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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 5,528 $ 6,238
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 0 250
Depreciation 672 646
Amortization 2,673 1,949
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 226 214
Net gains on sales of securities 0 (1)
Net change in market value of equity securities 356 (608)
Gains on sales of loans (804) (2,146)
Loans originated for sale (29,531) (72,727)
Proceeds from loan sales 25,896 68,637
Earnings on bank-owned life insurance (280) (186)
Proceeds from BOLI policy 130 0
Earnings on death benefit from bank-owned life insurance (14) 0
(Gains)/losses on sales of other real estate owned (41) (4)
Proceeds from sales of other real estate owned 235 270
Deferred federal income tax (benefit)/expense 248 506
Net change in:    
Other assets 173 (3,952)
Other liabilities (2,665) 3,124
Net cash provided by operating activities 2,802 2,210
Cash flows from investing activities:    
Maturities, prepayments and calls of securities available for sale 13,157 12,918
Maturities, prepayments and calls of securities held to maturity 1,078 0
Purchases of securities available for sale (28,197) (179,221)
Purchases of securities held to maturity (3,160) 0
Proceeds from redemption of Federal Home Loan Bank stock 331 0
Loan originations and payments, net 31,816 63,084
Additions to premises and equipment (526) (1,038)
Net cash provided by (used in) investing activities 14,499 (104,257)
Cash flows from financing activities:    
Net change in deposits 93,307 165,386
Net change in short term borrowings (50,000) (5,843)
Issuance of common stock 35 29
Repurchase of common stock (682) 0
Cash dividends (1,872) (1,716)
Net cash provided by financing activities 40,788 157,856
Net change in cash and cash equivalents 58,089 55,809
Beginning cash and cash equivalents 31,887 79,519
Ending cash and cash equivalents 89,976 135,328
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,413 1,021
Cash paid for income taxes 0 0
Loans transferred to other real estate owned $ 172 $ 123