Consolidated Statement of Cash Flows

6 Months Ended

Jun. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

Consolidated Statement of Cash Flows

On a consolidated basis, cash and cash equivalents include cash and due from depository institutions, interest-bearing deposits and short-term investments in money market funds with original maturities of 90 days or less

The Company made $300,000 in income tax payments in the first six months of 2019 and $800,000 in the same 2018 period. The Company made total interest payments of $7,044,000 in the first six months of 2019 compared to $5,287,000 in the same 2018 period. The Company had $75,000 non-cash transfers to other real estate owned (OREO) in the first six months of 2019 compared to $160,000 non-cash transfers in the same 2018 period. As a result of the adoption of ASU 2016-02,

Leases (Topic 842)

as of January 1, 2019, the Company had non-cash transactions associated with the recognition of the right-of-use assets and lease liabilities. Specifically, the Company recognized a right-of-use asset and lease liability of $932,000 related to operating leases and a right-of-use asset and lease liability of $3.3 million related to financing leases.