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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 15,465 $ 10,099 $ 10,971
Adjustments to reconcile net income to net cash (used) provided in operating activities      
Depreciation 1,714 1,637 1,598
Net premium amortization 2,317 2,016 2,042
Provision for loan losses 335 3,663 139
Write-downs of other real estate owned 50 128
Loss (gain) loss on sale of other real estate owned (77) (147) 3
Originations of HFS loans (139,773) (197,608) (139,640)
Sales of HFS loans 177,673 163,743 131,708
Amortization of intangibles 201 363 523
Gain on sale of securities [1] (99) [1] (136)
Loss on fair value of equity investments (4)
Accretion on acquired loans (135) (271) (492)
Write-down of premises held for sale 282
Gain on sale of other assets (117)
(Increase) decrease in other assets 994 (911) (5,227)
Increase (decrease) in other liabilities (715) 341 3,054
Net cash (used) provided in operating activities 57,928 (17,046) 4,825
Cash flows from investing activities:      
Proceeds from sale of securities available-for-sale 1,200 44,398
Purchase of investment securities available-for-sale (271,293) (111,972) (113,064)
Purchase of other investment securities (87) (70) (36)
Maturity/call of investment securities available-for-sale 53,872 46,933 40,170
Proceeds from sale of other investments 355
Increase in loans (19,100) (106,874) (18,219)
Proceeds from sale of other real estate owned 201 349 47
Proceeds from sale of fixed assets 1,414 301
Purchase of property and equipment (813) (1,087) (2,793)
Net disposal of property and equipment 19
Purchase of BOLI (850) (2)
Net cash used in investing activities (236,282) (171,521) (49,198)
Cash flows from financing activities:      
Increase in deposit accounts 171,878 201,213 62,716
Advances from the Federal Home Loan Bank 34,001 82,000
Repayment of advances from the Federal Home Loan Bank (34,212) (82,020)
Increase in securities sold under agreements to repurchase 13,302 7,618 5,274
Deferred compensation shares 90 200 265
Shares Retired (70) (15) (159)
Change in non-vested restricted stock 363 259 168
Dividend reinvestment plan 368 372 570
Repurchase of common stock (5,636)
Proceeds from issuance of common stock 46 4
Dividends paid on Common Stock (3,593) (3,573) (3,306)
Net cash provided in financing activities 182,384 205,867 59,872
Net increase in cash and cash equivalents 4,030 17,300 15,424
Cash and cash equivalents at beginning of year 64,992 47,692 32,268
Cash and cash equivalents at end of year 69,022 64,992 47,692
Supplemental disclosure:      
Cash paid during the period for: interest 3,312 4,258 5,471
Income Taxes 5,097 3,043 2,410
Non-cash investing and financing activities:      
Unrealized gain (loss) on securities available-for-sale, net of tax (8,008) 8,797 4,824
Transfer of loans to other real estate owned 145 114
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
[1] Not within the scope of ASC 606