CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
12 Months Ended |
Mar. 31, 2019 |
Mar. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2017 |
| Cash flows from operating activities: |
|
|
|
|
|
| Net income |
|
$ 2,218
|
$ 2,022
|
$ 9,325
|
$ 7,915
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
| Amortization of securities premiums, net of accretion |
|
49
|
67
|
274
|
740
|
| ESOP expense |
|
136
|
150
|
613
|
511
|
| Gain on sale of securities, net |
|
(113)
|
|
|
(5,912)
|
| Change in deferred loan fees, net |
|
285
|
(27)
|
378
|
418
|
| Provision for loan losses |
|
1,462
|
656
|
3,329
|
2,929
|
| Depreciation and amortization |
|
404
|
185
|
721
|
811
|
| Loss on disposal of premises and equipment |
|
|
|
6
|
2
|
| (Increase) decrease in accrued interest receivable |
|
(533)
|
75
|
(293)
|
(25)
|
| Deferred tax (benefit) expense |
|
(185)
|
|
(1,241)
|
1,309
|
| Share-based compensation expense |
|
265
|
240
|
928
|
926
|
| Increase in cash surrender value of life insurance |
|
(177)
|
(171)
|
(686)
|
(645)
|
| Principal repayments of operating lease obligations |
|
(18)
|
|
|
|
| (Increase) decrease in other assets |
|
(175)
|
611
|
613
|
(539)
|
| (Decrease) increase in other liabilities |
|
(1,166)
|
(664)
|
2,787
|
1,036
|
| Net cash provided by operating activities |
|
2,452
|
3,144
|
16,754
|
9,476
|
| Cash flows from investing activities: |
|
|
|
|
|
| Purchases of available-for-sale securities |
|
(13,729)
|
|
|
(13,121)
|
| Proceeds from sales of available-for-sale securities |
|
13,565
|
|
|
57,259
|
| Proceeds from pay downs, maturities and calls of available-for-sale securities |
|
2,071
|
2,359
|
8,632
|
14,026
|
| (Purchase) redemption of Federal Home Loan Bank Stock |
|
(865)
|
(312)
|
(796)
|
933
|
| Loan originations and purchases, net of paydowns |
|
(25,488)
|
(18,373)
|
(100,073)
|
(121,060)
|
| Additions to premises and equipment |
|
(1,950)
|
(58)
|
(2,399)
|
(3,426)
|
| Additions to assets held-for-sale |
|
|
(147)
|
(147)
|
(67)
|
| Additions to other real estate owned |
|
(44)
|
|
(52)
|
|
| Purchase of bank owned life insurance |
|
|
|
|
(5,500)
|
| Net cash used in investing activities |
|
(26,440)
|
(16,531)
|
(94,835)
|
(70,956)
|
| Cash flows from financing activities: |
|
|
|
|
|
| Net (decrease) increase in demand deposits, NOW and savings accounts |
|
(15,544)
|
(22,826)
|
22,841
|
110,748
|
| Net increase (decrease) in time deposits |
|
22,725
|
(7,526)
|
(4,802)
|
11,327
|
| Proceeds from advances from the Federal Home Loan Bank |
|
|
|
10,000
|
7,000
|
| Net change in short-term borrowings |
|
11,920
|
18,370
|
31,181
|
(30,017)
|
| Purchase of treasury stock |
|
|
|
(215)
|
(594)
|
| Net cash provided by (used in) financing activities |
|
19,101
|
(11,982)
|
59,005
|
98,464
|
| Net (decrease) increase in cash and cash equivalents |
|
(4,887)
|
(25,369)
|
(19,076)
|
36,984
|
| Cash and cash equivalents at beginning of year |
|
28,613
|
47,689
|
47,689
|
10,705
|
| Cash and cash equivalents at end of year |
|
23,726
|
22,320
|
28,613
|
47,689
|
| Supplemental disclosures: |
|
|
|
|
|
| Interest paid |
|
1,995
|
1,098
|
5,326
|
3,725
|
| Income taxes paid |
|
290
|
|
3,638
|
6,667
|
| Recognition of right-of-use assets in premises and equipment |
[1] |
3,836
|
|
|
|
| Recognition of operating lease liabilities |
[1] |
3,938
|
|
|
|
| Reclassification of accrued rent from other liabilities to premises and equipment |
[1] |
$ 102
|
|
|
|
| Loan transferred to other real estate owned |
|
|
|
1,624
|
|
| Loan transferred to other assets |
|
|
|
1,352
|
|
| Transfer from premises and equipment to assets held-for-sale |
|
|
|
$ 3,433
|
|
| Assets held-for-sale transferred to premises and equipment |
|
|
$ 3,433
|
|
$ 3,219
|
|
|