XML 21 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings $ 16,123 $ 15,133 $ 11,357
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation, amortization and accretion 6,031 5,569 4,183
Provision for (recovery of) loan losses 1,472 (1,163) 4,259
Deferred income taxes (541) (227) (560)
Gain on sale of investment securities 0 0 (2,639)
Gain on sale of other real estate 0 (21) 0
Write-down of other real estate 0 0 47
(Gain) loss on sale and writedowns of premises and equipment 85 (105) 0
Restricted stock units expense 249 181 27
Proceeds from sales of loans held for sale 22,659 98,365 112,426
Origination of loans held for sale (19,233) (92,863) (117,148)
Change in:      
Cash surrender value of life insurance (403) (397) (380)
Right of use lease asset 1,677 738 199
Other assets (3,920) (554) (596)
Lease liability (1,673) (721) (176)
Other liabilities 131 2,965 (1,837)
Net cash provided by operating activities 22,657 26,900 9,162
Cash flows from investing activities:      
Purchases of investment securities available for sale (149,738) (209,306) (127,893)
Proceeds from sales, calls and maturities of investment securities available for sale 7,875 9,540 62,408
Proceeds from paydowns of investment securities available for sale 37,400 28,536 19,169
Purchases of other investments 0 0 (45)
Proceeds from paydowns of other investment securities 1,162 201 176
Net change in FHLB stock (105) 331 (55)
Net change in loans (148,072) 64,380 (99,971)
Purchases of premises and equipment (4,563) (484) (2,492)
Purchases of bank owned life insurance 0 0 (269)
Proceeds from sale of premises and equipment 0 515 0
Proceeds from sale of other real estate and repossessions 0 149  
Proceeds from bank owned life insurance 65 0 0
Net cash used by investing activities (255,976) (106,138) (148,972)
Cash flows from financing activities:      
Net change in deposits 22,467 191,662 254,569
Net change in securities sold under agreement to repurchase 10,594 10,893 1,980
Proceeds from FHLB borrowings 0 0 70,000
Repayments of FHLB borrowings 0 0 (70,000)
Proceeds from FRB borrowings 1 1 1
Repayments of FRB borrowings (1) (1) (1)
Proceeds from Fed Funds Purchased 162 162 7,011
Repayments of Fed Funds Purchased (162) (162) (7,011)
Repayments of Junior Subordinated Debentures     (155)
Common stock repurchased (710) (3,605) (2,999)
Cash dividends paid on common stock (4,935) (3,793) (4,392)
Net cash provided by financing activities 27,416 195,157 249,003
Net change in cash and cash equivalents (205,903) 115,919 109,193
Cash and cash equivalents at beginning of period 277,499 161,580 52,387
Cash and cash equivalents at end of period 71,596 277,499 161,580
Cash paid during the year for:      
Interest 3,284 3,224 3,856
Income taxes 4,659 3,669 2,781
Noncash investing and financing activities:      
Change in unrealized gain (loss) on investment securities available for sale, net (47,693) (5,304) 1,756
Transfer of loans to other real estate 0 0 175
Issuance of accrued restricted stock units 41 39 57
Initial recognition of lease right of use asset and lease liability $ 2,181 $ 1,927 $ 942