XML 17 R8.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 13,641 $ 15,110
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 700 1,150
Depreciation and amortization 519 566
Amortization and accretion of loans and other assets (1,068) (2,333)
Amortization and accretion of investment securities 1,025 1,091
Deferred income taxes 294 1,029
Investment and equity securities losses (gains), net 179 (266)
Earnings on bank owned life insurance (419) (1,478)
Vesting of restricted stock 141 0
Originations of loans held for sale (4,624) (25,914)
Proceeds from sales of loans held for sale 8,056 35,812
Realized gains on loans sold (146) (814)
Increase in accrued interest receivable (640) 434
Loss (gain) on sale of foreclosed assets held for sale (491) 0
Increase (decrease) in accrued interest payable (145) (228)
Other, net (1,950) (2,436)
Net cash provided by operating activities 15,072 21,723
Available-for-sale securities:    
Proceeds from sales 0 5,045
Proceeds from maturity and principal repayments 21,294 28,433
Purchase of securities (110,022) (111,036)
Purchase of interest bearing time deposits with other banks (2,480) 0
Proceeds from matured interest bearing time deposits with other banks 5,458 1,492
Proceeds from life insurance 0 3,714
Proceeds from redemption of regulatory stock 1,912 2,235
Purchase of regulatory stock (3,493) (2,025)
Net increase in loans (152,949) (7,758)
Purchase of premises and equipment (898) (858)
Investments in low income housing partnerships (949) 0
Proceeds from sale of foreclosed assets held for sale 760 524
Net cash used in investing activities (241,367) (80,234)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 42,560 93,529
Proceeds from long-term borrowings 0 9,869
Repayments of long-term borrowings (4,725) (2,000)
Net (decrease) increase in short-term borrowed funds 41,282 1,120
Purchase of treasury (1,279) (849)
Sale of treasury stock to employees 72 0
Dividends paid (3,776) (3,671)
Net cash (used) provided by financing activities 74,134 97,998
Net (decrease) increase in cash and cash equivalents (152,161) 39,487
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 172,833 68,707
CASH AND CASH EQUIVALENTS AT END OF PERIOD 20,672 108,194
Supplemental Disclosures of Cash Flow Information:    
Interest paid 3,376 3,945
Income taxes paid 3,600 3,500
Loans transferred to foreclosed property 61 517
Right of use asset and liability (1,518) 211
Stock Dividend $ 2,560 $ 2,352