,493) (67,295)
Proceeds from sale of loans 81,085 78,309 69,475
Net gain on sale of loans (1,621) (1,745) (1,750)
Net (gain) loss on sale of other real estate owned (18) 28 (152)
Gain on sale of fixed assets (147) (67) (1)
Increase in cash surrender value of bank owned life insurance (718) (573) (563)
Share-based compensation 428 426 323
Change in Accrued interest payable (197) 229 61
Accrued interest receivable (1,285) (634) 48
Deferred taxes 151 946 170
Other, net 2,007 1,118 (1,672)
Net cash from operating activities 19,957 20,819 17,709
Cash flows used for investing activities:      
Maturities, prepayments and calls of securities, available for sale 42,114 34,379 34,089
Sales of securities, available for sale 14,667 953 4,349
Purchases of securities, available for sale (131,924) (70,794) (41,759)
Purchases of other securities (3,247) (192) (603)
Acquisition, net of cash acquired 143,797    
Purchases of bank owned life insurance     (3,885)
Net loan originations (99,277) (109,737) (52,022)
Loans purchased, installment     (1,643)
Proceeds from sale of OREO properties 34 87 333
Premises and equipment purchases (1,472) (1,015) (2,437)
Proceeds from sale of premises and equipment 1,190 139 3
Net cash used for investing activities (34,118) (146,180) (63,575)
Cash flows from financing activities:      
Increase (decrease) in deposits (100,974) 83,820 69,070
Net change in short-term FHLB advances 131,700 25,900 (22,700)
Repayment of long-term FHLB advances (10,000) (2,500)  
Net proceeds from issuance of common stock   32,821  
Increase (decrease) in securities sold under repurchase agreements 444 (7,170) 3,885
Cash payment for repurchase of common stock   (4)  
Cash paid on fractional shares on preferred stock conversion     (1)
Cash dividends paid (4,749) (3,682) (3,254)
Net cash from financing activities 16,421 129,185 47,000
Increase (decrease) in cash and due from financial institutions 2,260 3,824 1,134
Cash and due from financial institutions at beginning of year 40,519 36,695 35,561
Cash and due from financial institutions at end of year 42,779 40,519 36,695
Supplemental disclosures of cash flow information:      
Interest paid 7,751 3,863 3,247
Income taxes paid 1,600 5,950 5,900
Transfer of loans from portfolio to other real estate owned   94 102
Transfer of premises to held-for-sale   3 202
Transfer of loans held-for-sale to portfolio 85    
Securities purchased not settled 500 1,291  
Conversion of preferred stock to common stock 7,994 $ 1,592 $ 3,323
Acquisition of UCB      
Consideration paid 117,344    
Noncash assets acquired:      
Securities available for sale 43,214    
Equity securities 212    
Loans held for sale 492    
Loans receivable 298,319    
FHLB Stock 3,527    
Accrued interest receivable 950    
Premises and equipment, net 5,291    
Goodwill 49,756    
Core deposit intangible 7,518    
Bank owned life insurance 17,193    
Other assets 10,361    
Total non cash assets acquired 436,833    
Liabilities assumed:      
Deposits 475,944    
Other liabilities 17    
Total liabilities assumed 475,961    
Net noncash liabilities acquired (39,128)    
Cash acquired $ 156,472