| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||
Net income | ||||||||||||
2,818 | 4,587 | 5,563 | 2,227 | 4,941 | - | - | - | - | - | - | - | - |
Net income | ||||||||||||
- | - | - | - | - | - | - | - | 4,069 | - | 3,181 | 1,502 | 1,416 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Increase in deferred tax asset | ||||||||||||
-260 | 2,523 | -128 | -784 | -236 | 1,323 | 850 | -2,205 | 772 | - | - | - | - |
Decrease in deferred tax asset | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 1,028 |
Accretion on acquired loans | ||||||||||||
-1,324 | -1,630 | -1,327 | -779 | -577 | -567 | -824 | -512 | -1,041 | -437 | -127 | -1,841 | -595 |
Gain on sale of loans | ||||||||||||
642 | 1,217 | 613 | 979 | 190 | 438 | 424 | 548 | 651 | 461 | 437 | 875 | 400 |
Proceeds from sale of loans | ||||||||||||
8,409 | 14,093 | 10,710 | 10,761 | 2,846 | 5,550 | 2,111 | 12,544 | 8,754 | - | - | - | - |
Loans originated for sale | ||||||||||||
11,200 | 18,911 | 13,007 | 12,431 | 8,113 | 6,249 | 8,514 | 16,632 | 6,378 | - | - | - | - |
Gain on sale of premises | ||||||||||||
- | 0 | 0 | 109 | 78 | - | - | - | 0 | - | - | - | - |
Accretion on junior subordinated debentures | ||||||||||||
20 | 21 | 20 | 20 | 20 | 18 | 11 | 15 | 15 | - | - | - | - |
Proceeds from sale of loans | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 2,671 |
Loans originated for sale | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -15,558 |
Accretion on Trust Preferred | ||||||||||||
- | - | - | - | - | - | - | - | - | - | -557 | 582 | 0 |
Increase in cash surrender value of life insurance policies securities | ||||||||||||
162 | 158 | 168 | 152 | 164 | 70 | 76 | 76 | 79 | 18 | 85 | 178 | -50 |
Provision for loan losses | ||||||||||||
1,713 | 1,023 | 479 | 445 | 277 | 264 | 1,081 | 243 | 254 | 117 | 58 | 144 | 143 |
Amortization/accretion of premium/discount on investment securities | ||||||||||||
-187 | -167 | -114 | -91 | -135 | -96 | -104 | -121 | -120 | -120 | -189 | -99 | 39 |
Depreciation and amortization | ||||||||||||
472 | - | - | - | 301 | - | - | - | 231 | 230 | 225 | 182 | 125 |
Core deposit intangible amortization | ||||||||||||
473 | - | - | - | 389 | - | - | - | - | - | - | - | - |
Core deposit intangible amortization | ||||||||||||
- | - | - | - | - | - | - | 289 | 289 | - | 277 | 213 | 83 |
Stock based compensation expense | ||||||||||||
309 | 347 | 367 | 320 | 120 | 362 | 364 | 308 | 146 | 105 | 131 | 96 | 91 |
Increase (decrease) in deferred loan origination fees, net | ||||||||||||
-62 | 127 | -83 | -137 | 8 | 15 | 42 | 9 | 37 | -135 | 200 | -349 | 126 |
Increase in interest receivable and other assets | ||||||||||||
937 | 5,152 | -524 | 1,378 | 6,035 | 1,129 | 915 | -248 | -948 | -732 | 562 | -262 | -558 |
Increase in salary continuation plan, net | ||||||||||||
80 | 107 | 80 | 71 | 62 | 81 | 51 | -900 | 60 | - | - | - | - |
(Decrease) increase in interest payable and other liabilities | ||||||||||||
-2,982 | 5,107 | -175 | 4,623 | 5,852 | 2,160 | 646 | 257 | -2,438 | - | - | - | - |
Increase in salary continuation liability | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 21 |
(Decrease) increase in accrued expenses and other liabilities | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 1,093 |
Net cash used in operating activities | ||||||||||||
-2,964 | 1,575 | 3,215 | 2,624 | -458 | 4,479 | -1,534 | -1,742 | 5,034 | 6,890 | 3,857 | 8,906 | -10,325 |
Cash flows from investing activities: | ||||||||||||
Proceeds from maturities of interest bearing deposits in banks | ||||||||||||
1,235 | 744 | 749 | 249 | 499 | - | - | - | - | 1,777 | 745 | 0 | 0 |
Maturity of interest bearing deposits in banks | ||||||||||||
- | - | - | - | - | - | - | - | 498 | - | - | - | - |
Purchase of investment securities | ||||||||||||
5,520 | 3,598 | 7,122 | 4,637 | 1,501 | 2,098 | 17,483 | 21,772 | 0 | - | - | - | - |
Proceeds from the maturity and repayment of investment securities | ||||||||||||
6,808 | 8,325 | 8,725 | 7,754 | 4,694 | 28,750 | 1,830 | 3,602 | 3,195 | 3,415 | 334 | 2,192 | 1,710 |
Redemption of Federal Home Loan Bank stock | ||||||||||||
-165 | - | - | - | -66 | - | - | - | 366 | - | - | - | - |
Purchase of Federal Reserve Bank stock | ||||||||||||
760 | - | - | - | 85 | - | - | - | 0 | - | - | - | -14 |
(Increase) decrease in loans, net | ||||||||||||
63,988 | 77,816 | 12,469 | -28,791 | -13,040 | -1,593 | -17,349 | 17,655 | -2,980 | -11,907 | -14,535 | 39,836 | -13,689 |
Purchase of equipment and leasehold improvements | ||||||||||||
843 | 695 | 418 | 123 | 163 | 375 | 206 | 321 | 111 | 0 | 246 | 150 | -28 |
Net cash paid out for acquisition | ||||||||||||
8,432 | - | - | - | - | - | - | - | - | - | - | - | - |
Net cash (used in) provided by investing activities | ||||||||||||
-71,335 | -32,549 | -10,543 | 27,469 | 16,550 | 14,320 | 3,931 | -35,698 | 6,196 | 15,269 | 14,229 | 72,933 | -12,021 |
Cash flows from financing activities: | ||||||||||||
Decrease in noninterest and interest bearing deposits, net | ||||||||||||
-4,665 | 23,845 | 4,315 | -11,853 | -2,872 | 17,251 | 9,804 | 38,389 | 3,700 | -610 | -244,380 | 236,723 | 16,079 |
Decrease in time deposits, net | ||||||||||||
-35,938 | -23,610 | -11,503 | 882 | -4,329 | -25,686 | -17,251 | 1,006 | -9,232 | -3,747 | 267,082 | -242,912 | 3,115 |
Repurchase of common stock | ||||||||||||
4,596 | - | - | - | - | - | - | - | - | - | - | - | - |
Repayment of junior subordinated debentures | ||||||||||||
-1,575 | - | - | - | - | - | - | - | - | - | - | - | - |
Increase in other borrowings | ||||||||||||
100,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||||
53,226 | -10,722 | -7,188 | -10,971 | -7,201 | -8,435 | -7,447 | 100,156 | -5,532 | -14,824 | 23,250 | -6,189 | 19,194 |
(Decrease) increase in cash and cash equivalents | ||||||||||||
-21,073 | - | - | - | 8,891 | - | - | - | - | - | - | - | - |
Increase in cash and cash equivalents | ||||||||||||
- | - | - | - | - | - | - | - | 5,698 | - | 41,336 | 75,650 | -3,152 |
Supplemental disclosure of cash flow information: | ||||||||||||
Cash paid during the year for: | ||||||||||||
Interest expense | ||||||||||||
2,998 | 2,709 | 2,562 | 728 | 1,455 | 1,331 | 1,348 | 1,271 | 989 | - | - | - | - |
Income tax, net of refunds | ||||||||||||
3,780 | - | - | - | 1,676 | - | - | - | 0 | - | - | - | - |
Interest paid | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 921 |
Income tax, net of refunds | ||||||||||||
- | - | - | - | - | - | - | - | - | - | -385 | 1,215 | 0 |
Non-cash investing and financing activities: | ||||||||||||
Change in unrealized gain on available-for-sale securities, net of tax | ||||||||||||
810 | -353 | 318 | 792 | 597 | 463 | -212 | -285 | -282 | - | - | - | - |
Transfer of loans to other real estate owned | ||||||||||||
21 | - | - | - | - | - | - | - | - | - | - | - | - |
Recognition of ROU assets | ||||||||||||
760 | 5,770 | 0 | 3,577 | 7,834 | - | - | - | 0 | - | - | - | - |
Recognition of lease liability | ||||||||||||
707 | 5,474 | 0 | 3,577 | 8,150 | - | - | - | 0 | - | - | - | - |
Acquisition: | ||||||||||||
Assets acquired, net of cash received | ||||||||||||
109,429 | - | - | - | - | - | - | - | - | - | - | - | - |
Liabilities assumed | ||||||||||||
120,409 | - | - | - | - | - | - | - | - | - | - | - | - |
Cash consideration | ||||||||||||
13,886 | - | - | - | - | - | - | - | - | - | - | - | - |
Goodwill | ||||||||||||
3,372 | - | - | - | - | - | - | - | - | - | - | - | - |
Change in unrealized (loss) gain in available for-sale securities, net of tax | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 9 |