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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net earnings $ 10,426 $ 4,369 $ 8,961
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Provision for loan losses 1,400 450 500
Valuation allowance on real estate owned 12 210 34
Amortization of investment security premiums, net 1,908 1,888 1,677
Amortization of purchase accounting adjustment on loans (211) (188) (143)
Amortization of purchase accounting adjustment on subordinated debentures 167 200 200
Amortization of intangibles 1,111 1,258 1,397
Depreciation 1,005 1,030 1,144
Increase in cash surrender value of bank owned life insurance (644) [1] (912) [1] (508)
Stock-based compensation 223 172 59
Deferred income taxes 969 487 919
Net gain on investment securities (20) (498) (558)
Net loss (gain) on sales of premises and equipment and foreclosed assets 58 (17) 89
Net gains on sales of loans (5,023) [1] (5,390) [1] (5,476)
Proceeds from sale of loans 167,544 173,719 222,857
Origination of loans held for sale (160,729) (169,347) (208,433)
Changes in assets and liabilities:      
Accrued interest and other assets (470) (2,013) (2,398)
Accrued interest, expenses and other liabilities 3,657 (2,362) (1,304)
Net cash provided by operating activities 21,383 3,056 19,017
Cash flows from investing activities:      
Net increase in loans (57,060) (13,785) (2,159)
Maturities and prepayments of investment securities 54,617 59,198 41,837
Purchases of investment securities (82,742) (75,186) (94,060)
Proceeds from sale of investment securities 21,126 13,810 14,326
Proceeds from sales of common stock investments 7
Redemption of bank stocks 10,380 9,099 4,686
Purchase of bank stocks (9,733) (9,223) (5,488)
Proceeds from sales of premises and equipment and foreclosed assets 424 856 813
Proceeds from bank owned life insurance 528 358
Purchase of bank owned life insurance (5,000)
Purchases of premises and equipment, net (1,308) (1,449) (596)
Net cash used in investing activities (64,289) (21,152) (40,283)
Cash flows from financing activities:      
Net increase in deposits 58,090 24,038 26,800
Federal Home Loan Bank advance borrowings 635,303 622,241 417,739
Federal Home Loan Bank advance repayments (646,903) (629,741) (416,239)
Proceeds from other borrowings 1,737 1,126 509
Repayments on other borrowings (100)
Proceeds from exercise of stock options 534 228 1,796
Payment of dividends (3,325) (3,108) (2,912)
Net cash provided by financing activities 45,436 14,684 27,693
Net increase (decrease) in cash and cash equivalents 2,530 (3,412) 6,427
Cash and cash equivalents at beginning of year 16,584 19,996 13,569
Cash and cash equivalents at end of year 19,114 16,584 19,996
Supplemental disclosure of cash flow information:      
Net refund received during the year for income taxes (1,364) 850 945
Cash paid during the year for interest 5,030 3,380 3,016
Supplemental schedule of noncash investing and financing activities:      
Transfer of loans to real estate owned 96 206 1,212
Investment securities purchases not yet settled $ 926
[1] Not within the scope of ASC 606.