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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 7,970 $ 10,366
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for (reversal of) credit losses 1,105 (300)
Depreciation and other amortization 583 551
Accretion and amortization of securities discounts and premium, net 210 232
Loss on sale of real estate owned 380
Gain on sale of fixed assets (10)
Gain on sale of securities (15)
Net change in operating leases 108 121
Compensation expense related to stock options and restricted stock grants 492 396
Gain on sale of loans held for sale (899) (4,813)
Loans originated and held for sale (75,729) (173,380)
Proceeds from sale of loans held for sale 72,344 181,377
Increase in cash surrender value of bank owned life insurance (315) (267)
Decrease in deferred tax asset 1
Decrease (increase) in accrued interest receivable (3) 499
Decrease (increase) in other assets (444) (123)
Increase (decrease) in other liabilities 2,460 (4,461)
Net cash provided by operating activities 7,867 10,569
Increase (decrease) in cash realized from:    
Increase in loans, net (170,787) (41,165)
Purchase of property and equipment (5,869) (2,609)
Purchase of investment securities:    
Available for sale (10,094) (5,366)
Other investments (2,265)
Payments and maturities, calls and repayments of investment securities:    
Available for sale 16,046 5,458
Other investments 2,182 1,862
Purchase of bank owned life insurance (7,500)
Proceeds from sale of fixed assets 50
Proceeds from sale of other real estate owned 788
Net cash used for investing activities (170,787) (48,482)
Increase (decrease) in cash realized from:    
Increase in deposits, net 144,348 115,993
Decrease in Federal Home Loan Bank advances and other borrowings, net (25,000)
Proceeds from the exercise of stock options 579 1,578
Net cash provided by financing activities 144,927 92,571
Net increase (decrease) in cash and cash equivalents (17,993) 54,658
Cash and cash equivalents at beginning of the period 167,209 100,687
Cash and cash equivalents at end of the period 149,216 155,345
Cash paid for    
Interest 1,789 2,767
Income taxes
Schedule of non-cash transactions    
Unrealized loss on securities, net of income taxes $ (5,653) $ (1,113)