| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash Flows From Operating Activities | ||||||
Net income | ||||||
15,828 | 10,869 | 7,690 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
643 | 497 | 536 | ||||
Provision for loan losses | ||||||
1,720 | 1,920 | 1,200 | ||||
Net amortization of premium of securities | ||||||
377 | 534 | 580 | ||||
Net amortization of deferred loan costs and purchase premiums | ||||||
-755 | -534 | -657 | ||||
Net accretion of acquisition accounting adjustments | ||||||
487 | -64 | - | ||||
Gain on calls of held-to-maturity securities | ||||||
3 | - | - | ||||
Loss on loans held for sale | ||||||
145 | - | - | ||||
Amortization of subordinated debt issuance costs | ||||||
80 | 80 | 80 | ||||
Realized losses (gains) on securities sales | ||||||
- | -462 | 164 | ||||
Core deposits intangible amortization | ||||||
385 | 118 | 20 | ||||
Equity-based compensation expense | ||||||
679 | 707 | 628 | ||||
BOLI income | ||||||
662 | 438 | 855 | ||||
Deferred income tax (benefit) | ||||||
- | - | 1,327 | ||||
Gain on foreclosure of other real estate owned | ||||||
- | - | 1,076 | ||||
Changes in assets and liabilities: | ||||||
Increase in accrued interest receivable, prepaid expenses and other assets | ||||||
2,044 | 4,532 | -94 | ||||
Increase (decrease) in accrued interest payable, accrued expenses and other liabilities | ||||||
1,826 | 3,520 | -223 | ||||
Net cash provided by operating activities | ||||||
20,401 | 13,341 | 10,494 | ||||
Cash Flows From Investing Activities | ||||||
Maturities of certificates of deposits purchased for investment | ||||||
-245 | -245 | -250 | ||||
(Increase) decrease in interest-bearing deposits at other financial institutions | ||||||
15,834 | -15,047 | -11,630 | ||||
Purchases of securities available-for-sale | ||||||
36,619 | 37,044 | 22,137 | ||||
Proceeds from maturities and calls of securities held-to-maturity | ||||||
1,500 | - | - | ||||
Proceeds from sales of securities available-for-sale | ||||||
- | - | 2,600 | ||||
Proceeds from maturities and calls of securities available-for-sale | ||||||
1,250 | - | 14,958 | ||||
Net purchase of restricted stock | ||||||
- | - | 994 | ||||
Proceeds from redemptions of securities available-for-sale | ||||||
21,055 | 16,938 | - | ||||
Net purchase of restricted stock | ||||||
718 | 470 | - | ||||
Net increase in loans | ||||||
147,195 | 106,324 | 123,951 | ||||
Proceeds from sale of OREO | ||||||
358 | - | - | ||||
Purchases of BOLI | ||||||
20,000 | - | 4,285 | ||||
Purchases of premises and equipment, net | ||||||
311 | 743 | 500 | ||||
Net cash used in investing activities | ||||||
-164,601 | -114,261 | -143,670 | ||||
Cash Flows From Financing Activities | ||||||
Net increase in noninterest-bearing, interest-bearing checking, savings, and money market deposits | ||||||
46,329 | 195,001 | - | ||||
Net increase in noninterest-bearing, interest-bearing checking, savings, and money market deposits | ||||||
- | - | 19,603 | ||||
Net increase in time deposits | ||||||
77,132 | -99,113 | 132,568 | ||||
Net increase (decrease) in FHLB advances | ||||||
-15,000 | 27,577 | - | ||||
Net decrease in FHLB advances | ||||||
- | - | 27,000 | ||||
Decrease in federal funds purchased | ||||||
-10,000 | - | - | ||||
Cash paid in lieu of fractional shares | ||||||
- | - | 4 | ||||
Common stock issuance | ||||||
1,220 | 34,616 | 10,263 | ||||
Net cash provided by financing activities | ||||||
149,681 | 102,927 | 135,430 | ||||
Net increase in cash and cash equivalents | ||||||
5,481 | 2,007 | 2,254 | ||||