| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net income | |||||||||
9,565 | 5,242 | 11,310 | 4,348 | 4,411 | -855 | 1,118 | 2,417 | 3,003 | 435 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Provision for loan losses | |||||||||
3,143 | 661 | 2,190 | 2,509 | 1,539 | 1,319 | 2,896 | 1,558 | 902 | 2,830 |
Employee stock ownership plan expense | |||||||||
690 | 727 | 668 | 582 | 552 | 559 | 543 | 467 | 202 | 155 |
Equity incentive plan expense | |||||||||
205 | 381 | 882 | 860 | 746 | 757 | 189 | 100 | 257 | 742 |
Excess tax benefit from share-based compensation | |||||||||
0 | 0 | 28 | 15 | 4 | 9 | 4 | 3 | 0 | -43 |
Amortization of investment premiums and discounts, net | |||||||||
-1,124 | -1,085 | -858 | -996 | -1,059 | -1,259 | -1,168 | -650 | -394 | 101 |
Amortization of loan premiums and discounts, net | |||||||||
637 | 1,085 | 1,601 | 1,821 | 1,419 | 1,473 | 1,423 | 1,458 | 674 | 282 |
Depreciation and amortization of premises and equipment | |||||||||
2,252 | 2,230 | 2,374 | 2,678 | 2,596 | 1,992 | 1,852 | 1,947 | 2,000 | 1,926 |
Amortization of core deposit intangible | |||||||||
602 | 601 | 602 | 601 | 613 | 220 | 11 | 21 | 32 | 42 |
Net gain on sales of securities | |||||||||
0 | 0 | 55 | - | - | - | - | - | - | - |
Amortization of deferred debt issue costs | |||||||||
- | - | - | 18 | 90 | 262 | 211 | 203 | - | - |
Net gain on sales of securities | |||||||||
- | - | - | 146 | 64 | -1,155 | 273 | 486 | 878 | 285 |
Other-than-temporary impairment losses on securities | |||||||||
- | - | - | - | - | 8 | 123 | 148 | 492 | 228 |
Net gain on fair value of derivatives | |||||||||
0 | 0 | 62 | 50 | 60 | 205 | - | - | - | - |
Net (gain) loss on trading securities and derivatives | |||||||||
- | - | - | - | - | - | -358 | 195 | -429 | 0 |
Deferred income tax benefit | |||||||||
-321 | 3,513 | -444 | -766 | 1,183 | -1,073 | -1,100 | 891 | -355 | 275 |
Loans originated for sale | |||||||||
61,990 | 53,541 | 37,816 | 29,228 | 16,255 | 46,239 | 53,552 | 47,134 | 55,634 | 56,732 |
Proceeds from sale of loans held for sale | |||||||||
61,057 | 54,936 | 38,803 | 28,435 | 17,380 | 49,985 | 55,260 | 49,098 | 49,107 | 56,913 |
Net gain on sales of loans held for sale | |||||||||
421 | 1,192 | 916 | 472 | 274 | 835 | 1,646 | 611 | 887 | 577 |
Net gain on sale of investment in affiliate | |||||||||
0 | 0 | 5,263 | 0 | 0 | - | - | - | - | - |
Net gain on disposal of equipment | |||||||||
-6 | -4 | -92 | -47 | 0 | - | -5 | -41 | -5 | 99 |
Net loss on disposal of SI Trust Servicing operations | |||||||||
- | - | - | - | - | - | -698 | 0 | 0 | - |
Net gain on sale of loans held for investment | |||||||||
- | - | - | - | - | 201 | 0 | 275 | 0 | 0 |
Net loss on sales or write-downs of other real estate owned | |||||||||
-82 | -269 | -66 | -267 | -104 | -43 | -60 | -236 | -534 | 16 |
Increase in cash surrender value of bank-owned life insurance | |||||||||
907 | 613 | 570 | 618 | 580 | 400 | 284 | 289 | 290 | 294 |
Impairment charge on long-lived assets | |||||||||
- | - | - | - | - | - | 392 | 0 | 0 | - |
Gain on bank-owned life insurance proceeds | |||||||||
- | - | - | - | - | - | 349 | 122 | 0 | 291 |
Change in operating assets and liabilities: | |||||||||
Accrued interest receivable | |||||||||
137 | 349 | 152 | 430 | -168 | -42 | -324 | 443 | -228 | -380 |
Other assets | |||||||||
-1,855 | 2,506 | -130 | -907 | -2,016 | 609 | -1,585 | -1,580 | -292 | 4,480 |
Accrued expenses and other liabilities | |||||||||
3,215 | -3,419 | 2,037 | 1,402 | 1,121 | 1,509 | 1,232 | 62 | 2,129 | 52 |
Net cash provided by operating activities | |||||||||
20,657 | 9,114 | 16,307 | 13,746 | 17,760 | 10,157 | 12,240 | 11,319 | 2,607 | 1,428 |
Cash flows from investing activities: | |||||||||
Purchases of available for sale securities | |||||||||
34,931 | 32,008 | 29,493 | 45,360 | 36,216 | 54,671 | 41,721 | 139,919 | 91,716 | 95,071 |
Proceeds from sales of available for sale securities | |||||||||
0 | 0 | 9,014 | 9,703 | 1,109 | 26,115 | 44,033 | 36,883 | 40,144 | 24,483 |
Proceeds from maturities of and principal repayments on available for sale securities | |||||||||
43,146 | 35,453 | 34,697 | 32,126 | 32,566 | 45,275 | 54,452 | 53,366 | 55,515 | 54,782 |
Purchases of Federal Home Loan Bank stock | |||||||||
0 | 69 | 1 | 2,541 | 0 | 0 | - | - | - | - |
Purchases of Federal Reserve Bank stock | |||||||||
2 | 12 | 3 | 3,621 | 0 | 0 | - | - | - | - |
Redemption of Federal Home Loan Bank stock | |||||||||
821 | 2,375 | 713 | 0 | 2,776 | 325 | 0 | 0 | - | - |
Loan principal originations, net of principal collections | |||||||||
23,442 | -16,632 | 22,169 | 12,114 | -59,185 | -13,585 | 22,875 | -23,016 | -52,031 | -41,803 |
Purchases of loans | |||||||||
55,951 | 36,123 | 37,702 | 113,192 | 59,900 | 22,950 | 49,768 | 46,999 | 53,953 | 40,876 |
Proceeds from sales of loans held for investment | |||||||||
- | - | - | - | - | 3,189 | 0 | 7,966 | 0 | 0 |
Proceeds from sales of other real estate owned | |||||||||
646 | 865 | 685 | 384 | 1,357 | 1,314 | 1,361 | 954 | 3,685 | 1,865 |
Purchases of premises and equipment | |||||||||
2,401 | 1,755 | 1,162 | 2,202 | 3,217 | 2,140 | 1,472 | 2,516 | 1,133 | 3,518 |
Proceeds from bank-owned life insurance | |||||||||
0 | 0 | 1,201 | 0 | 0 | - | 585 | 603 | 0 | 565 |
Proceeds from bank-owned life insurance | |||||||||
0 | 11,820 | 0 | 0 | - | - | - | - | - | - |
Proceeds from sale of investment in affiliate | |||||||||
0 | 0 | 5,581 | 0 | 0 | - | - | - | - | - |
Net cash paid for Newport acquisition | |||||||||
- | - | - | - | - | 8,935 | 0 | 0 | - | 619 |
Net cash provided by (used in) investing activities | |||||||||
-72,114 | -26,462 | -38,639 | -136,817 | -2,340 | 1,107 | -15,405 | -66,646 | 4,573 | -16,586 |
Cash flows from financing activities: | |||||||||
Net increase in deposits | |||||||||
79,984 | 77,362 | 72,668 | 47,304 | 25,964 | -8,836 | 3,222 | 41,212 | 1,927 | 39,804 |
Net decrease in mortgagors' and investors' escrow accounts | |||||||||
283 | 30 | 880 | -92 | 386 | 7 | -84 | -134 | -166 | -34 |
Proceeds from Federal Home Loan Bank advances | |||||||||
25,087 | 23,500 | 51,500 | 147,728 | 29,000 | 63,000 | 7,000 | 23,000 | 23,355 | 37,300 |
Repayments of Federal Home Loan Bank advances | |||||||||
43,345 | 71,165 | 68,336 | 61,428 | 57,085 | 59,509 | 9,000 | 37,100 | 25,286 | 60,800 |
Repayments of other borrowings, net of amortization of discount | |||||||||
- | - | - | - | - | 15,072 | 0 | 0 | - | - |
Net proceeds from common stock offering | |||||||||
- | - | - | - | - | - | - | 2,774 | 47,556 | 0 |
Excess tax benefit from share-based compensation | |||||||||
0 | 0 | 28 | 15 | 4 | 9 | 4 | 3 | 0 | -43 |
Purchase of shares by ESOP pursuant to reorganization | |||||||||
- | - | - | - | - | - | - | 3,141 | 0 | 0 |
Purchase of shares for equity plan | |||||||||
- | - | - | - | - | - | 2,238 | 0 | 0 | - |
Stock options exercised | |||||||||
1,733 | 501 | 67 | 715 | 367 | 94 | 10 | 0 | 0 | - |
Cash dividends on common stock | |||||||||
2,838 | 2,372 | 1,889 | 1,914 | 1,475 | 1,227 | 1,171 | 1,191 | 375 | 0 |
Common shares repurchased | |||||||||
5,004 | 208 | 178 | 7,730 | 651 | 98 | 5,301 | 5 | 74 | 68 |
Net cash provided by financing activities | |||||||||
55,900 | 27,648 | 54,740 | 124,598 | -3,490 | -21,632 | -7,558 | 25,418 | 46,937 | 16,159 |
Net change in cash and cash equivalents | |||||||||
4,443 | 10,300 | 32,408 | 1,527 | 11,930 | -10,368 | -10,723 | -29,909 | 54,117 | 1,001 |
Supplemental cash flow information: | |||||||||
Interest paid | |||||||||
13,070 | 11,107 | 10,080 | 8,873 | 8,306 | 8,335 | 9,682 | 11,440 | 13,857 | 19,050 |
Income taxes paid, net | |||||||||
3,444 | 7,067 | 3,020 | 1,846 | -67 | 1,562 | -321 | 790 | 714 | 731 |
Transfer of stock offering escrow for issuance of common shares | |||||||||
- | - | - | - | - | - | - | 47,556 | 0 | 0 |
Transfer of loans to other real estate owned | |||||||||
222 | 894 | 1,129 | 468 | 303 | 2,393 | 1,787 | 881 | 1,824 | 5,529 |
Stock options exercised by net-share settlement | |||||||||
1,660 | 163 | 0 | 2,563 | 190 | 0 | - | - | - | - |
Fair value of non-cash tangible assets acquired | |||||||||
- | - | - | - | - | 408,392 | 0 | 0 | - | - |
Goodwill and core deposit intangibles | |||||||||
- | - | - | - | - | 16,079 | 0 | 0 | - | - |
Fair value of liabilities assumed | |||||||||
- | - | - | - | - | 385,431 | 0 | 0 | - | - |
Value of common shares issued | |||||||||
- | - | - | - | - | 30,105 | 0 | 0 | - | - |