| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Net Income (Loss) Attributable to Parent | |||||||||
13,634 | 12,048 | 6,928 | 9,285 | 8,664 | 4,356 | 5,780 | 5,060 | 3,931 | 3,307 |
OPERATING ACTIVITIES: | |||||||||
Adjustments to reconcile net income to net cash provided by operating activities- | |||||||||
Provision for loan losses | |||||||||
1,350 | 900 | 600 | -300 | 1,100 | 5,750 | 1,077 | 2,149 | 2,558 | 2,325 |
Provision for loss on other real estate owned | |||||||||
- | - | - | - | 382 | 112 | 759 | 2,345 | 147 | 159 |
Depreciation and amortization | |||||||||
1,444 | 1,389 | 1,380 | 1,415 | 1,476 | 1,734 | 1,071 | 1,172 | 1,060 | 648 |
Net amortization of premiums and discounts on securities | |||||||||
-675 | -556 | -879 | -1,141 | -810 | -1,127 | -1,081 | -1,468 | -1,617 | -1,090 |
SBA loan discount accretion | |||||||||
391 | 323 | 247 | 153 | 56 | - | - | - | - | - |
Gain on bargain purchase | |||||||||
0 | 230 | 0 | 0 | - | - | - | - | - | - |
Gain on sales/calls of securities available for sale | |||||||||
30 | 12 | 93 | - | - | - | - | - | - | - |
Gain on sales of securities available for sale | |||||||||
- | - | - | 0 | - | - | - | - | - | - |
Gain on sales of securities held for sale | |||||||||
- | - | - | - | 0 | -1 | - | 313 | 0 | - |
Gain on sales of securities held to maturity | |||||||||
0 | 0 | 36 | 0 | 0 | - | - | - | - | - |
Loss (gain) on sales of other real estate owned | |||||||||
-101 | 0 | 5 | 31 | -692 | 43 | 923 | -13 | 48 | 151 |
Gains on sales of loans held for sale | |||||||||
4,885 | 4,475 | 5,149 | 3,785 | 4,039 | 3,103 | 2,064 | 1,862 | 1,776 | - |
Gains on sales of loans held for sale | |||||||||
- | - | - | - | - | - | - | - | - | 1,635 |
Originations of loans held for sale | |||||||||
146,808 | 111,109 | 110,831 | 96,968 | 134,073 | 114,752 | 138,980 | 178,044 | 139,478 | 153,818 |
Proceeds from sales of loans held for sale | |||||||||
148,786 | 116,818 | 126,555 | 91,708 | 140,486 | 120,407 | 166,081 | 163,180 | 143,239 | 155,749 |
Increase in cash surrender value on bank-owned life insurance | |||||||||
623 | 589 | 522 | 549 | 558 | 564 | 457 | 447 | 404 | - |
Loss on cash surrender value on bank-owned life insurance | |||||||||
0 | 14 | 0 | 0 | - | - | - | - | - | - |
Income on bank-owned life insurance | |||||||||
- | - | - | - | - | - | - | - | - | 405 |
Share-based compensation expense | |||||||||
1,104 | 1,019 | 993 | 754 | 631 | 585 | 501 | 474 | 426 | 270 |
Increase in deferred tax asset | |||||||||
-604 | -305 | -620 | -354 | -159 | 143 | -1,484 | 1,792 | 218 | - |
Noncash rent and equipment expense | |||||||||
192 | 0 | 0 | - | - | - | - | - | - | - |
Re-measurement of deferred tax assets and liabilities | |||||||||
0 | -28 | 1,700 | - | - | - | - | - | - | - |
Re-measurement of deferred tax assets and liabilities | |||||||||
0 | -28 | 1,700 | 0 | 0 | - | - | - | - | - |
Deferred tax benefit | |||||||||
- | - | - | - | - | - | - | - | - | -969 |
Decrease in accrued interest receivable | |||||||||
307 | 123 | 383 | 242 | -243 | 553 | -330 | -124 | 588 | 131 |
Increase in other assets | |||||||||
-511 | 1,589 | 181 | -388 | -617 | -620 | -1,167 | 16 | 305 | -1,975 |
(Decrease) increase in accrued interest payable | |||||||||
364 | 424 | -62 | 20 | -61 | 24 | -175 | -128 | -340 | -322 |
Decrease in accrued expenses and other liabilities | |||||||||
-2,459 | 2,333 | -266 | -552 | -363 | 1,362 | -236 | - | - | - |
Decrease in accrued expenses and other liabilities | |||||||||
- | - | - | - | - | - | - | 1,026 | -306 | 179 |
Net cash (used in) provided by operating activities | |||||||||
13,262 | 17,328 | 21,892 | 2,485 | 16,110 | 16,920 | 36,496 | -5,588 | 9,610 | 8,271 |
INVESTING ACTIVITIES: | |||||||||
Purchases of securities : | |||||||||
Purchases of securities: | |||||||||
Available for sale | |||||||||
33,972 | 35,209 | 35,680 | 37,300 | - | - | - | - | - | - |
Available for sale | |||||||||
- | - | - | - | 34,109 | 0 | 16,947 | 57,242 | 69,849 | 40,266 |
Held to maturity | |||||||||
16,188 | 7,723 | 34,592 | 35,212 | 15,599 | 18,424 | 71,384 | 6,602 | 97,428 | 121,763 |
Proceeds from maturities and payments of securities: | |||||||||
Proceeds from maturities and prepayments of securities: | |||||||||
Available for sale | |||||||||
39,086 | 17,664 | 25,770 | 23,354 | 18,783 | 23,606 | 22,346 | 34,468 | 62,413 | 158,903 |
Held to maturity | |||||||||
18,891 | 38,192 | 49,889 | 31,429 | 35,705 | 27,238 | 33,957 | 31,924 | 35,622 | 63,292 |
Proceeds from sales of securities: | |||||||||
Available for sale | |||||||||
0 | 0 | 7,602 | 0 | - | - | - | - | - | - |
Available for sale | |||||||||
- | - | - | - | 0 | 28,113 | - | 6,074 | 0 | - |
Held to maturity | |||||||||
0 | 0 | 1,034 | 0 | 0 | - | - | - | - | - |
Proceeds from bank-owned life insurance benefits paid | |||||||||
0 | 893 | 0 | 248 | 0 | - | - | - | - | - |
Net (purchase) redemption of restricted stock | |||||||||
-272 | -2,510 | 2,408 | - | - | - | - | - | - | - |
Net (increase) in loans | |||||||||
127,121 | 19,762 | 65,387 | - | - | - | - | - | - | - |
Capital expenditures | |||||||||
161 | 648 | 846 | - | - | - | - | - | - | - |
Net purchase of restricted stock | |||||||||
- | - | - | 661 | 1,516 | - | - | - | - | - |
Net (increase) decrease in loans | |||||||||
- | - | - | 42,626 | 30,590 | 147,363 | -144,698 | 47,469 | 75,323 | 38,433 |
Capital expenditures | |||||||||
- | - | - | 457 | 706 | 493 | 216 | 1,095 | 540 | 1,861 |
Forfeitable deposit on other real estate owned | |||||||||
0 | 175 | 0 | - | - | - | - | - | - | - |
Forfeitable deposit on other real estate owned | |||||||||
0 | 175 | 0 | 0 | - | - | - | - | - | - |
Capital improvement to other real estate owned | |||||||||
0 | 0 | 5 | 61 | 0 | - | 11 | 141 | 733 | 83 |
Net cash received from the Shore Merger | |||||||||
- | - | - | - | - | 21,375 | - | - | 101,539 | - |
Proceeds from sales of other real estate owned | |||||||||
2,448 | 0 | 631 | 1,033 | 6,027 | 287 | 8,039 | 2,412 | - | - |
Purchase of bank-owned life insurance | |||||||||
100 | 0 | 2,345 | 300 | 0 | - | 700 | 1,000 | 1,700 | 750 |
Proceeds from sales of other real estate owned | |||||||||
- | - | - | - | - | - | - | - | 2,934 | 1,911 |
Net cash used in investing activities | |||||||||
-109,949 | -9,924 | -51,521 | -60,553 | -22,005 | -65,661 | 119,782 | -38,670 | -43,066 | 20,949 |
FINANCING ACTIVITIES: | |||||||||
Exercise of stock options | |||||||||
149 | 88 | 247 | 96 | - | - | - | - | - | - |
Exercise of stock options | |||||||||
- | - | - | - | 292 | 299 | 603 | - | - | - |
Issuance of vested shares | |||||||||
- | - | - | - | - | - | - | -484 | -336 | - |
Exercise of stock options and issuance of vested shares under employee benefit programs | |||||||||
- | - | - | - | - | - | - | - | - | -230 |
Exercise of stock options and issuance of vested shares | |||||||||
- | - | - | - | - | - | - | - | - | -230 |
Purchase of treasury shares | |||||||||
- | - | - | 24 | 359 | 144 | 111 | 122 | 33 | 4 |
Cash dividends paid to shareholders | |||||||||
2,593 | 2,120 | 1,690 | 399 | 0 | - | - | - | - | - |
Dividend paid on preferred stock | |||||||||
- | - | - | - | - | - | - | - | - | 570 |
Net increase in deposits | |||||||||
76,854 | -58,557 | 87,490 | 47,759 | -31,004 | -10,275 | -69,137 | 83,826 | -31,762 | -28,420 |
Increase (decrease) in short-term borrowings | |||||||||
- | - | - | - | - | 4,128 | -32,400 | -45,900 | 62,400 | - |
Repayment of long-term borrowings | |||||||||
- | - | - | - | - | - | - | - | - | -12,500 |
Increase (decrease) in overnight borrowings | |||||||||
20,275 | 51,275 | -42,550 | 24,154 | 33,789 | - | - | - | - | 15,900 |
Repayment of long-term borrowing | |||||||||
0 | 0 | 10,000 | 10,000 | 0 | - | - | - | - | - |
Proceeds from issuance of common stock through Shareholders' Rights Plan | |||||||||
- | - | - | - | - | - | - | 4,819 | 0 | - |
Repayment of preferred stock | |||||||||
- | - | - | - | - | - | - | - | - | 12,000 |
Net cash provided by (used in) financing activities | |||||||||
94,685 | -9,314 | 33,497 | 61,586 | 2,718 | -5,992 | -101,045 | 43,108 | 30,940 | -37,364 |
Decrease in cash and cash equivalents | |||||||||
-2,002 | -1,910 | 3,868 | - | - | - | - | - | - | - |
Supplemental Disclosures of Cash Flow Information | |||||||||
Net increase (decrease) in cash | |||||||||
- | - | - | 3,518 | -3,177 | -54,733 | 55,233 | -1,150 | -2,515 | -8,143 |
Cash paid during the period for : | |||||||||
Cash paid during the period for - | |||||||||
Interest | |||||||||
12,387 | 7,617 | 5,560 | 5,138 | - | - | - | - | - | - |
Interest | |||||||||
- | - | - | - | 4,697 | 4,634 | 4,429 | 5,279 | 7,128 | 9,142 |
Income taxes | |||||||||
6,108 | 3,226 | 3,220 | 4,590 | 4,170 | 784 | 1,751 | 3,177 | 1,774 | 2,630 |
Noncash items: | |||||||||
Transfer of loans to other real estate owned | |||||||||
0 | 1,460 | 455 | 141 | 2,357 | 3,995 | 2,590 | 553 | - | - |
Right-of-use assets | |||||||||
15,674 | - | - | - | - | - | - | - | - | - |
Lease liability | |||||||||
16,142 | - | - | - | - | - | - | - | - | - |
Acquisition of Shore Community Bank in 2019 and New Jersey Community Bank in 2018 | |||||||||
Noncash assets acquired: | |||||||||
Investment securities available for sale | |||||||||
26,440 | 11,173 | - | - | - | - | - | - | - | - |
Loans | |||||||||
205,833 | 75,144 | - | - | - | - | - | - | - | - |
Loans | |||||||||
205,833 | 75,144 | - | - | - | - | - | - | - | - |
Premises and equipment, net | |||||||||
4,433 | 1,120 | - | - | - | - | - | - | - | - |
Bank-owned life insurance | |||||||||
7,250 | 3,972 | - | - | - | - | - | - | - | - |
Accrued interest receivable | |||||||||
778 | 259 | - | - | - | - | - | - | - | - |
Bank-owned life insurance | |||||||||
7,250 | 3,972 | - | - | - | - | - | - | - | - |
Accrued interest receivable | |||||||||
778 | 259 | - | - | - | - | - | - | - | - |
Core deposit intangible asset | |||||||||
1,467 | 80 | - | - | - | - | - | - | - | - |
Other real estate owned | |||||||||
605 | 1,230 | - | - | - | - | - | - | - | - |
Right-of-use assets | |||||||||
3,226 | - | - | - | - | - | - | - | - | - |
Other assets | |||||||||
2,518 | 1,601 | - | - | - | - | - | - | - | - |
Value of assets acquired | |||||||||
252,550 | 94,579 | - | - | - | 191,138 | - | - | - | - |
Liabilities assumed: | |||||||||
Deposits | |||||||||
249,836 | 87,223 | - | - | - | - | - | - | - | - |
Lease liability | |||||||||
3,226 | - | - | - | - | - | - | - | - | - |
Deposits | |||||||||
249,836 | 87,223 | - | - | - | - | - | - | - | - |
Other liabilities | |||||||||
948 | 636 | - | - | - | - | - | - | - | - |
Value of liabilities assumed | |||||||||
254,010 | 87,859 | - | - | - | 201,352 | - | - | - | - |
Common stock issued for acquisition | |||||||||
- | - | - | - | - | 11,161 | - | - | - | - |
Real estate acquired in full satisfaction of loans in foreclosure | |||||||||
- | - | - | - | - | - | - | - | 9,954 | - |
Real estate acquired in full satisfaction of loans in foreclosure | |||||||||
- | - | - | - | - | - | - | - | - | 5,324 |
New Jersey Community Bank [Member] | |||||||||
Net cash paid for NJCB Merger | |||||||||
0 | 996 | 0 | - | - | - | - | - | - | - |
Shore Community Bank [Member] | |||||||||
Net cash received from the Shore Merger | |||||||||
7,440 | 0 | 0 | - | - | - | - | - | - | - |