XML 19 R9.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:              
Net income $ 2,217 $ 1,794 $ 2,881 $ 2,495 $ 4,011 $ 5,376  
Adjustments to reconcile net income to net cash used from operating activities:              
Depreciation         807 649  
Net premium amortization         1,105 1,071  
Provision for loan losses 1,250   9   2,325 114 $ 139
Loss on sale of other real estate owned         3  
Writedowns of other real estate owned         38  
Origination of loans held-for-sale         (85,207) (61,358)  
Sale of loans held-for-sale         62,866 55,851  
Amortization of intangibles 95   132   200 264  
Accretion on acquired loans         (179) (272)  
Gain on sale of securities   (164)   (135)  
Increase in other assets         (2,221) (7,485)  
Increase in other liabilities         4,385 1,656  
Net cash used from operating activities         (11,870) (4,266)  
Cash flows from investing activities:              
Purchase of investment securities available-for-sale         (22,077) (57,557)  
Purchase of other investment securities         (70) (37)  
Maturity/call of investment securities available-for-sale         21,948 14,805  
Proceeds from sale of securities available-for-sale         51,119  
Proceeds from sale of other securities         9  
(Increase) in loans         (83,576) (8,051)  
Proceeds from sale of other real estate owned         45  
Proceeds from sale of fixed assets         301  
Purchase of property and equipment         (527) (1,954)  
Net cash used in investing activities         (84,293) (1,329)  
Cash flows from financing activities:              
Increase in deposit accounts         130,672 11,894  
Increase in securities sold under agreements to repurchase         12,355 5,867  
Advances from the Federal Home Loan Bank         34,001 65,000  
Repayment of advances from Federal Home Loan Bank         (34,212) (65,010)  
Shares retired   (15)   (156) (15) (156)  
Repurchase of common stock         (3,413)  
Issuance of deferred compensation shares         200 265  
Dividends paid: Common Stock         (1,783) (1,681)  
Proceeds from issuance of Common Stock         4  
Dividend reinvestment plan         187 184  
Net cash provided from financing activities         141,409 12,950  
Net increase in cash and cash equivalents         45,246 7,355  
Cash and cash equivalents at beginning of period   $ 47,692   $ 32,268 47,692 32,268 32,268
Cash and cash equivalents at end of period $ 92,938   $ 39,263   92,938 39,263 $ 47,692
Cash paid during the period for:              
Interest         3,070 2,958  
Income taxes         1,160  
Non-cash investing and financing activities:              
Unrealized gain on securities         9,977 5,493  
Recognition of operating lease right of use asset         2,846  
Recognition of operating lease liability         2,849  
Transfer of investment securities held-to-maturity to available-for-sale         16,144  
Transfer of loans to foreclosed property         $ 78