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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net earnings $ 3,363 $ 2,183
Adjustments to reconcile net earnings to net cash provided by (used by) operating activities:    
Provision for loan losses 1,200 200
Amortization of investment security premiums, net 366 440
Amortization of purchase accounting adjustment on loans (5) (34)
Amortization of intangibles 277 264
Depreciation 250 246
Increase in cash surrender value of bank owned life insurance [1] (154) (159)
Stock-based compensation 85 69
Deferred income taxes 403 (339)
Net gains on sales of investment securities (1,770)
Net losses on sales of foreclosed assets 1
Net gains on sales of loans [1] (1,193) (1,120)
Proceeds from sales of loans 45,830 25,395
Origination of loans held for sale (45,893) (26,139)
Changes in assets and liabilities:    
Accrued interest and other assets (928) (430)
Accrued expenses, taxes, and other liabilities 2,948 (1,605)
Net cash provided by (used in) operating activities 4,780 (1,029)
Cash flows from investing activities:    
Net increase in loans (23,105) (1,548)
Maturities and prepayments of investment securities 18,948 14,833
Purchases of investment securities (10,909) (7,735)
Proceeds from sales of investment securities 44,508
Redemption of bank stocks 680 4,254
Purchase of bank stocks (915) (2,472)
Proceeds from sales of premises and equipment and foreclosed assets 45 14
Purchases of premises and equipment, net (120) (243)
Net cash provided by investing activities 29,132 7,103
Cash flows from financing activities:    
Net decrease in deposits (4,568) (1,847)
Federal Home Loan Bank advance borrowings 101,768 101,786
Federal Home Loan Bank advance repayments (104,768) (111,486)
Proceeds from other borrowings 1,000 1,567
Repayments on other borrowings (9,346)
Proceeds from exercise of stock options 33
Payment of dividends (920) (875)
Purchase of treasury stock (2,023)
Net cash used in financing activities (18,824) (10,855)
Net increase (decrease) in cash and cash equivalents 15,088 (4,781)
Cash and cash equivalents at beginning of period 13,694 19,114
Cash and cash equivalents at end of period 28,782 14,333
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,258 1,685
Cash paid for operating leases 44 40
Supplemental schedule of noncash investing and financing activities:    
Transfer of loans to real estate owned 314 20
Investment securities purchases not yet settled (1,858)
Operating lease asset and related lease liability recorded $ 353
[1] Not within the scope of ASC 606.