XML 19 R9.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:              
Net income $ 2,652 $ 1,794 $ 2,898 $ 2,495 $ 6,663 $ 8,274  
Adjustments to reconcile net income to net cash used from operating activities:              
Depreciation         1,218 1,000  
Net premium amortization         1,694 1,658  
Provision for loan losses 1,062   25   3,387 139 $ 139
(Gain) Loss on sale of other real estate owned         (147) 3  
Write-downs of other real estate owned         78  
Origination of loans held-for-sale         (140,972) (97,878)  
Sale of loans held-for-sale         114,540 90,326  
Amortization of intangibles 95   133   295 397  
Accretion on acquired loans         (230) (402)  
Gain on sale of securities (99)     (99) (135)  
Loss on fair value of equity securities         2  
Decrease in other assets         (1,704) (3,089)  
(Decrease) Increase in other liabilities         (510) 2,522  
Net cash used from operating activities         (15,785) 2,815  
Cash flows from investing activities:              
Purchase of investment securities available-for-sale         (34,059) (81,977)  
Purchase of other investment securities         (70) (37)  
Maturity/call of investment securities available-for-sale         34,429 32,199  
Proceeds from sale of securities available-for-sale         2,200 44,398  
Proceeds from sale of other securities          
Increase in loans         (107,163) (16,322)  
Proceeds from sale of other real estate owned         227 45  
Proceeds from sale of fixed assets         301  
Purchase of property and equipment         (737) (2,391)  
Net cash used in investing activities         (105,173) (23,784)  
Cash flows from financing activities:              
Increase in deposit accounts         185,350 23,338  
Increase in securities sold under agreements to repurchase         13,846 6,299  
Advances from the Federal Home Loan Bank         34,001 65,000  
Repayment of advances from Federal Home Loan Bank         (34,212) (65,015)  
Shares retired   (15)   (156) (15) (156)  
Repurchase of common stock         (5,638)  
Issuance of deferred compensation shares         200 265  
Dividends paid: Common Stock         (2,678) (2,512)  
Proceeds from issuance of Common Stock         4  
Dividend reinvestment plan         280 355  
Net cash provided from financing activities         196,776 21,936  
Net increase in cash and cash equivalents         75,818 967  
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 $ 123,510   $ 33,235   123,510 33,235 $ 47,692
Cash paid during the period for:              
Interest         3,429 4,301  
Income taxes         2,688 2,060  
Non-cash investing and financing activities:              
Unrealized gain on securities         10,640 7,053  
Recognition of operating lease right of use asset         3,260  
Recognition of operating lease liability         3,291  
Transfer of investment securities held-to-maturity to available-for-sale         16,144  
Transfer of loans to foreclosed property         $ 78