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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net earnings $ 11,357 $ 14,067 $ 13,382
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation, amortization and accretion 4,183 3,964 4,571
Provision for loan losses 4,259 863 790
Deferred income taxes (560) 164 78
Gain on sale of investment securities (2,639) (226) (15)
Gain on sale of other real estate 0 (6) (17)
Write-down of other real estate 47 17 0
(Gain) loss on sale of premises and equipment 0 239 (544)
Restricted stock expense 27 270 85
Proceeds from sales of loans held for sale 112,426 56,364 35,922
Origination of loans held for sale (117,148) (60,101) (35,745)
Change in:      
Cash surrender value of life insurance (380) (383) (384)
Right of use lease asset 199 787 0
Other assets (382) 952 (3,695)
Lease liability (176) (762) 0
Other liabilities (2,051) (3,012) 2,759
Net cash provided by operating activities 9,162 13,197 17,187
Cash flows from investing activities:      
Purchases of investment securities available for sale (127,893) (54,212) (34,692)
Proceeds from sales, calls and maturities of investment securities available for sale 62,408 40,561 48,241
Proceeds from paydowns of investment securities available for sale 19,169 14,489 15,556
Purchases of other investments (45) (45) (2,611)
Proceeds from paydowns of other investment securities 176 176 117
Net change in FHLB stock (55) (1) (4)
Net change in loans (99,971) (46,505) (45,094)
Purchases of premises and equipment (2,492) (2,835) (1,742)
Purchases of bank owned life insurance (269) 0 0
Proceeds from sale of premises and equipment 0 149 1,410
Proceeds from sale of other real estate and repossessions 0 42 232
Net cash used by investing activities (148,972) (48,181) (18,587)
Cash flows from financing activities:      
Net change in deposits 254,569 89,304 (29,739)
Net change in securities sold under agreement to repurchase 1,980 (33,874) 20,338
Proceeds from FHLB borrowings 70,000 184,500 0
Repayments of FHLB borrowings (70,000) (184,500) 0
Proceeds from FRB borrowings 1 1 1
Repayments of FRB borrowings (1) (1) (1)
Proceeds from Fed Funds Purchased 7,011 100,252 4,277
Repayments of Fed Funds Purchased (7,011) (100,252) (4,277)
Repayments of Junior Subordinated Debentures (155) (5,000) 0
Common stock repurchased (2,999) (2,490) 0
Cash dividends paid on common stock (4,392) (3,939) (3,133)
Net cash (used) provided by financing activities 249,003 44,001 (12,534)
Net change in cash and cash equivalents 109,193 9,017 (13,934)
Cash and cash equivalents at beginning of period 52,387 43,370 57,304
Cash and cash equivalents at end of period 161,580 52,387 43,370
Cash paid during the year for:      
Interest 3,856 3,750 2,128
Income taxes 2,781 3,206 1,163
Noncash investing and financing activities:      
Change in unrealized gain on investment securities available for sale, net 1,756 2,658 (2,607)
Transfer of loans to other real estate 175 26 124
Issuance of accrued restricted stock units 57 207 0
Recognition of right of use lease asset and lease liability $ 942 $ 4,401 $ 0