XML 19 R8.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 9,251 $ 8,938
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 750 825
Depreciation and amortization 267 182
Amortization and accretion on investment securities 294 569
Deferred income taxes 660 42
Equity securities gains, net (41) (13)
Earnings on bank owned life insurance (305) (306)
Originations of loans held for sale (7,628) (7,260)
Proceeds from sales of loans held for sale 8,077 6,849
Realized gains on loans sold (163) (132)
Increase in accrued interest receivable (160) (89)
Increase (decrease) in accrued interest payable (28) 6
Other, net (656) 23
Net cash provided by operating activities 10,318 9,634
Available-for-sale securities:    
Proceeds from maturity and principal repayments 30,767 31,351
Purchase of securities (23,907) (29,828)
Purchase of equity securities 0 (91)
Purchase of interest bearing time deposits with other banks 0 (4,721)
Proceeds from sale of interest bearing time deposits with other banks 0 1,239
Proceeds from redemption of regulatory stock 5,215 5,138
Purchase of regulatory stock (5,472) (5,574)
Net increase in loans (21,456) (39,375)
Purchase of premises and equipment (165) (140)
Proceeds from sale of premises and equipment 7 0
Proceeds from sale of foreclosed assets held for sale 452 736
Net cash used in investing activities (14,559) (41,265)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (decrease) increase in deposits (1,498) 13,649
Proceeds from long-term borrowings 5,000 4
Repayments of long-term borrowings (3,123) 0
Net increase in short-term borrowed funds 7,913 18,984
Purchase of treasury and restricted stock (1,236) (850)
Dividends paid (3,143) (3,060)
Net cash provided by financing activities 3,913 28,727
Net decrease in cash and cash equivalents (328) (2,904)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 16,797 18,517
CASH AND CASH EQUIVALENTS AT END OF PERIOD 16,469 15,613
Supplemental Disclosures of Cash Flow Information:    
Interest paid 6,295 4,234
Income taxes paid 1,850 1,200
Non-cash Transactions [Abstract]    
Loans transferred to foreclosed property 3,747 78
Right of use asset and liability 1,454 0
Stock dividend $ 2,102 $ 2,142