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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net earnings $ 4,928 $ 7,480
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation, amortization and accretion 2,017 1,926
Provision for loan losses 2,938 255
Deferred income taxes (16) (4)
Gain on sale of investment securities (457) (231)
Write-down of other real estate 0 17
Restricted stock expense (75) 170
Proceeds from sales of mortgage loans held for sale 43,832 18,572
Origination of mortgage loans held for sale (50,009) (20,201)
Change in:    
Cash surrender value of life insurance (188) (190)
Right of use lease asset 255 392
Other assets (212) 1,202
Lease liability (244) (400)
Other liabilities 3,214 (3,596)
Net cash provided by operating activities 5,983 5,392
Cash flows from investing activities:    
Purchases of investment securities available for sale (37,340) (21,405)
Proceeds from sales, calls and maturities of investment securities available for sale 20,592 23,707
Proceeds from paydowns of investment securities available for sale 9,305 6,354
Proceeds from paydowns on other investments 88 66
Purchases of FHLB stock (3,031) (1)
Net change in loans (116,854) (29,503)
Purchases of premises and equipment (1,085) (1,827)
Net cash used by investing activities (128,325) (22,609)
Cash flows from financing activities:    
Net change in deposits 187,812 27,014
Net change in securities sold under agreement to repurchase 7,526 (10,362)
Proceeds from FHLB borrowings 70,000 89,000
Repayments of FHLB borrowings 0 (89,000)
Repayments of Junior Subordinated Debt (155) 0
Proceeds from Fed Funds purchased (6,935) 74,450
Repayments of Fed Funds purchased 6,935 (74,450)
Restricted stock units exercised 57 207
Common stock repurchased (2,999) (1,913)
Cash dividends paid on common stock (2,647) (2,277)
Net cash provided by financing activities 259,594 12,669
Net change in cash and cash equivalents 137,252 (4,548)
Cash and cash equivalents at beginning of period 52,387 43,370
Cash and cash equivalents at end of period 189,639 38,822
Cash paid during the period for:    
Interest 1,909 1,529
Income taxes 796 1,616
Noncash investing and financing activities:    
Change in unrealized gain on investment securities available for sale, net 3,584 2,813
Issuance of accrued restricted stock units 57 207
Transfers of loans to other real estate and repossessions 0 0
Initial recognition of lease right-of-use asset and lease liability recorded upon adoption of ASU 2016-02 $ 132 $ 4,401