| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 |
|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net income | ||||||||
10,872 | 4,982 | 4,103 | 5,132 | 2,580 | 2,111 | 1,973 | 2,178 | 2,410 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Loan loss provision | ||||||||
2,627 | 980 | 1,228 | 1,833 | 1,303 | 608 | 678 | 1,101 | 948 |
Write-down on real estate owned and other repossessed assets | ||||||||
66 | 28 | 45 | 0 | - | - | - | - | - |
Write-down on real estate owned and other repossessed assets | ||||||||
- | - | - | - | - | 10 | 192 | 169 | 201 |
Depreciation | ||||||||
1,786 | 1,282 | 969 | 1,058 | 1,231 | 1,146 | 931 | 760 | 739 |
Net amortization of investment securities premiums and discounts | ||||||||
-866 | -1,237 | -1,555 | -1,838 | -1,988 | -2,839 | -2,169 | -374 | -553 |
Amortization of mortgage servicing rights | ||||||||
1,637 | 1,203 | 1,086 | 1,249 | 799 | 630 | 752 | 629 | 1,158 |
Amortization of right-of-use assets | ||||||||
474 | - | - | - | - | - | - | - | - |
Amortization of core deposit intangible and tax credits | ||||||||
812 | 700 | 426 | 445 | 432 | 427 | 360 | - | - |
Compensation expense related to restricted stock awards | ||||||||
429 | 281 | - | - | - | - | - | - | - |
ESOP compensation expense for allocated shares | ||||||||
294 | 316 | - | - | - | - | - | - | - |
Deferred income tax benefit | ||||||||
739 | 880 | 202 | -20 | -344 | -153 | -675 | - | - |
Net gain on sale of loans | ||||||||
16,675 | 7,743 | 8,803 | 10,346 | 6,672 | 4,586 | 5,417 | 1,695 | 2,187 |
Originations of loans held-for-sale | ||||||||
498,604 | 279,927 | - | - | - | - | - | - | - |
Proceeds from sales of loans held-for-sale | ||||||||
496,675 | 289,285 | - | - | - | - | - | - | - |
Net loss on sale of available-for-sale securities | ||||||||
69 | -187 | 37 | - | - | - | - | - | - |
Net gain on sale of available-for-sale securities | ||||||||
- | - | - | 249 | 234 | 1,073 | 1,261 | 490 | 19 |
Net loss on sale of real estate owned and other repossessed assets | ||||||||
-18 | -54 | -29 | 6 | -13 | -50 | -26 | -6 | -2 |
Net loss on fair value hedge | ||||||||
- | - | - | - | -93 | -63 | 204 | -417 | 198 |
Net gain on sale/disposal of premises and equipment | ||||||||
486 | 9 | 1 | -6 | 305 | 15 | 285 | - | -84 |
Net appreciation in cash surrender value of life insurance | ||||||||
720 | 486 | 386 | 466 | 329 | 322 | - | - | - |
Net appreciation in cash surrender value of life insurance | ||||||||
- | - | - | - | - | - | 297 | 272 | 209 |
Net change in: | ||||||||
Accrued interest and dividends receivable | ||||||||
-158 | 219 | 432 | -155 | -40 | 42 | 1,016 | -187 | -52 |
Loans held-for-sale | ||||||||
- | - | -17,851 | -10,741 | -5,696 | -8,027 | 4,388 | 6,958 | -7,775 |
Other assets | ||||||||
1,037 | 7 | -1,107 | -552 | 1,603 | 649 | 685 | -593 | 342 |
Accrued expenses and other liabilities | ||||||||
504 | 547 | 1,111 | 971 | 196 | 526 | 272 | 1,454 | 529 |
Net cash provided by operating activities | ||||||||
366 | 13,571 | 20,053 | 12,893 | - | - | - | - | 11,496 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
Sales | ||||||||
58,027 | 51,319 | 10,585 | - | - | - | - | - | - |
Net cash provided by operating activities | ||||||||
- | - | - | - | 4,884 | 9,597 | -6,875 | -1,547 | - |
Sales | ||||||||
- | - | - | 23,649 | 31,301 | 52,058 | 19,501 | 9,000 | 5,544 |
Maturities, principal payments and calls | ||||||||
13,646 | 11,908 | 10,014 | 9,882 | 12,515 | 22,344 | 32,888 | 20,961 | 25,093 |
Purchases | ||||||||
51,464 | 45,970 | 24,365 | - | - | - | - | - | - |
Purchases | ||||||||
- | - | - | 18,859 | 28,872 | 44,738 | 192,919 | 15,526 | 18,434 |
FHLB stock (purchased) redeemed | ||||||||
-592 | 814 | 74 | 615 | 1,429 | -53 | -72 | - | - |
FRB stock purchased | ||||||||
493 | 568 | 594 | -16 | 246 | - | - | - | - |
Net cash received from acquisitions | ||||||||
-6,901 | 4,243 | - | - | - | - | - | - | - |
Loan origination and principal collection, net | ||||||||
79,888 | 50,581 | 49,118 | 62,201 | 90,477 | - | - | - | - |
Cash received in acquisition of Sterling Bank branches, net of cash paid | ||||||||
- | - | - | - | - | - | 130,094 | - | - |
Final valuation adjustments related to acquisition of Sterling Bank branches | ||||||||
- | - | - | - | - | 144 | - | - | - |
Maturities, prepayments and calls | ||||||||
- | - | - | - | - | - | - | - | 125 |
Loan origination and principal collection, net | ||||||||
- | - | - | - | - | 61,166 | 2,476 | -8,087 | 18,810 |
Proceeds from Bank owned life insurance | ||||||||
519 | 205 | - | 885 | 0 | 109 | - | - | - |
Purchases of Bank owned life insurance | ||||||||
- | 5,600 | - | 2,000 | 450 | - | 1,400 | 2,000 | - |
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans | ||||||||
352 | 475 | 292 | 353 | 87 | 83 | 1,856 | 386 | 166 |
Insurance proceeds related to premises and equipment | ||||||||
- | - | - | - | - | 31 | - | - | - |
Proceeds from sale of premises and equipment | ||||||||
2,650 | 9 | 2 | 7 | 1,438 | - | 647 | - | - |
Purchases of premises and equipment, net | ||||||||
10,543 | 7,062 | 3,535 | 2,247 | 630 | 2,320 | 1,391 | 170 | 1,128 |
Net cash used in investing activities | ||||||||
- | - | - | - | -76,763 | -33,690 | -13,128 | 20,738 | - |
Net cash used in investing activities | ||||||||
-59,701 | -50,922 | -56,793 | -51,130 | - | - | - | - | -7,444 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
Net (decrease) increase in deposits | ||||||||
89,676 | 23,857 | 7,769 | 29,613 | 41,782 | 9,294 | 15,299 | 10,803 | 11,247 |
Net short-term advances (payments) on FHLB and other borrowings | ||||||||
-13,184 | 46,687 | -34,027 | 15,313 | -1,723 | 20,793 | - | - | - |
Net short-term advances from Federal Home Loan Bank and other borrowings | ||||||||
- | - | - | - | - | - | 7,500 | - | - |
Long-term advances from FHLB and other borrowings | ||||||||
33,000 | 4,000 | 46,300 | 5,000 | 33,000 | 5,000 | 865 | - | - |
Payments on long-term FHLB and other borrowings | ||||||||
32,823 | 31,434 | 11,717 | 10,616 | 13,554 | 9,200 | 16,200 | - | - |
Proceeds from issuance of long-term debt | ||||||||
- | - | 10,000 | 0 | - | - | - | - | - |
Proceeds from issuance of long-term debt | ||||||||
- | - | - | - | 10,000 | - | - | - | - |
Payments for debt issuance costs | ||||||||
- | - | 219 | 0 | 206 | - | - | - | - |
Proceeds from issuance of common stock | ||||||||
- | - | 20,157 | 0 | - | - | - | - | - |
Purchase of treasury stock | ||||||||
1,210 | - | - | - | 1,320 | - | - | 414 | 1,796 |
Net change in advances from the FHLB and other borrowings | ||||||||
- | - | - | - | - | - | - | -18,200 | -6,328 |
Dividends paid | ||||||||
2,407 | 1,995 | 1,404 | 1,193 | 1,164 | 1,136 | 1,114 | 1,106 | 1,144 |
Net cash (used in) provided by financing activities | ||||||||
73,052 | 41,115 | 36,859 | 38,117 | - | - | - | - | 1,979 |
Net cash provided by financing activities | ||||||||
- | - | - | - | 66,815 | 24,751 | 6,350 | -8,917 | - |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | ||||||||
13,717 | 3,764 | 119 | -120 | -5,064 | 658 | -13,653 | 10,274 | 6,031 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||||||||
Cash paid during the period for interest | ||||||||
6,968 | 4,824 | - | - | - | - | - | - | - |
Cash paid during the period for income taxes | ||||||||
2,777 | 395 | - | - | - | - | - | - | - |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||||||
Increase in fair value of securities available-for-sale | ||||||||
3,620 | -1,926 | - | - | - | - | - | - | - |
Mortgage servicing rights recognized | ||||||||
3,276 | 1,725 | - | - | - | - | - | - | - |
Right-of-use assets obtained in exchange for lease liabilities | ||||||||
2,374 | - | - | - | - | - | - | - | - |
Loans transferred to real estate and other assets acquired in foreclosure | ||||||||
132 | 4 | - | - | - | - | - | - | - |
Stock issued in connection with acquisitions | ||||||||
16,435 | 9,030 | - | - | - | - | - | - | - |