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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Cash Flows from Operating Activities:          
Net income $ 7,891 $ 5,186 $ 14,280 $ 9,734 $ 15,976
Adjustments to reconcile net income to net cash provided by operating activities:          
Reversal of losses on off-balance sheet commitments 0 (208) 0 (43)  
Noncash contribution expense to employee stock ownership plan     601 0  
Noncash director compensation expense     146 106  
Stock-based compensation expense     1,114 710  
Amortization of core deposit intangible     460 236  
Amortization of investment security premiums, net of accretion of discounts     1,496 1,496  
Accretion of discount on acquired loans     (428) (498)  
Accretion of discount on subordinated debentures     63 80  
Net change in deferred loan origination costs/fees     18 60  
Gain on sale of investment securities (11) (10) (11) (10)  
Depreciation and amortization 546 463 1,093 944  
Gain on sale of repossessed assets     0 (1)  
Earnings on bank-owned life insurance policies (230) (210) (458) (419)  
Net change in operating assets and liabilities:          
Deferred rent and other rent-related expenses     (179) 114  
Interest receivable and other assets     (971) 93  
Interest payable and other liabilities     1,543 (389)  
Total adjustments     4,487 2,479  
Net cash provided by operating activities     18,767 12,213  
Cash Flows from Investing Activities:          
Purchase of held-to-maturity securities     (1,989) (4,496)  
Purchase of available-for-sale securities     (121,269) (9,377)  
Proceeds from sale of available-for-sale securities 5,006 1,321 5,006 1,321  
Proceeds from paydowns/maturities of held-to-maturity securities     9,615 14,601  
Proceeds from paydowns/maturities of available-for-sale securities     24,540 15,385  
Loans originated and principal collected, net     (38,835) (4,563)  
Purchase of premises and equipment     (446) (814)  
Proceeds from sale of other real estate owned or repossessed assets     0 170  
Cash paid for low-income housing tax credit investment     (373) (628)  
Net cash (used in) provided by investing activities     (123,751) 11,599  
Cash Flows from Financing Activities:          
Net (decrease) increase in deposits     (10,947) 67,840  
Proceeds from stock options exercised     585 88  
Payment of tax withholdings for stock options exercised and vesting of restricted stock     (96) (60)  
Proceeds from stock issued under employee and director stock purchase plans     37 737  
Stock repurchased, net of commissions     (104) 0  
Cash dividends paid on common stock     (4,181) (3,315)  
Net cash (used in) provided by financing activities     (14,706) 65,290  
Net (decrease) increase in cash and cash equivalents     (119,690) 89,102  
Cash and cash equivalents at beginning of period     203,545 48,804 48,804
Cash and cash equivalents at end of period 83,855 137,906 83,855 137,906 203,545
Supplemental disclosure of cash flow information:          
Cash paid in interest     1,083 751  
Cash paid in income taxes     2,000 4,620  
Supplemental disclosure of noncash investing and financing activities:          
Change in net unrealized gain or loss on available-for-sale securities     (7,301) 3,635  
Securities transferred from available-for-sale to held-to-maturity     27,422 128,965 129,000
Amortization of net unrealized loss on available-for-sale securities transferred to held-to-maturity $ 132 $ 124 268 165 165
Stock issued under employee stock ownership plan (ESOP)     601 0 $ 1,850
Stock issued in payment of director fees     $ 91 $ 82