XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 9,630 $ 9,478
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 663 680
Amortization of right-of-use lease asset 146 109
Accretion of deferred loan fees, net 949 626
Amortization of intangibles 96 125
Amortization of low income housing partnerships 121 120
Provision (credit) for loan losses 300 (500)
Net unrealized (gain) loss on equity investment securities (4) (21)
Net (gain) loss on sale of other real estate owned (458) 10
Loans originated for sale (3,798) (4,869)
Proceeds from sale of loans originated for sale 4,069 5,382
Net gain on sale of loans originated for sale (24) (134)
Net amortization of investment securities 431 260
Gain on sale of premises and equipment (5)  
Increase in cash surrender value of life insurance (218) (219)
Deferred income tax expense 4 620
Stock based compensation (28) 89
Net change in:    
Accrued interest receivable (693) 49
Other assets (3,869) (918)
Accrued interest payable 436 384
Other liabilities 1,388 383
Net cash provided by operating activities 9,136 11,654
Proceeds from repayments of investment securities:    
Available-for-sale 12,897 12,876
Held-to-maturity 1,207 58
Purchases of investment securities:    
Available-for-sale (64,051) (58,726)
Held-to-maturity (25,873)  
Net redemption (purchase) of restricted equity securities 1,352 (64)
Net increase in loans (69,733) (2,296)
Purchases of premises and equipment (1,284) (521)
Proceeds from the sale of premises and equipment 5  
Investment in bank owned life insurance (1,081)  
Proceeds from bank owned life insurance 225  
Proceeds from sale of other real estate owned 946 549
Net cash used in investing activities (145,390) (48,124)
Cash flows from financing activities:    
Net increase in deposits 1,467 113,303
Repayment of long-term debt (529) (505)
Net (decrease) increase in short-term borrowings   1,980
Retirement of common stock (318) (517)
Cash dividends paid (2,796) (2,665)
Net cash (used in) provided by financing activities (2,176) 111,596
Net (decrease) increase in cash and cash equivalents (138,430) 75,126
Cash and cash equivalents at beginning of period 279,933 228,192
Cash and cash equivalents at end of period 141,503 303,318
Cash paid during the period for:    
Interest 1,504 2,325
Income taxes $ 35  
Noncash items:    
Transfers of loans to other real estate   $ 57