| Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 | Dec'15 | Sep'15 | Jun'15 | Mar'15 | Dec'14 | Sep'14 | Jun'14 | Mar'14 | Dec'13 | Sep'13 | Jun'13 | Mar'13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||||||||||||||
Net income | |||||||||||||||||||||||
5,727 | 5,789 | 6,457 | 6,583 | 1,293 | 3,841 | 3,868 | 7,487 | 3,998 | 1,630 | 1,358 | 1,667 | 2,412 | 1,810 | 1,699 | 1,306 | 2,745 | -2,959 | 430 | -399 | -615 | 616 | 1,128 | 1,534 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||||
Provision for Loan and Lease Losses | |||||||||||||||||||||||
-577 | -182 | 101 | -460 | 681 | 242 | 1,118 | 57 | 927 | 2,872 | 1,113 | -27 | 1,949 | 1,318 | 544 | 279 | 270 | 1,438 | 959 | 714 | 1,001 | 1,137 | 1,092 | 864 |
Net amortization of securities | |||||||||||||||||||||||
-24 | -240 | -262 | -214 | -287 | -356 | -387 | -620 | -497 | -591 | -982 | -854 | -897 | -919 | -935 | -959 | -649 | -629 | -420 | -486 | -528 | -12,438 | -552 | -594 |
Losses (gains) on sales and calls of securities, net | |||||||||||||||||||||||
0 | 0 | 0 | 0 | 0 | 0 | 928 | -1,022 | 298 | 562 | 664 | -244 | 145 | 238 | 267 | 1,318 | 741 | 349 | 1,191 | 541 | -541 | 1,256 | 86 | 4,290 |
Net unrealized gains on equity securities | |||||||||||||||||||||||
-188 | -61 | 452 | -69 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gains on calls of held-to-maturity securities | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Net change in loans held for sale | |||||||||||||||||||||||
-667 | -4,970 | 4,140 | -3,127 | -3,276 | 5,479 | 5,114 | -1,086 | 627 | -3,989 | 2,197 | 2,271 | 945 | 10,398 | -16,764 | 5,795 | -9,624 | 5,199 | 2,236 | 1,424 | - | - | - | - |
Proceeds from sale of loans originated for sale | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 7,192 | - | 4,986 | 1,529 | 2,236 | - | - | - | - |
Losses (gains) on sales of residential portfolio loans, net | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | 0 | 150 | 0 | 169 | - | - | - | - | - | - | - | - | - | - | - | - |
Loss on sale of purchased home equity portfolio | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 93 | - | 379 | 58 | 47 | - | - | - | - |
Loss on sale of jumbo residential portfolio loans | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | - | - | - | - |
Net amortization of deferred loan origination costs and discounts | |||||||||||||||||||||||
13 | -31 | 719 | -181 | 94 | -74 | -50 | 19 | 788 | -157 | -145 | -112 | -230 | 39 | -6 | 97 | 777 | 66 | -500 | -7 | -139 | -184 | -130 | -142 |
Depreciation and amortization of premises and equipment | |||||||||||||||||||||||
508 | 512 | 504 | 516 | 524 | 534 | 530 | 532 | 563 | 497 | 475 | 476 | 521 | 441 | 432 | 430 | 412 | 351 | 406 | 306 | 411 | 359 | 349 | 330 |
Amortization of core deposit intangible | |||||||||||||||||||||||
81 | 103 | 127 | 151 | 175 | 199 | 222 | 247 | 271 | 294 | 318 | 342 | 366 | 390 | 414 | 437 | 461 | 485 | 509 | 353 | 0 | 0 | 0 | 0 |
Bank-owned life insurance income, including death benefit gains | |||||||||||||||||||||||
290 | 279 | 256 | 276 | 277 | 268 | 261 | 257 | 272 | 559 | 466 | 257 | 268 | 258 | 252 | 253 | 443 | 250 | 246 | 249 | 260 | 648 | 1,714 | 273 |
ESOP expense | |||||||||||||||||||||||
440 | 434 | 397 | 378 | 390 | 357 | 343 | 341 | 312 | 277 | 276 | 265 | 281 | 274 | 260 | 248 | 505 | 488 | 0 | 0 | - | - | - | - |
Deferred income tax provision (benefit) | |||||||||||||||||||||||
196 | -528 | -1,402 | 895 | 3,178 | -937 | 22 | 428 | 860 | -402 | -1,174 | 598 | -576 | 274 | 0 | 0 | - | - | - | - | -196 | -367 | -346 | -507 |
Stock based compensation expense | |||||||||||||||||||||||
2,727 | 1,415 | 1,365 | 1,349 | 1,375 | 1,363 | 1,337 | 1,408 | 1,262 | 1,225 | 1,186 | 1,195 | 1,124 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Gain (Loss) on Conversion of Investments | |||||||||||||||||||||||
0 | 0 | 0 | 653 | 0 | 0 | 0 | 5,947 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Gain on sale of premises and equipment | |||||||||||||||||||||||
0 | 0 | 0 | 271 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net change in: | |||||||||||||||||||||||
Trading assets | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | -750 | 31,562 | -22,423 | -11,246 | 2,373 |
Accrued interest receivable | |||||||||||||||||||||||
44 | 612 | 411 | -318 | 636 | 440 | -632 | -63 | 669 | -252 | 52 | 244 | 170 | 296 | 85 | 360 | 66 | 240 | 221 | -688 | 914 | -496 | 350 | -1,899 |
Other assets | |||||||||||||||||||||||
-5,643 | 4,342 | 3,676 | 6,483 | -805 | 66 | 3,827 | -543 | -9,758 | 562 | 4,583 | 8,090 | -2,288 | 7,097 | -8,284 | 4,628 | 2,124 | -280 | 3,319 | 1,870 | -13,702 | 3,056 | 11,516 | -46 |
Accrued expenses and other liabilities | |||||||||||||||||||||||
-5,659 | 6,687 | 3,048 | 743 | -871 | 5,998 | 1,472 | -3,717 | -11,550 | 985 | 3,904 | 7,470 | -1,786 | -4,809 | 10,030 | -12,096 | 13,401 | -2,634 | 2,218 | 1,235 | 17,005 | -17,995 | 4,812 | 144 |
Net cash provided by operating activities | |||||||||||||||||||||||
9,618 | 14,299 | 1,246 | 6,381 | 10,117 | 5,760 | -75 | 3,894 | 4,349 | 10,534 | 621 | 2,165 | 6,388 | -17,709 | 31,665 | -13,789 | 14,735 | 191 | -1,047 | 2,245 | -1,362 | 15,791 | 3,770 | -1,890 |
Cash flows from investing activities: | |||||||||||||||||||||||
Activity in securities available for sale: | |||||||||||||||||||||||
Purchases | |||||||||||||||||||||||
0 | 0 | 0 | 0 | 0 | 0 | 4,444 | 9,507 | 21,677 | 24,530 | 10,983 | 19,322 | 13,283 | 13,241 | 36,395 | 90,303 | 200,037 | 38,392 | 67,507 | 61,575 | 59,337 | 118,359 | 77,251 | 80,996 |
Proceeds from Sale of Available-for-sale Securities | |||||||||||||||||||||||
0 | 0 | 0 | 0 | 0 | 0 | 168,229 | 44,855 | 18,810 | 18,796 | 44,738 | 15,456 | 8,325 | 4,476 | 18,679 | 68,042 | 191,687 | 27,646 | 95,035 | 48,573 | 39,846 | 134,881 | 49,264 | 90,909 |
Maturities/calls | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | 1,313 | 1,370 | 1,200 | 250 | 0 | 532 | 0 | 5,100 | 955 | 1,778 | 408 | 6,474 | 3,300 | 7,133 | 1,183 | 0 |
Principal paydowns | |||||||||||||||||||||||
0 | 0 | 0 | 0 | 0 | 0 | 1,685 | 3,364 | 1,368 | 896 | 639 | 594 | 1,276 | 6,239 | 9,711 | 7,261 | - | - | 4,607 | 6,560 | 9,886 | 39,298 | 13,820 | 15,438 |
Purchases | |||||||||||||||||||||||
10,833 | 13,627 | 9,544 | 9,695 | 16,228 | 53,772 | 89,505 | 8,086 | 13,543 | 23,030 | 14,128 | 9,238 | 15,287 | 8,074 | 0 | 0 | - | - | - | - | - | - | - | - |
Maturities/calls | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | 600 | 11,150 | 5,000 | 6,085 | 6,000 | 3,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Principal paydowns | |||||||||||||||||||||||
8,958 | 10,566 | 10,159 | 9,143 | 10,038 | 9,233 | 7,225 | 7,099 | 9,559 | 10,207 | 8,805 | 6,295 | 6,313 | 4,108 | 0 | 0 | - | - | - | - | - | - | - | - |
Loan originations and purchases, net of paydowns | |||||||||||||||||||||||
28,788 | 44,899 | 64,086 | 1,513 | 119,653 | 52,767 | 111,351 | 55,641 | 171,520 | 87,893 | 101,094 | 43,222 | 163,887 | 106,542 | 86,684 | 43,002 | 44,028 | 119,726 | 99,245 | 52,873 | 230,629 | 65,207 | 20,296 | -8,287 |
Purchases of loans | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 42,175 | 74,238 | 21,371 |
Proceeds from sales of portfolios | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | 2,775 | 7,831 | - | 0 | 2,035 | 5,573 | 11,353 | 16,457 | 0 | 0 | - | - | - | - |
Net disposals (purchases) of premises and equipment | |||||||||||||||||||||||
- | - | - | -643 | - | - | - | 356 | 1,235 | 1,723 | 512 | 560 | 1,051 | 957 | 532 | 511 | 584 | 758 | 334 | 347 | 452 | 18 | 123 | 457 |
Purchases of FHLBB stock | |||||||||||||||||||||||
5,380 | 2,823 | 4,285 | 2,969 | 5,044 | 0 | 2,439 | 1,870 | 1,443 | 1,189 | 285 | 2,570 | 3,296 | 0 | 0 | 0 | 0 | 0 | 456 | 480 | 1,300 | 181 | 0 | 0 |
Redemption of FHLBB stock | |||||||||||||||||||||||
3,630 | 5,383 | 640 | 4,344 | 2,349 | 2,533 | 5,324 | 394 | 1,596 | 517 | 3,589 | 0 | - | - | - | - | - | - | - | - | 0 | 0 | 1 | 383 |
Proceeds from exchange of investment in Northeast Retirement Services | |||||||||||||||||||||||
0 | 0 | 0 | 308 | 0 | 0 | 0 | 1,595 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Cash provided by business combination, net of purchase price | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 151,587 | 0 | 0 | 0 | 0 |
Net cash used in investing activities | |||||||||||||||||||||||
-32,551 | -45,602 | -55,148 | 261 | -123,590 | -38,798 | 6,454 | -18,153 | -176,148 | -84,498 | -59,465 | -38,401 | -173,459 | -110,459 | -93,186 | -47,840 | -33,671 | -108,149 | -67,492 | 97,919 | -100,855 | -44,029 | -74,514 | 12,193 |
Cash flows from financing activities: | |||||||||||||||||||||||
Net change in deposits, excluding brokered | |||||||||||||||||||||||
-72,738 | 62,414 | -4,203 | 50,342 | -11,374 | 65,464 | 65,087 | 70,318 | 43,094 | 46,006 | 112,130 | 51,065 | 28,186 | 60,671 | 28,144 | 7,669 | 37,073 | 23,709 | -25,993 | -2,145 | -82,105 | 53,784 | 88,149 | -42,105 |
Net change in brokered deposits | |||||||||||||||||||||||
44,288 | -8,474 | 38,432 | -12,373 | 65,690 | -45,174 | 43,454 | -22,283 | 84,136 | 34,545 | 4,171 | -309 | 60,705 | 10,165 | 24,768 | 825 | 23,166 | -22,500 | 60,500 | -70,918 | 75,918 | 0 | -75,918 | 79,623 |
Net change in short-term borrowings | |||||||||||||||||||||||
55,000 | -12,000 | 45,000 | -35,000 | 80,000 | 20,000 | -118,000 | -28,000 | 42,300 | -26,300 | -40,000 | -35,000 | 90,000 | 20,000 | 25,000 | 30,000 | -35,000 | -85,000 | 10,000 | -20,000 | 105,000 | -20,000 | 45,000 | -69,424 |
Repayments of long-term debt | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - |
Proceeds from long-term debt | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | 20,000 | 20,000 | 0 | 30,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Preferred stock dividends paid | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1 | 21 | 213 | 204 | 89 | 122 | 155 | 163 |
Repurchase of common stock | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | 2,825 | 5,756 | 5,537 | 10,314 | 8,600 | 4,521 | 0 | 0 | - | - | - | - | - | - | - | - |
Share redemption for tax withholdings for restricted stock vesting | |||||||||||||||||||||||
1,014 | 20 | 0 | 325 | 876 | 0 | 0 | 107 | 730 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from exercise of stock options | |||||||||||||||||||||||
22 | 28 | 183 | 508 | 26 | 0 | 37 | 180 | 40 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Common stock dividends paid | |||||||||||||||||||||||
5,255 | 4,845 | 3,633 | 10,889 | 7,189 | 0 | 5,995 | 1,196 | 722 | 724 | 734 | 495 | 463 | 569 | 0 | 0 | - | - | - | - | - | - | - | - |
Net cash provided by financing activities | |||||||||||||||||||||||
19,489 | 27,103 | 60,779 | -7,737 | 121,277 | 20,290 | 9,583 | 18,912 | 165,293 | 67,771 | 70,030 | 34,947 | 179,389 | 95,746 | 77,912 | 38,494 | 25,221 | -135,107 | 318,252 | -93,267 | 98,724 | 33,662 | 57,076 | -32,069 |
Net change in cash and cash equivalents | |||||||||||||||||||||||
-3,444 | -4,200 | 6,877 | -1,095 | 7,804 | -12,748 | 15,962 | 4,653 | -6,506 | -6,193 | 11,186 | -1,289 | 12,318 | -32,422 | 16,391 | -23,135 | 6,285 | -243,065 | 249,713 | 6,897 | -3,493 | 5,424 | -13,668 | -21,766 |
Supplementary information: | |||||||||||||||||||||||
Interest paid | |||||||||||||||||||||||
7,594 | 6,876 | 5,837 | 5,611 | 5,004 | 4,376 | 4,172 | 3,806 | 3,402 | 3,154 | 3,019 | 2,803 | 2,485 | 2,177 | 2,013 | 2,025 | 1,955 | 1,606 | 1,708 | 1,652 | 1,774 | 4,048 | 0 | 2,101 |
Income taxes paid, net of refunds | |||||||||||||||||||||||
3,103 | 2,542 | 2,583 | 1,348 | 1,712 | 1,722 | 4,194 | 46 | 952 | 921 | 2,452 | 65 | 1,322 | 508 | 1,110 | 1,340 | 175 | -50 | 50 | 82 | 1,360 | 0 | 0 | 1,932 |
Other real estate owned acquired in settlement of loans | |||||||||||||||||||||||
- | 0 | 0 | 3,649 | - | 0 | 202 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Common stock dividends declared | |||||||||||||||||||||||
- | - | - | 10,889 | - | - | - | 1,196 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Preferred stock dividends declared | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 213 | 204 | 89 | 122 | 155 | 163 |
Fair value of non-cash assets acquired | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | -22 | 0 | 123,755 | 0 | 0 | 0 | 0 |
Fair value of liabilities assumed | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | -22 | 0 | 275,342 | 0 | 0 | 0 | 0 |
Common stock dividends declared | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,372 | -3,627 | -4,180 | 22,398 | 0 | - | - | - | - |