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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 22,042 $ 15,613 $ 7,171
Adjustments to reconcile net income to net cash from operating activities:      
Provision for loan losses 416 4,000 0
Depreciation 2,624 2,721 1,610
Amortization 9,801 4,985 1,517
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 812 512 373
Net (gains) losses on sales of securities 40 (1,308) (22)
Net change in market value of equity securities (479) 155 0
Gains on sales of loans (6,776) (11,313) (1,951)
Loans originated for sale (197,387) (326,286) (63,920)
Proceeds from loan sales 205,398 325,306 62,763
Earnings on bank-owned life insurance (778) (772) (485)
Proceeds from BOLI policy 204 0 605
Earnings on death benefit from bank-owned life insurance (31) 0 (288)
(Gains) on sales of other real estate owned (19) (64) (54)
Write downs of ORE 0 80 0
Proceeds from sales of other real estate owned 611 1,384 938
Costs capitalized to other real estate 0 (19) 0
Deferred federal income tax expense 924 202 310
Net change in:      
Other assets (5,418) (3,186) 2,128
Changes in other liabilities 5,715 (3,532) (1,493)
Net cash provided by operating activities 37,699 8,478 9,202
Cash flows from investing activities:      
Sales of securities available for sale 29,742 121,942 178,450
Sales of equity securities 0 0 463
Maturities, prepayments and calls of securities available for sale 54,202 48,787 47,816
Purchases of securities available for sale (637,943) (375,670) (209,763)
Purchase of bank-owned life insurance policies (10,000) 0 0
Purchase of Federal Reserve Bank stock 0 0 (1)
Loan originations and payments, net 45,384 (79,594) (485)
Additions to premises and equipment (2,759) (1,852) (766)
Net cash (used in)/provided by investing activities (521,374) (250,751) 36,352
Cash flows from financing activities:      
Net change in deposits 377,716 292,145 3,986
Net change in fed funds purchased 0 0 (8,600)
Proceeds from borrowings 87,500 10,050 115,000
Payments on borrowings (14,326) (33,921) (110,035)
Issuance of common stock 139 134 142
Repurchase of common stock (7,786) 0 (67)
Cash dividends and fractional shares from merger (7,200) (6,174) (5,815)
Cash related to equity issuance for merger 0 0 (297)
Net cash provided by/(used in) financing activities 436,043 262,234 (5,686)
Net change in cash and cash equivalents (47,632) 19,961 39,868
Beginning cash and cash equivalents 79,519 59,558 19,690
Beginning cash and cash equivalents 31,887 79,519 59,558
Supplemental disclosures of cash flow information:      
Cash paid for interest 3,718 4,872 4,500
Cash paid for income taxes 3,251 5,001 1,035
Loans transferred to other real estate owned 520 372 347
Community Shores Bank Corporation [Member]      
Cash flows from investing activities:      
Cash received from merger 0 35,636 0
County Bank Corp [Member]      
Cash flows from investing activities:      
Cash received from merger $ 0 $ 0 $ 20,638