| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
14,143 | 8,734 | 3,644 | 2,822 | 1,172 | ||
Adjustments to reconcile net income to net cash used in operating activities: | ||||||
Provision for loan losses | ||||||
1,850 | 1,375 | 905 | 595 | 930 | ||
Net gains on securities available-for-sale | ||||||
- | - | - | 6 | - | ||
Depreciation | ||||||
506 | 421 | 411 | 166 | 237 | ||
Stock compensation expense | ||||||
1,095 | 1,503 | 554 | 388 | 138 | ||
Deferred tax (benefit) expense | ||||||
-116 | -370 | 1,048 | 1,521 | - | ||
Net amortization: | ||||||
Securities | ||||||
-550 | -446 | -403 | -344 | -256 | ||
Loans | ||||||
-278 | -476 | -632 | -421 | -395 | ||
Right of use asset | ||||||
382 | - | - | - | - | ||
Changes in other assets and liabilities: | ||||||
Accrued interest receivable | ||||||
-613 | 1,019 | 1,295 | 123 | 321 | ||
Deferred tax asset | ||||||
- | - | - | - | -546 | ||
Other assets | ||||||
4,974 | 3,351 | 2,309 | 202 | 2,123 | ||
Decrease in operating lease liability | ||||||
-314 | - | - | - | - | ||
Accrued expenses and other liabilities | ||||||
882 | 1,213 | -14 | 172 | 292 | ||
Write-offs related to offices closed | ||||||
- | - | - | 221 | 47 | ||
Net cash provided by operating activities | ||||||
14,895 | 9,428 | 3,979 | 6,319 | - | ||
Cash flows from investing activities: | ||||||
Net cash provided by operating activities | ||||||
- | - | - | - | 1,569 | ||
Cash flows from investing activities: | ||||||
Net change in loans | ||||||
98,036 | 119,609 | 71,086 | 54,461 | 52,533 | ||
Purchases of securities available-for-sale | ||||||
28,202 | 42,482 | 58,503 | 30,235 | - | ||
Proceeds of sales of securities available-for-sale | ||||||
- | - | - | 4,068 | - | ||
Purchases of securities available for sale | ||||||
- | - | - | - | 24,664 | ||
Settlement of sales of securities available-for-sale | ||||||
- | - | - | - | 6,719 | ||
Principal repayments on securities available for sale | ||||||
31,070 | 23,411 | 21,522 | 16,691 | 10,790 | ||
Purchase of securities, restricted | ||||||
82 | 400 | 534 | 453 | 1,202 | ||
Redemption of securities, restricted | ||||||
- | - | - | 234 | 9 | ||
Purchase of equity investment without readily determinable fair value | ||||||
- | 2,410 | - | - | - | ||
Other assets | ||||||
- | - | - | 1,250 | - | ||
Purchases of premises and equipment | ||||||
647 | 569 | 190 | 2,666 | 85 | ||
Net cash used in investing activities | ||||||
-95,897 | -142,059 | -108,791 | -65,572 | - | ||
Cash flows from financing activities: | ||||||
Net cash used in investing activities | ||||||
- | - | - | - | -60,966 | ||
Cash flows from financing activities: | ||||||
Net increase in deposits | ||||||
-112,199 | -119,927 | -77,706 | -69,101 | -10,913 | ||
Decrease in secured borrowings | ||||||
3 | 189 | 93 | 10 | 10 | ||
Exercise of stock options | ||||||
50 | 378 | 942 | - | - | ||
Proceeds from the issuance of common stock, net of issuance costs | ||||||
- | - | 26,341 | 1 | 9,757 | ||
Net cash provided by financing activities | ||||||
112,246 | 120,116 | 104,896 | 69,092 | - | ||
Increase (decrease) in cash and cash equivalents | ||||||
31,244 | -12,515 | 84 | - | - | ||
Increase in cash and cash equivalents | ||||||
- | - | - | 9,839 | - | ||
Net cash provided by financing activities | ||||||
- | - | - | - | 20,660 | ||
Decrease in cash and cash equivalents | ||||||
- | - | - | - | -38,737 | ||
Supplemental disclosures of cash flow information: | ||||||
Cash paid during the period for: | ||||||
Interest | ||||||
2,551 | 1,203 | 535 | 508 | - | ||
Interest | ||||||
- | - | - | - | 458 | ||
Taxes | ||||||
5,149 | 2,675 | 2,630 | 234 | 95 | ||
Noncash transactions: | ||||||
Exchange of preferred stock for common stock | ||||||
- | - | 1 | 1 | - | ||
Right of use asset obtained in exchange for lease liability | ||||||
3,640 | - | - | - | - | ||