XML 19 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities    
Net Income $ 2,226 $ 2,453
Items not requiring (providing) cash    
Depreciation and amortization 419 409
Provision for loan losses 300
Expense of share-based compensation plan 113 82
Amortization of premiums and discounts on securities 74 86
Amortization of intangible assets 2 2
Amortization of originated mortgage servicing rights 255 246
Impairment (recovery) of mortgage servicing rights 708 (92)
Proceeds from sale of loans held for sale 44,502 43,412
Originations of loans held for sale (43,373) (41,720)
Gain from sale of loans (1,519) (1,760)
Changes in    
Interest receivable (301) (100)
Other assets (1,575) (1,438)
Interest payable & other liabilities 2,523 1,472
Net cash provided by operating activities 4,054 3,352
Investing Activities    
Purchases of available-for-sale securities (8,601) (13,149)
Proceeds from maturities of available-for-sale securities 4,550 2,853
Net change in loans (10,558) (16,874)
Purchase of premises, equipment (451) (406)
Proceeds from sales of premises, equipment 7 133
Purchase of bank owned life insurance (50)
Proceeds from sale of foreclosed assets 15 22
Acquisition, net of cash acquired (2,600)
Net cash used in investing activities (17,668) (27,421)
Financing Activities    
Net increase in demand deposits, money market, interest checking & savings accounts 7,944 19,530
Net increase in certificates of deposit 17,162 (335)
Net increase in securities sold under agreements to repurchase (2,929) (577)
Proceeds from Federal Home Loan Bank advances 8,000
Net proceeds from share-based compensation plans 11 40
Stock repurchase plan (1,294) (58)
Issuance of common shares 139 27,912
Dividends on common shares (556) (486)
Dividends on preferred shares (244) (244)
Net cash provided by financing activities 28,233 45,782
Increase in cash and cash equivalents 14,599 21,713
Cash and cash equivalents, beginning of year 48,363 26,616
Cash and cash equivalents, end of year 62,962 48,329
Supplemental cash flow information    
Interest paid 1,944 1,110
Income taxes paid 620 220
Fair value of assets acquired - premises and equipment 1,161
Supplemental non-cash disclosure    
Initial recognition of right-of-use lease assets 293
Transfer of loans to foreclosed assets $ 199 $ 70