XML 62 R7.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 2,832 $ 6,009
Adjustments to reconcile net income to cash provided by (used for) operating activities:    
Provision for loan losses 6,000 300
Depreciation and other amortization 549 453
Accretion and amortization of securities discounts and premium, net 116 83
Net change in operating leases 55 447
Compensation expense related to stock options and restricted stock grants 334 401
Gain on sale of loans held for sale (2,778) (1,775)
Loans originated and held for sale (95,423) (55,178)
Proceeds from sale of loans held for sale 90,299 56,801
Increase in cash surrender value of bank owned life insurance (270) (216)
Decrease in deferred tax asset 1
Increase in other assets, net (1,490) (400)
Increase (decrease) in other liabilities (3,782) 5,978
Net cash provided by (used for) operating activities (3,558) 12,904
Increase (decrease) in cash realized from:    
Increase in loans, net (86,916) (56,643)
Purchase of property and equipment (1,119) (266)
Purchase of investment securities:    
Available for sale (6,302)
Payments and maturities, calls and repayments of investment securities:    
Available for sale 4,269 2,205
Other investments 1,607 812
Net cash used for investing activities (88,461) (53,892)
Increase (decrease) in cash realized from:    
Increase in deposits, net 149,574 110,099
Decrease in Federal Home Loan Bank advances and other borrowings, net (45,000) (25,000)
Proceeds from the exercise of stock options and warrants 741 322
Net cash provided by financing activities 105,315 85,421
Net increase in cash and cash equivalents 13,296 44,433
Cash and cash equivalents at beginning of the period 127,816 72,873
Cash and cash equivalents at end of the period 141,112 117,306
Cash paid for    
Interest 7,103 5,570
Income taxes
Schedule of non-cash transactions    
Unrealized gain on securities, net of income taxes 708 541
Right-of-use assets obtained in exchange for lease obligations:    
Operating leases $ 15,395