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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 18,616 $ 13,654
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan losses (540) 4,424
Provision (credit) for off-balance sheet commitments (2) 51
Amortization of securities, available-for-sale, loans and deposits, net 1,909 559
Amortization of intangible assets 479 650
Depreciation 1,032 1,084
Deferred income taxes 131 (942)
Securities (gains), net (24) (430)
(Gain) on sales of loans held for sale (1,313) (1,486)
Proceeds from loans held for sale 55,004 67,935
Originations of loans held for sale (52,448) (66,469)
Loss on sale and disposal of premises and equipment, net 13 59
Amortization of investment in New Markets Tax Credit projects 479 436
Impairment of other real estate owned 83 0
(Gain) loss on sale of other real estate owned, net 1 (22)
Change in assets and liabilities:    
(Increase) in accrued income receivable (35) (385)
Decrease in other assets 377 441
Increase (decrease) in accrued expenses and other liabilities (24) 1,763
Net cash provided by operating activities 23,738 21,322
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of securities available-for-sale (282,379) (165,076)
Proceeds from sale of securities available-for-sale 622 5,463
Proceeds from maturities and calls of securities available-for-sale 100,573 104,636
Purchase of FHLB stock (286) (1,148)
Proceeds from the redemption of FHLB stock 10 1,133
Net (increase) decrease in interest-bearing deposits in financial institutions and federal funds sold 43,918 (10,695)
Net (increase) decrease in loans 3,822 (114,713)
Net proceeds from the sale of other real estate owned 7 3,415
Purchase of bank premises and equipment (927) (852)
Cash paid for bank acquired 0 (310)
Other (52) (55)
Net cash (used in) investing activities (134,692) (178,202)
CASH FLOWS FROM FINANCING ACTIVITIES    
Increase in deposits 120,353 167,337
(Decrease) in securities sold under agreements to repurchase (1,016) (11,541)
Payments on FHLB borrowings 0 (2,000)
Dividends paid (7,024) (6,791)
Stock repurchases (571) (1,992)
Net cash provided by financing activities 111,742 145,013
Net increase (decrease) in cash and due from banks 788 (11,867)
CASH AND DUE FROM BANKS    
Beginning 24,819 34,617
Ending 25,607 22,750
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 3,987 7,134
Income taxes 4,327 3,987
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES    
Transfer of loans receivable to other real estate owned $ 560 $ 11