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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 2,732 $ 4,731
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,634 1,156
Accretion of fair value purchase accounting adjustments, net (1,841) (1,717)
Provision for loan losses 3,200 797
Stock compensation expense 110 143
Deferred income tax expense 90 1,039
Increase in cash surrender value of bank owned life insurance (162) (158)
Loss on disposal of fixed assets 0 7
Net losses from sale of other real estate owned 14 26
Net gains from sale of loans (576) (282)
Origination of loans held for sale (15,195) (16,805)
Proceeds from sales of loans held for sale 15,582 16,061
Net change in:    
Accrued interest receivable 35 (1,093)
Accrued interest payable 784 748
Other assets 685 (1,660)
Other liabilities 2,010 4,702
Net cash provided by operating activities 9,102 7,695
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 2,115 0
Proceeds from maturities and calls of securities available-for-sale 3,250 5,000
Proceeds from paydowns of securities available-for-sale 3,816 3,173
Purchases of securities available-for-sale (3,377) (1,054)
Purchases of other investments (507) (899)
Net increase in loans (52,721) (61,011)
Purchases of premises and equipment (2,429) (1,296)
Proceeds from sale of other real estate owned 120 458
Net cash and cash equivalents received from business combination 46,132 0
Net cash used in investing activities (3,601) (55,629)
Cash flows from financing activities:    
Net increase in deposits 22,158 72,166
Net decrease in securities sold under agreements to repurchase (20) (4,686)
Proceeds from Federal Home Loan Bank advances and other borrowings 100,000 50,094
Repayment of Federal Home Loan Bank advances and other borrowings 0 (52,732)
Cash dividends paid (702) 0
Issuance of common stock 173 264
Purchase of common stock (1,992) 0
Net cash provided by financing activities 119,617 65,106
Net change in cash and cash equivalents 125,118 17,172
Cash and cash equivalents, beginning of period 183,971 115,822
Cash and cash equivalents, end of period 309,089 132,994
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 4,643 5,198
Cash paid during the period for income taxes 0 0
Noncash investing and financing activities:    
Acquisition of real estate through foreclosure 676 55
Change in goodwill due to acquisitions 8,302 0
Initial recognition of operating lease right-of-use assets 222 2,344
Initial recognition of operating lease liabilities $ 222 $ 2,344