XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.1
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 $ 9,705 $ 8,922
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 488 518
Change in deferred taxes 246 670
Provision for loan losses 450 525
Loans originated for resale (10,295) (36,199)
Proceeds from sales and transfers of loans 10,950 39,721
Net gain on sales of loans (220) (1,189)
Net gain on sale or call of securities (2) (119)
Net amortization of premiums on investments 245 662
Net gain on sale of other real estate owned 0 (98)
Equity compensation expense 217 288
Net (increase) decrease in other assets and accrued interest (9,703) 10,917
Net increase (decrease) in other liabilities 5,658 (5,669)
Net loss on disposal of premises and equipment 0 1
Amortization of investment in limited partnership 76 77
Net acquisition amortization 17 17
     Net cash provided by operating activities 7,832 19,044
Cash flows from investing activities    
(Increase) decrease in interest-bearing deposits in other banks 48,251 (48,451)
Proceeds from sales of securities available for sale 0 1,214
Proceeds from maturities, payments and calls of securities available for sale 14,953 34,687
Proceeds from maturities, payments, calls and sales of securities to be held to maturity 8,363 39,195
Proceeds from sales of other real estate owned 0 605
Purchases of securities available for sale (30,762) (23,544)
Purchases of securities to be held to maturity (15,597) (59,047)
Redemption of restricted equity securities 0 440
Purchase of restricted equity securities (37) 0
Net increase in loans (59,904) (40,195)
Capital expenditures (703) (3,257)
     Net cash used by investing activities (35,436) (98,353)
Cash flows from financing activities    
Net increase (decrease) in demand, savings, and money market accounts (8,500) 80,201
Net increase in certificates of deposit 43,742 28,745
Net decrease in short-term borrowings (2,628) (32,388)
Repayment on long-term borrowings (2) (2)
Payment to repurchase common stock (270) (218)
Proceeds from sale of common stock 199 182
Dividends paid (3,520) (3,394)
Net cash provided by financing activities 29,021 73,126
Net increase (decrease) in cash and cash equivalents 1,417 (6,183)
Cash and cash equivalents at beginning of period 20,634 26,212
     Cash and cash equivalents at end of period 22,051 20,029
Interest paid 1,901 3,447
Non-cash transactions    
Right of use lease asset 319 0
Operating lease liability (319) 0
Change in net unrealized gain on available for sale securities, net of tax $ 18,343 $ 4,790