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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net income $ 11,732 $ 10,259
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 1,461 1,341
Net amortization (accretion) of purchase accounting adjustments 37 (42)
Net amortization of securities 815 459
Net realized loss on sale of securities 1,066 0
Proceeds from sale of loans in secondary market 18,972 40,158
Loans disbursed for sale in secondary market (18,118) (38,904)
Amortization of mortgage servicing rights 103 126
Impairment (recovery) of mortgage servicing rights (11) 11
Gain on sale of loans (946) (1,391)
Amortization of intangible assets 48 62
Deferred tax (benefit) expense (130) 12
Provision for loan losses (419) 2,980
Earnings on bank owned life insurance and annuity assets (904) (820)
Loss on sale of other real estate owned (1) 35
Change in accrued interest receivable 624 (755)
Change in accrued liabilities (113) (632)
Change in other assets (1,079) (408)
Net cash provided by operating activities 13,137 12,491
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 47,666 0
Proceeds from maturities and paydowns of securities available for sale 41,301 36,154
Purchases of securities available for sale (157,686) (41,162)
Proceeds from calls and maturities of securities held to maturity 3,700 2,694
Purchases of securities held to maturity (4,001) (721)
Proceeds from maturities of certificates of deposit in financial institutions 935 980
Purchases of certificates of deposit in financial institutions (763) (1,120)
Redemptions of restricted investments in bank stocks 240 0
Net change in loans 17,181 (78,038)
Proceeds from sale of other real estate owned 49 548
Purchases of premises and equipment (1,085) (3,450)
Disposals of premises and equipment 486 13
Proceeds from bank owned life insurance 173 0
Purchases of bank owned life insurance and annuity assets (550) (4,583)
Net cash provided by (used in) investing activities (52,354) (88,685)
Cash flows from financing activities:    
Change in deposits 66,169 172,290
Cash dividends (4,018) (4,022)
Purchases of treasury stock (954) 0
Proceeds from Federal Home Loan Bank borrowings 600 0
Repayment of Federal Home Loan Bank borrowings (7,789) (5,093)
Change in other long-term borrowings 0 (405)
Change in other short-term borrowings (1,060) (629)
Net cash provided by financing activities 52,948 162,141
Cash and cash equivalents:    
Change in cash and cash equivalents 13,731 85,947
Cash and cash equivalents at beginning of year 138,303 52,356
Cash and cash equivalents at end of year 152,034 138,303
Supplemental disclosure:    
Cash paid for interest 4,360 6,681
Cash paid for income taxes 2,800 2,050
Transfers from loans to other real estate owned 15 92
Operating lease liability arising from obtaining right-of-use asset $ 570 $ 0