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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 11,303 $ 10,256  
Adjustments to reconcile net income to net cash provided by operating activities:      
Net decrease in deferred loan costs 132 5,948  
Depreciation 1,046 915  
Accretion (406) (530)  
Amortization 2,545 3,848  
Stock-based compensation 294 184  
Provision for credit losses 275 50  
Net realized gains on sales of available-for-sale investment securities (3,511) (897)  
Net change in equity securities (204) 42  
Increase in bank-owned life insurance, net of expenses (361) (347)  
Net gain on sale of credit card portfolio 0 (578)  
Net (increase) decrease in accrued interest receivable and other assets (8,485) 3,332  
Net increase (decrease) in accrued interest payable and other liabilities 7,761 (1,772)  
Deferred income tax (benefit) expense (713) 180  
Net cash provided by operating activities 9,676 20,631  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of available-for-sale investment securities (212,662) (116,785)  
Proceeds from sales or calls of available-for-sale investment securities 203,426 131,617  
Proceeds from maturity and principal repayments of available-for-sale investment securities 11,701 23,668  
Proceeds from sale of credit card portfolio 0 2,954  
Net increase in loans (41,622) (42,515)  
Purchases of premises and equipment (304) (649)  
Purchases of bank-owned life insurance 1,000 0  
FHLB stock redeemed (781) 0  
Net cash used in investing activities (39,680) (1,710)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase (decrease) in demand, interest bearing and savings deposits 11,711 (84,636)  
Net increase (decrease) in time deposits 78 (16,840)  
Proceeds from short-term borrowings from Federal Home Loan Bank 274,500 502,000  
Repayments of short-term borrowings to Federal Home Loan Bank (230,500) (472,000)  
Proceeds of borrowings from other financial institutions 2,870 0  
Repayments of borrowings from other financial institutions (2,870) 0  
Purchase and retirement of common stock 6,326   $ 0
Proceeds from stock issued under employee stock purchase plan 131 88  
Proceeds from exercise of stock options 160 640  
Cash dividend payments on common stock (2,874) (1,926)  
Net cash provided by (used in) financing activities 46,880 (72,674)  
Increase (decrease) in cash and cash equivalents 16,876 (53,753)  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 31,727 100,383  
CASH AND CASH EQUIVALENTS AT END OF PERIOD 48,603 46,630  
Cash paid during the period for:      
Interest 1,238 688  
Income taxes 4,720 1,080  
Operating cash flows from operating leases 1,091 0  
Non-cash investing and financing activities:      
Initial recognition of operating lease right-of-use assets $ 10,129 $ 0