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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating activities    
Net income $ 10,667 $ 5,269
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 2,111 2,534
Depreciation 2,435 1,898
Stock compensation 249 192
Gains on sales of other real estate owned (260) (645)
Write-downs of other real estate owned 1,356 398
Origination of loans held for sale (10,866) (10,049)
Proceeds from sales of loans held for sale 11,021 9,973
Gains on sales of loans held for sale (88) (75)
Loss/(gain) on disposal of fixed assets 74 (3)
Net (gain)/loss on sales of investment securities - available-for-sale (113) 49
Amortization of deferred loan fees (745) (622)
Deferred tax expense 1,338 9,257
Earnings on bank owned life insurance (1,162) (1,187)
Decrease/(increase) in accrued interest receivable and other assets 367 (7,848)
Increase in accrued interest payable and other liabilities 1,814 3,524
Net cash provided by operating activities 18,294 12,924
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 10,888 17,878
Proceeds from maturities/calls of investment securities held-to-maturity 6,741 7,614
Proceeds from sales of investment securities available-for-sale 2,005 18,530
Purchases of investment securities available-for-sale (3,390) (40,596)
Purchases of investment securities held-to-maturity (7,176) (4,188)
Proceeds from sales of other real estate owned 2,981 3,076
Proceeds from disposal of fixed assets 0 945
Net (increase)/decrease in FHLB stock (190) 5
Net increase in loans (116,088) (4,359)
Purchases of premises and equipment (9,483) (6,561)
Net cash used in investing activities (113,712) (7,656)
Financing activities    
Net increase in deposits 28,137 25,161
Preferred stock dividends paid 0 (1,215)
Preferred stock redemption 0 (20,000)
Proceeds from issuance of common stock 119 9,191
Cash dividends paid on common stock (1,911) 0
Net increase in short-term borrowings 28,862 12,845
Payments on long-term borrowings (20,000) (10,808)
Net cash provided by financing activities 35,207 15,174
(Decrease)/increase in cash and cash equivalents (60,211) 20,442
Cash and cash equivalents at beginning of the year 83,752 63,310
Cash and cash equivalents at end of period 23,541 83,752
Supplemental information    
Interest paid 8,110 7,298
Taxes paid 530 175
Non-cash investing activities:    
Transfers from loans to other real estate owned 534 2,060
Available-for-sale Securities [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of investment securities discounts and premiums 39 148
Held-to-maturity Securities [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of investment securities discounts and premiums $ 57 $ 111