XML 22 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net earnings $ 13,382 $ 10,268 $ 9,177
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation, amortization and accretion 4,571 5,018 5,423
Provision for (reduction of) loan losses 790 (507) (1,206)
Deferred income taxes 78 2,120 1,097
Gain on sale of investment securities (15) 0 (729)
Gain on sale of other real estate (17) 0 (81)
Write-down of other real estate 0 239 17
Gain on sale of premises and equipment (544) 0 0
Restricted stock expense 85 592 932
Proceeds from sales of loans held for sale 35,922 59,193 67,764
Origination of loans held for sale (35,745) (54,341) (69,324)
Change in:      
Cash surrender value of life insurance (384) (600) (406)
Other assets (3,695) (3,982) (636)
Other liabilities 2,759 594 211
Net cash provided by operating activities 17,187 18,594 12,239
Cash flows from investing activities:      
Purchases of investment securities available for sale (34,692) (10,014) (12,707)
Proceeds from sales, calls and maturities of investment securities available for sale 48,241 10,162 4,053
Proceeds from paydowns of investment securities available for sale 15,556 17,202 20,675
Purchases of other investments (2,611) (45) (255)
Proceeds from paydowns of other investment securities 117 0 0
Net change in FHLB stock (4) 850 1,256
Net change in loans (45,094) (36,748) (36,116)
Purchases of premises and equipment (1,742) (5,557) (1,610)
Proceeds from sale of premises and equipment 1,410 0 0
Proceeds from sale of other real estate and repossessions 232 44 1,083
Net cash used by investing activities (18,587) (24,106) (23,621)
Cash flows from financing activities:      
Net change in deposits (29,739) 14,034 60,743
Net change in securities sold under agreement to repurchase 20,338 1,323 8,560
Proceeds from FHLB borrowings 0 1 6,000
Repayments of FHLB borrowings 0 (20,001) (29,500)
Proceeds from FRB borrowings 1 1 1
Repayments of FRB borrowings (1) (1) (1)
Proceeds from Fed Funds Purchased 4,277 187 9,112
Repayments of Fed Funds Purchased (4,277) (187) (9,112)
Common stock repurchased 0 0 (1,984)
Cash dividends paid in lieu of fractional shares 0 (6) 0
Cash dividends paid on common stock (3,133) (2,629) (2,106)
Net cash (used) provided by financing activities (12,534) (7,278) 41,713
Net change in cash and cash equivalents (13,934) (12,790) 30,331
Cash and cash equivalents at beginning of period 57,304 70,094 39,763
Cash and cash equivalents at end of period 43,370 57,304 70,094
Cash paid during the year for:      
Interest 2,128 2,526 3,415
Income taxes 1,163 2,408 2,028
Noncash investing and financing activities:      
Change in unrealized gain (loss) on investment securities available for sale, net (2,607) (1) (2,523)
Transfer of loans to other real estate and repossessions 124 118 563
Issuance of accrued restricted stock units $ 0 $ (915) $ 0