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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Cash Flows from Operating Activities:          
Net income $ 8,680 $ 5,132 $ 22,960 $ 14,866  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for losses on off-balance sheet commitments 0 100 0 57  
Noncash contribution expense to employee stock ownership plan     898 637  
Noncash director compensation expense     219 170  
Stock-based compensation expense     1,414 1,057  
Amortization of core deposit intangible     690 354  
Amortization of investment security premiums, net of accretion of discounts     2,172 2,204  
Accretion of discount on acquired loans     (531) (706)  
Accretion of discount on subordinated debentures     92 117  
Net change in deferred loan origination costs/fees     114 85  
Loss (gain) on sale of investment securities 90 0 79 (10)  
Depreciation and amortization 532 489 1,625 1,433  
Gain on sale of repossessed assets     0 (1)  
Earnings on bank-owned life insurance policies (227) (209) (685) (628)  
Net change in operating assets and liabilities:          
Deferred rent and other rent-related expenses     (278) 38  
Interest receivable and other assets     2,780 421  
Interest payable and other liabilities     (265) 350  
Total adjustments     8,324 5,578  
Net cash provided by operating activities     31,284 20,444  
Cash Flows from Investing Activities:          
Purchase of held-to-maturity securities     (1,988) (4,496)  
Purchase of available-for-sale securities     (174,617) (51,130)  
Proceeds from sale of available-for-sale securities 11,966 0 16,972 1,321  
Proceeds from paydowns/maturities of held-to-maturity securities     15,947 22,352  
Proceeds from paydowns/maturities of available-for-sale securities     45,917 37,126  
Loans originated and principal collected, net     (50,315) (37,370)  
Purchase of premises and equipment     (615) (1,143)  
Proceeds from sale of other real estate owned or repossessed assets     0 170  
Cash paid for low-income housing tax credit investment     (389) (899)  
Net cash used in investing activities     (149,088) (34,069)  
Cash Flows from Financing Activities:          
Net increase in deposits     64,176 118,270  
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     65 750  
Stock repurchased, net of commissions     (1,334) 0  
Cash dividends paid on common stock     (6,419) (5,103)  
Net cash provided by financing activities     56,977 113,945  
Net (decrease) increase in cash and cash equivalents     (60,827) 100,320  
Cash and cash equivalents at beginning of period     203,545 48,804 $ 48,804
Cash and cash equivalents at end of period 142,718 149,124 142,718 149,124 203,545
Supplemental disclosure of cash flow information:          
Cash paid in interest     1,737 1,131  
Cash paid in income taxes     4,900 6,815  
Supplemental disclosure of noncash investing and financing activities:          
Change in net unrealized gain or loss on available-for-sale securities     (9,421) 6,309  
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 $ 128 $ 135 396 299 $ 299
Stock issued to ESOP     898 637  
Stock issued in payment of director fees     204 188  
Subscription in low-income housing tax credit investment     3,000 0  
Repurchase of stock not yet settled     $ 205 $ 0