XML 23 R9.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities      
Net income $ 16,077 $ 17,466 $ 16,151
Adjustment to reconcile net income to net cash provided by operating activities:      
Provision for (recovery of) loan losses 1,991 126 (81)
Deferred income tax expense (benefit) 282 529 (382)
Depreciation of premises and equipment 708 739 766
Amortization of intangibles     50
Amortization of premiums and accretion of discounts, net 1,455 212 58
Loss (gain) on disposal of fixed assets (2) 5  
Gain on calls and sales of securities available for sale, net (108) (566) (17)
Loss (gain) and write-down on other real estate owned (13) 5 489
Loss on sale of repossessed assets 1 4 8
Income on investment in BOLI (877) (910) (901)
Gain on sale of mortgage loans held for sale (676) (297) (199)
Origination of mortgage loans held for sale (39,647) (21,032) (12,626)
Sale of mortgage loans held for sale 40,362 20,496 13,013
Contribution to defined benefit plan (5,000)    
Net change in:      
Accrued interest receivable (743) 875 137
Other assets (132) (1,340) 2,899
Accrued interest payable (88) 55 27
Other liabilities 203 2,465 404
Net cash provided by operating activities 13,793 18,832 19,796
Cash Flows from Investing Activities      
Net change in interest-bearing deposits (43,844) (33,390) 7,742
Proceeds from repayments of mortgage-backed securities 18,068 1,089 224
Proceeds from calls, sales and maturities of securities available for sale 126,840 348,032 50,438
Proceeds from calls and maturities of securities held to maturity     6,430
Purchases of securities available for sale (241,164) (352,505) (25,323)
Net change in restricted stock (59)   (20)
Purchases of loan participations (11,404) (673) (7,853)
Collections of loan participations 207 4,262 970
Loan originations and principal collections, net (24,875) (28,388) (35,591)
Proceeds from disposal of other real estate owned 72 591 276
Proceeds from disposal of repossessed assets 30 53 34
Recoveries on loans charged off 347 267 235
Additions to premises and equipment (1,824) (1,032) (1,191)
Proceeds from sale of premises and equipment 2 16  
Net cash used in investing activities (177,604) (61,678) (3,629)
Cash Flows from Financing Activities      
Net change in time deposits (38,446) 26,229 (13,085)
Net change in other deposits 215,836 41,582 5,293
Cash dividends paid (9,000) (9,032) (8,419)
Shares repurchased (1,722) (18,525)  
Net cash provided by (used in) financing activities 166,668 40,254 (16,211)
Net change in cash and due from banks 2,857 (2,592) (44)
Cash and due from banks at beginning of year 10,290 12,882 12,926
Cash and due from banks at end of year 13,147 10,290 12,882
Supplemental Disclosures of Cash Flow Information      
Interest paid on deposits and borrowed funds 5,925 7,325 5,020
Income taxes paid 3,860 2,544 1,778
Supplemental Disclosures of Noncash Activities      
Loans charged against the allowance for loan losses 720 920 689
Loans transferred to other real estate owned   156  
Loans transferred to repossessed assets 4 71 55
Unrealized gain (loss) on securities available for sale 16,570 6,515 (2,858)
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, before Tax     1,128
Fair value of securities transferred from held to maturity to available for sale     119,790
Minimum pension liability adjustment (1,981) (1,986) $ (1,295)
Increase in operating lease right-of-use asset during the period 24 1,837  
Increase in operating lease liability during the period $ 24 $ 1,837