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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 9,478 $ 5,281
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 680 735
Amortization of right-of-use lease asset 109 104
Amortization of deferred loan costs, net 626 39
Amortization of intangibles 125 154
Amortization of low income housing partnerships 120 120
(Credit) provision for loan losses (500) 3,500
Net unrealized (gain) loss on equity investment securities (21) 123
Net (gain) loss on sale of other real estate owned 10 (4)
Loans originated for sale (4,869) (2,297)
Proceeds from sale of loans originated for sale 5,382 3,023
Net gain on sale of loans originated for sale (134) (10)
Net amortization of investment securities 260 281
Net gain on sale of investment securities available-for-sale   (267)
Increase in cash surrender value of life insurance (219) (187)
Deferred income tax expense 620 619
Stock based compensation 89 5
Net change in:    
Accrued interest receivable 49 (302)
Other assets (918) (10,038)
Accrued interest payable 384 59
Other liabilities 383 10,014
Net cash provided by operating activities 11,654 10,952
Cash flows from investing activities:    
Proceeds from sales of investment securities available-for-sale   26,502
Proceeds from repayments of investment securities:    
Available-for-sale 12,876 17,522
Held-to-maturity 58 135
Purchases of investment securities:    
Available-for-sale (58,726) (9,080)
Net purchase of restricted equity securities (64) (482)
Net increase in lending activities (2,296) (86,062)
Purchases of premises and equipment (521) (627)
Proceeds from sale of other real estate owned 549 157
Net cash used in investing activities (48,124) (51,935)
Cash flows from financing activities:    
Net increase in deposits 113,303 38,506
Repayment of long-term debt (505) (483)
Net increase in short-term borrowings 1,980 12,000
Retirement of common stock (517) (2,204)
Cash dividends paid (2,665) (2,662)
Net cash provided by financing activities 111,596 45,157
Net increase in cash and cash equivalents 75,126 4,174
Cash and cash equivalents at beginning of period 228,192 31,153
Cash and cash equivalents at end of period 303,318 35,327
Cash paid during the period for:    
Interest 2,325 4,222
Noncash items:    
Transfers of loans to other real estate $ 57 626
Initial recognition of right-of-use assets   899
Initial recognition of lease liability   $ 899