| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
9,325 | 7,915 | 6,339 | 3,823 | 4,562 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Amortization of securities premiums, net of accretion | ||||||
-274 | -740 | -849 | -860 | -919 | ||
ESOP expense | ||||||
613 | 511 | 359 | 301 | - | ||
Contribution of stock to charitable foundation | ||||||
- | - | - | 1,900 | - | ||
Gain on sale of securities, net | ||||||
- | 5,912 | 690 | 317 | 428 | ||
Change in deferred loan fees, net | ||||||
-378 | -418 | -50 | 6 | 36 | ||
Provision for loan losses | ||||||
3,329 | 2,929 | 703 | 805 | 1,452 | ||
Depreciation and amortization | ||||||
721 | 811 | 832 | 713 | 767 | ||
Gain on disposals of premises and equipment | ||||||
-6 | -2 | -60 | 2 | - | ||
Increase in accrued interest receivable | ||||||
293 | 25 | 69 | 195 | 99 | ||
(Increase) decrease in taxes receivable | ||||||
- | - | - | -146 | -791 | ||
Deferred tax benefit | ||||||
-1,241 | 1,309 | -394 | -966 | -893 | ||
Share-based compensation expense | ||||||
928 | 926 | 113 | - | - | ||
Increase in cash surrender value of life insurance | ||||||
686 | 645 | 602 | 452 | 380 | ||
Increase in other assets | ||||||
2,787 | 1,036 | 1,221 | 439 | 1,354 | ||
(Decrease) increase in other liabilities | ||||||
-613 | 539 | 163 | 230 | 361 | ||
Net cash provided by operating activities | ||||||
16,754 | 9,476 | - | - | - | ||
Cash flows from investing activities: | ||||||
Net cash provided by operating activities | ||||||
- | - | 8,608 | 6,819 | 7,648 | ||
Purchases of available-for-sale securities | ||||||
- | 13,121 | 9,835 | 17,841 | 12,028 | ||
Proceeds from sales of available-for-sale securities | ||||||
- | 57,259 | 3,286 | 739 | 12,353 | ||
Proceeds from pay downs, maturities and calls of available-for-sale securities | ||||||
8,632 | 14,026 | 15,379 | 10,913 | 13,948 | ||
Purchases of held-to-maturity securities | ||||||
- | - | - | - | 1,434 | ||
Proceeds from pay downs, maturities and calls of held-to-maturity securities | ||||||
- | - | 220 | 450 | 2,045 | ||
Purchase of Federal Home Loan Bank stock, net of redemptions | ||||||
796 | -933 | - | - | - | ||
Redemption of Federal Home Loan Bank Stock | ||||||
- | - | 523 | 332 | 1,676 | ||
Loan originations and purchases, net of paydowns | ||||||
100,073 | 121,060 | 70,249 | - | 10,571 | ||
Additions to premises and equipment | ||||||
2,399 | 3,426 | 873 | 1,819 | 576 | ||
Additions to assets held-for-sale | ||||||
147 | 67 | - | - | - | ||
Loan originations and principal collections, net | ||||||
- | - | - | 61,582 | 45,375 | ||
Recoveries of loans previously charged off | ||||||
- | - | - | 37 | 59 | ||
Proceeds from the sale of equipment | ||||||
- | - | - | 5 | - | ||
Additions to other real estate owned | ||||||
52 | - | - | - | - | ||
Purchase of bank owned life insurance | ||||||
- | 5,500 | - | 6,197 | - | ||
Net cash used in investing activities | ||||||
-94,835 | -70,956 | - | - | - | ||
Cash flows from financing activities: | ||||||
Net cash used in investing activities | ||||||
- | - | -61,549 | -74,963 | -39,903 | ||
Net (decrease) increase in demand deposits, NOW and savings accounts | ||||||
22,841 | 110,748 | 84,063 | 40,512 | 27,542 | ||
Net increase (decrease) increase in time deposits | ||||||
-4,802 | 11,327 | -33,316 | 39 | 838 | ||
Proceeds from sale of common stock, net | ||||||
- | - | - | 41,197 | - | ||
Common stock purchased by ESOP | ||||||
- | - | - | -3,572 | - | ||
Proceeds from advances from the Federal Home Loan Bank | ||||||
- | - | - | - | 3,351 | ||
Proceeds from advances from the Federal Home Loan Bank | ||||||
10,000 | 7,000 | 5,388 | - | - | ||
Net change in short-term borrowings | ||||||
31,181 | -30,017 | -12,953 | 18,186 | 1,600 | ||
Purchase of treasury stock | ||||||
215 | 594 | 0 | - | - | ||
Net cash provided by financing activities | ||||||
59,005 | 98,464 | - | - | - | ||
Redemption of SBLF preferred stock | ||||||
- | - | - | 17,145 | - | ||
Preferred stock dividends | ||||||
- | - | - | 167 | 172 | ||
Net cash (used in) provided by financing activities | ||||||
- | - | 43,182 | 79,050 | 26,457 | ||
Net (decrease) increase in cash and cash equivalents | ||||||
-19,076 | 36,984 | -9,759 | 10,906 | -5,798 | ||
Supplemental disclosures: | ||||||
Interest paid | ||||||
5,326 | 3,725 | - | - | - | ||
Interest paid | ||||||
- | - | 2,777 | 2,162 | 2,339 | ||
Income taxes paid | ||||||
3,638 | 6,667 | 3,078 | 2,183 | 1,555 | ||
Held-to-maturity securities transferred to available-for-sale | ||||||
- | - | 44,240 | - | - | ||
Loan transferred to other real estate owned | ||||||
1,624 | - | - | - | - | ||
Loan transferred to other assets | ||||||
1,352 | - | - | - | - | ||
Transfer from assets held-for-sale to premises and equipment | ||||||
3,433 | - | - | - | - | ||
Assets held-for-sale transferred to premises and equipment | ||||||
- | 3,219 | - | - | - | ||