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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net earnings $ 12,126,000 $ 9,437,000
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation, amortization and accretion 3,991,000 3,080,000
Provision for (recovery of) loan losses (863,000) 3,460,000
Deferred income taxes (27,000) (25,000)
Gain on sale of investment securities 0 (2,145,000)
Gain on sale of other real estate (21,000) 0
Write-down of other real estate 0 47,000
Gain on sale of other assets (104,000) 0
Restricted stock expense (166,000) (73,000)
Proceeds from sales of mortgage loans held for sale 76,086,000 78,526,000
Origination of mortgage loans held for sale (76,033,000) (83,069,000)
Change in:    
Cash surrender value of life insurance (297,000) (283,000)
Right of use lease asset 562,000 525,000
Other assets 416,000 (219,000)
Lease liability (549,000) (508,000)
Other liabilities 2,138,000 (677,000)
Net cash provided by operating activities 17,259,000 8,076,000
Cash flows from investing activities:    
Purchases of investment securities available for sale (186,793,000) (90,233,000)
Proceeds from sales, calls and maturities of investment securities available for sale 6,010,000 52,289,000
Proceeds from paydowns of investment securities available for sale 18,335,000 14,635,000
Proceeds from paydowns on other investments 132,000 132,000
Redemptions (purchases) of FHLB stock 331,000 (3,031,000)
Net change in loans 57,552,000 (120,781,000)
Purchases of premises and equipment (379,000) (2,298,000)
Purchases of bank owned life insurance 0 (140,000)
Proceeds from sale of other assets 515,000 0
Proceeds from sale of other real estate and repossessions 149,000 0
Net cash used by investing activities (104,148,000) (149,427,000)
Cash flows from financing activities:    
Net change in deposits 188,879,000 219,879,000
Net change in securities sold under agreement to repurchase 6,131,000 9,930,000
Proceeds from FHLB borrowings 0 70,000,000
Repayment of Junior Subordinated Debt 0 (155,000)
Proceeds from Fed Funds purchased 0 (6,935,000)
Repayments of Fed Funds purchased 0 6,935,000
Restricted stock units exercised 39,000 57,000
Common stock repurchased (3,605,000) (2,999,000)
Cash dividends paid on common stock (2,827,000) (3,520,000)
Net cash provided by financing activities 188,617,000 293,192,000
Net change in cash and cash equivalents 101,728,000 151,841,000
Cash and cash equivalents at beginning of period 161,580,000 52,387,000
Cash and cash equivalents at end of period 263,308,000 204,228,000
Cash paid during the period for:    
Interest 1,658,000 1,908,000
Income taxes 3,221,000 1,651,000
Noncash investing and financing activities:    
Change in unrealized gain on investment securities available for sale, net (2,090,000) 2,356,000
Issuance of accrued restricted stock units 39,000 57,000
Transfers of loans to other real estate and repossessions 0 175,000
Transfers of premises and equipment to other assets held for sale $ 408,000 $ 0