| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Sep'09 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net income | |||||||||
22,909 | 14,386 | 11,981 | 6,914 | 4,291 | 1,960 | 1,401 | 299 | 1,827 | 1,417 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Amortization of securities, net | |||||||||
-784 | -843 | -833 | -732 | -606 | -608 | -965 | -1,101 | -980 | -423 |
Gain on sales of securities | |||||||||
- | 38 | - | - | - | - | - | - | - | - |
Gain on sales of securities | |||||||||
- | - | - | - | - | 34 | 59 | 2,790 | 166 | - |
Increase in trading securities | |||||||||
- | - | - | - | - | - | - | - | 907 | -1,434 |
Writedown of available-for-sale securities | |||||||||
- | - | - | - | - | - | - | - | 204 | - |
Gain on sales of loans, net | |||||||||
756 | 936 | 271 | 395 | 486 | 1,024 | 2,520 | 462 | 340 | 333 |
Loans originated for sale | |||||||||
19,480 | 5,439 | 10,134 | 13,678 | 18,771 | 87,892 | 161,794 | 50,377 | 31,554 | 39,940 |
Proceeds from sales of loans | |||||||||
54,502 | 71,473 | 11,649 | 22,943 | 34,014 | 98,773 | 197,341 | 38,737 | 28,369 | 40,273 |
Provision for loan losses | |||||||||
1,657 | 2,762 | 2,385 | 2,317 | 1,552 | 1,498 | 2,736 | - | - | - |
Provision for loan losses | |||||||||
- | - | - | - | - | - | - | 2,285 | 438 | 597 |
Change in unamortized mortgage premium | |||||||||
44 | -2,388 | -1,928 | -1,796 | -1,045 | -883 | -198 | -420 | 31 | 13 |
Change in net deferred loan costs | |||||||||
59 | -196 | -1,041 | -405 | 1,533 | 758 | 236 | 1,961 | 101 | - |
ESOP expense | |||||||||
484 | 444 | 360 | 321 | 268 | 209 | 185 | 39 | - | - |
Depreciation and amortization expense | |||||||||
590 | 595 | 621 | 726 | - | - | - | - | - | - |
Depreciation and amortization expense | |||||||||
- | - | - | - | 761 | 716 | 517 | 447 | 358 | 363 |
Impairment of fixed assets | |||||||||
3 | 18 | 16 | 6 | 3 | 41 | - | - | - | - |
Deferred income tax (benefit) expense | |||||||||
-492 | 2,535 | -1,741 | -1,021 | -608 | -961 | 253 | -551 | 603 | 41 |
Gain on sale of fixed assets | |||||||||
11 | - | 0 | - | - | - | - | - | - | - |
Increase in bank-owned life insurance | |||||||||
1,478 | 1,120 | 1,050 | 893 | 559 | 435 | 439 | 435 | 474 | 534 |
Loss on sale of other real estate owned | |||||||||
- | - | - | -10 | - | 5 | - | - | - | - |
Change in net deferred loan costs | |||||||||
- | - | - | - | - | - | - | - | - | 78 |
Stock based compensation expense | |||||||||
1,405 | 2,559 | 1,649 | 1,660 | 1,753 | 1,647 | 143 | - | - | - |
Excess tax benefit from stock-based compensation | |||||||||
- | - | 329 | 215 | 109 | 31 | - | - | - | - |
Bank-owned life insurance death benefit income | |||||||||
- | - | - | - | - | - | - | - | - | 193 |
Issuance of common stock to Belmont Savings Bank Foundation | |||||||||
- | - | - | - | - | - | - | 1,799 | - | - |
Net change in: | |||||||||
Accrued interest receivable | |||||||||
946 | 1,709 | 854 | 804 | 736 | 24 | 32 | 64 | 94 | 55 |
Other assets | |||||||||
3,864 | 807 | -400 | 1,027 | 43 | 1,723 | 123 | -523 | -889 | 133 |
Income taxes receivable | |||||||||
-4 | -370 | 423 | 321 | -321 | 806 | -806 | 908 | -908 | - |
Income taxes payable | |||||||||
- | - | 145 | 398 | -69 | 209 | -121 | 121 | -345 | -250 |
Accrued interest payable | |||||||||
456 | 571 | 30 | 32 | 278 | 228 | 278 | -46 | -337 | -146 |
Deferred compensation liability | |||||||||
465 | 876 | 609 | 683 | 614 | 452 | 512 | 233 | -3,184 | 616 |
Other liabilities | |||||||||
2,866 | 574 | -2,216 | 446 | 1,088 | 3,875 | 1,378 | 451 | 408 | 833 |
Maturities of interest-bearing time deposits with other banks | |||||||||
- | - | - | - | - | - | - | - | 275 | - |
Net cash provided by operating activities | |||||||||
59,083 | 85,765 | 12,773 | - | - | - | - | -10,163 | -4,303 | 4,348 |
Cash flows from investing activities: | |||||||||
Net cash provided by operating activities | |||||||||
- | - | - | 18,085 | 20,948 | 17,252 | 39,381 | - | - | - |
Maturities of interest-bearing time deposits with other banks | |||||||||
3,340 | 234 | 131 | - | 119 | - | - | - | - | - |
Purchases of interest-bearing time deposits with other banks | |||||||||
5,129 | 2,440 | 234 | - | 131 | - | - | - | - | - |
Purchases of available-for-sale securities | |||||||||
- | - | - | - | - | 17,833 | 22,587 | 709 | 1,422 | - |
Proceeds from sales of available-for-sale securities | |||||||||
0 | 5,038 | 0 | 0 | - | 17,985 | - | 15,650 | 1,547 | - |
Proceeds from maturities of available-for-sale securities | |||||||||
12,750 | - | - | - | - | - | - | - | - | - |
Proceeds from maturities, payments, and calls of held-to-maturity securities | |||||||||
38,558 | 28,362 | 25,976 | 21,459 | 20,330 | 25,585 | 38,350 | 43,059 | 53,043 | 41,954 |
Purchases of held-to-maturity securities | |||||||||
27,214 | 59,022 | 19,812 | 40,708 | 19,616 | 81,891 | 13,745 | 39,650 | 56,173 | 51,940 |
Purchases of community loan fund investments | |||||||||
- | - | - | - | - | 250 | - | - | - | - |
Redemption of Federal Home Loan Bank stock | |||||||||
-22,020 | -3,767 | -3,014 | - | -405 | -496 | -411 | - | - | 200 |
Purchases of Federal Home Loan Bank stock | |||||||||
28,296 | 11,078 | 9,776 | 4,597 | 6,405 | 581 | - | - | - | - |
Recoveries of loans previously charged off | |||||||||
17 | 24 | 61 | 261 | 29 | 155 | 197 | 12 | 8 | - |
Loan originations and principal collections, net | |||||||||
91,532 | 57,732 | -16,997 | 79,445 | 184,634 | 54,098 | 75,311 | - | - | - |
Loan originations and principal collections, net | |||||||||
- | - | - | - | - | - | - | -125,874 | 18,825 | - |
Recoveries of loans previously charged off | |||||||||
- | - | - | - | - | - | - | - | - | -15 |
Loan originations and principal collections, net | |||||||||
- | - | - | - | - | - | - | - | - | -17,087 |
Purchases of loans | |||||||||
274,709 | 438,883 | 350,653 | 288,928 | 169,512 | 129,284 | 99,972 | 47,090 | 4,364 | 18,396 |
Proceeds from sales of fixed assets | |||||||||
25 | - | - | - | - | - | - | - | - | - |
Payoff of first mortgage on OREO | |||||||||
- | - | - | - | - | - | 563 | - | - | - |
Capital expenditures | |||||||||
530 | 512 | 335 | 323 | 503 | 1,182 | 1,419 | 508 | 667 | 326 |
Proceeds from sales of other real estate owned | |||||||||
- | - | - | 1,510 | - | - | - | - | - | - |
Proceeds from sales of other real estate | |||||||||
- | - | - | - | - | 745 | - | - | - | - |
Net cash used in investing activities | |||||||||
- | - | - | -395,784 | -369,922 | -240,238 | -174,664 | - | - | - |
Proceeds from death benefit of bank-owned life insurance | |||||||||
1,905 | - | - | - | - | - | - | - | 2,196 | 300 |
Capital expenditures on other real estate owned | |||||||||
- | - | - | 7 | - | 79 | - | - | - | - |
Premiums paid on bank-owned life insurance | |||||||||
- | 5 | 5,005 | 5,006 | 10,004 | 6 | 25 | 31 | 55 | 123 |
Net cash used in investing activities | |||||||||
-348,795 | -532,247 | -339,636 | - | - | - | - | -155,141 | 13,213 | -11,629 |
Cash flows from financing activities: | |||||||||
Net (decrease) increase in demand deposits, interest-bearing checking and savings accounts | |||||||||
-44,892 | 112,716 | 122,737 | 252,735 | 139,779 | 132,017 | 174,744 | 88,482 | 36,825 | - |
Net increase in demand deposits, NOW and savings accounts | |||||||||
- | - | - | - | - | - | - | - | - | 17,946 |
Net increase in time deposits | |||||||||
254,553 | 169,113 | 77,166 | 32,222 | 80,030 | 24,871 | 2,467 | -4,669 | -2,674 | 11,794 |
Proceeds from long-term Federal Home Loan Bank advances | |||||||||
105,000 | 125,000 | 211,250 | 84,000 | 50,000 | 17,000 | 15,000 | 46,100 | 22,000 | 11,500 |
Principal payments on long-term Federal Home Loan Bank advances | |||||||||
67,000 | 85,000 | 7,000 | 14,100 | 9,000 | 23,000 | 29,500 | 53,300 | 54,900 | 38,800 |
Net change in short-term Federal Home Loan Bank advances | |||||||||
77,100 | 174,300 | -69,400 | 19,000 | 102,000 | 65,000 | - | - | - | - |
Payment to counterparty for interest rate cap contracts | |||||||||
4,085 | - | - | - | - | - | - | - | - | - |
Net change in short-term advances | |||||||||
- | - | - | - | - | - | 2,000 | 10,000 | -4,000 | 13,000 |
Net (decrease) increase in securities sold under agreements to repurchase | |||||||||
-385 | 1,283 | -1,710 | 2,303 | -735 | -1,277 | 419 | 331 | -1,018 | 1,052 |
Repayment of principal on other borrowed funds | |||||||||
- | - | - | 47 | 46 | 43 | 346 | 3,697 | 551 | 1,495 |
Proceeds from exercise of stock options, net of cash paid | |||||||||
537 | 56 | 298 | 228 | 45 | - | - | - | - | - |
Payment of income taxes for shares withheld in stock based award activity | |||||||||
274 | 323 | 118 | - | - | - | - | - | - | - |
Restricted stock awards issued, net of awards surrendered | |||||||||
- | - | - | 51 | 43 | - | - | - | - | - |
Net proceeds from issuance of common stock | |||||||||
- | - | - | - | - | - | - | 88,308 | - | - |
Acquisition of common stock by ESOP | |||||||||
- | - | - | - | - | - | - | -4,586 | - | - |
Net increase in mortgagors' escrow accounts | |||||||||
1,648 | 1,349 | 926 | 688 | 560 | 195 | 416 | 163 | -20 | - |
Payments to repurchase stock | |||||||||
- | - | - | - | - | 6,478 | - | - | - | - |
Excess tax benefit from stock-based compensation | |||||||||
- | - | 329 | 215 | 109 | 31 | - | - | - | - |
Net cash provided by financing activities | |||||||||
- | - | - | 377,193 | 362,699 | 208,316 | 165,200 | - | - | - |
Net increase (decrease) in mortgagors' escrow accounts | |||||||||
- | - | - | - | - | - | - | - | - | -74 |
Net cash provided by financing activities | |||||||||
322,202 | 498,494 | 334,478 | - | - | - | - | 167,132 | -4,338 | 15,071 |
Net increase (decrease) in cash and cash equivalents | |||||||||
32,490 | 52,012 | 7,615 | -506 | 13,725 | -14,670 | 29,917 | 1,828 | 4,572 | 7,790 |
Supplemental disclosures: | |||||||||
Interest paid | |||||||||
36,701 | 20,483 | 14,201 | - | - | - | - | - | - | - |
Interest paid | |||||||||
- | - | - | 10,162 | 6,773 | 4,759 | 4,855 | 5,691 | 7,880 | 11,267 |
Income taxes paid | |||||||||
9,020 | 8,977 | 9,446 | 4,624 | 3,557 | 988 | 1,387 | -183 | 870 | - |
Transfer of trading securities to available-for-sale securities | |||||||||
- | - | - | - | - | - | - | - | 12,362 | - |
Transfer of available-for-sale securities to other assets | |||||||||
- | - | - | - | - | - | - | 1 | - | - |
Income taxes paid | |||||||||
- | - | - | - | - | - | - | - | - | 1,633 |
Transfer of loans receivable to loans held for sale | |||||||||
37,168 | 63,913 | - | 10,116 | 14,757 | - | 28,355 | - | - | - |
Transfer of loans to other real estate owned | |||||||||
- | - | - | 1,513 | - | - | 98 | - | - | - |
Derecognition of loans and related recourse obligation in other borrowings | |||||||||
- | - | 1,020 | - | - | - | - | - | - | - |
Transfer of loans held for sale to loans receivable | |||||||||
- | - | - | - | - | 1,347 | - | - | - | - |