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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net earnings $ 10,662 $ 10,426 $ 4,369
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Provision for loan losses 1,400 1,400 450
Valuation allowance on real estate owned 31 12 210
Amortization of investment security premiums, net 1,682 1,908 1,888
Amortization of purchase accounting adjustment on loans (48) (211) (188)
Amortization of purchase accounting adjustment on subordinated debentures 167 200
Amortization of intangibles 1,206 1,111 1,258
Depreciation 1,018 1,005 1,030
Increase in cash surrender value of bank owned life insurance (752) [1] (644) [1] (912)
Stock-based compensation 286 223 172
Deferred income taxes (195) 969 487
Net loss(gain) on investment securities 177 (20) (498)
Net (gain) loss on sales of premises and equipment and foreclosed assets (52) 58 (17)
Net gains on sales of loans (6,353) [1] (5,023) [1] (5,390)
Proceeds from sale of loans 208,131 167,544 173,719
Origination of loans held for sale (205,532) (160,729) (169,347)
Changes in assets and liabilities:      
Accrued interest and other assets 49 (470) (2,013)
Accrued interest, expenses and other liabilities (2,427) 3,657 (2,362)
Net cash provided by operating activities 9,283 21,383 3,056
Cash flows from investing activities:      
Net increase in loans (44,817) (57,060) (13,785)
Maturities and prepayments of investment securities 73,592 54,617 59,198
Purchases of investment securities (53,197) (82,742) (75,186)
Proceeds from sale of investment securities 15,318 21,126 13,810
Proceeds from sales of common stock investments 7
Redemption of bank stocks 7,852 10,380 9,099
Purchase of bank stocks (6,185) (9,733) (9,223)
Proceeds from sales of premises and equipment and foreclosed assets 258 424 856
Proceeds from bank owned life insurance 284 528
Purchase of bank owned life insurance (5,000)
Purchases of premises and equipment, net (1,038) (1,308) (1,449)
Net cash used in investing activities (7,933) (64,289) (21,152)
Cash flows from financing activities:      
Net increase in deposits 11,400 58,090 24,038
Federal Home Loan Bank advance borrowings 430,322 635,303 622,241
Federal Home Loan Bank advance repayments (447,322) (646,903) (629,741)
Proceeds from other borrowings 2,302 1,737 1,126
Repayments on other borrowings (100)
Proceeds from exercise of stock options 36 534 228
Payment of dividends (3,508) (3,325) (3,108)
Net cash (used in) provided by financing activities (6,770) 45,436 14,684
Net (decrease) increase in cash and cash equivalents (5,420) 2,530 (3,412)
Cash and cash equivalents at beginning of year 19,114 16,584 19,996
Cash and cash equivalents at end of year 13,694 19,114 16,584
Supplemental disclosure of cash flow information:      
Cash payments (refunds) received during the year for income taxes 722 (1,364) 850
Cash paid during the year for interest 6,795 5,030 3,380
Cash paid during the year for operating leases 163 143 125
Supplemental schedule of noncash investing and financing activities:      
Transfer of loans to real estate owned 482 96 206
Operating lease asset and related liability recorded $ 353
[1] Not within the scope of ASC 606.