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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 9,338 $ 11,902
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan losses (186) (446)
Provision (credit) for off-balance sheet commitments 124 (3)
Amortization of securities available-for-sale, loans and deposits, net 1,268 1,167
Amortization of intangible assets 293 320
Depreciation 682 688
Deferred income taxes 841 151
Securities (gains), net (35) 0
Increase in cash value of bank-owned life insurance (34) (35)
(Gain) on sales of loans held for sale (364) (884)
Proceeds from loans held for sale 16,064 39,161
Originations of loans held for sale (16,173) (36,967)
Loss on sale and disposal of premises and equipment, net 0 13
Amortization of investment in New Markets Tax Credit projects 378 319
Impairment of other real estate owned 0 81
Change in assets and liabilities:    
Decrease in accrued income receivable 646 1,547
(Increase) decrease in other assets (817) 401
(Decrease) in accrued expenses and other liabilities (765) (18)
Net cash provided by operating activities 11,260 17,397
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease in interest-bearing time deposits 2,245 2,253
Purchase of securities available-for-sale (126,777) (217,484)
Proceeds from sale of securities available-for-sale 535 0
Proceeds from maturities and calls of securities available-for-sale 57,638 63,971
Purchase of FHLB stock (187) (286)
Proceeds from the redemption of FHLB and FRB stock 408 7
Net decrease in loans 4,049 5,262
Purchase of bank premises and equipment (1,439) (578)
Net cash (used in) investing activities (63,528) (146,855)
CASH FLOWS FROM FINANCING ACTIVITIES    
Increase in deposits 48,121 115,038
Decrease in securities sold under agreements to repurchase (4,185) (4,025)
Payments on FHLB borrowings (3,000) 0
Proceeds from other borrowings 4,000 0
Dividends paid (4,819) (4,653)
Stock repurchases (2,300) 0
Net cash provided by financing activities 37,817 106,360
Net decrease in cash and cash equivalents (14,451) (23,098)
CASH AND CASH EQUIVALENTS    
Beginning 89,129 173,097
Ending 74,678 149,999
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 2,233 2,873
Income taxes 2,518 2,823
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES    
Transfer of loans receivable to other real estate owned $ 0 $ 560