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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net earnings $ 3,133 $ 5,367
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for (reversal of) loan losses (500) 500
Amortization of investment security premiums, net 542 392
Amortization of purchase accounting adjustment on loans (13) (8)
Amortization of mortgage servicing rights and other intangibles 316 437
Depreciation 280 245
Increase in cash surrender value of bank owned life insurance [1] (187) (148)
Stock-based compensation 86 84
Deferred income taxes 189 628
Net gains on sales of investment securities (1,075)
Net gains on sales of premises and equipment and foreclosed assets (114) (5)
Net gains on sales of loans [1] (905) (3,140)
Proceeds from sales of loans 39,946 100,687
Origination of loans held for sale (39,904) (96,648)
Changes in assets and liabilities:    
Accrued interest and other assets 813 75
Accrued expenses, taxes, and other liabilities (1,091) (484)
Net cash provided by operating activities 2,591 6,907
Cash flows from investing activities:    
Net decrease (increase) in loans 28,597 (15,519)
Net change in interest-bearing deposits at banks 997 5
Maturities and prepayments of investment securities 12,838 7,720
Purchases of investment securities (118,585) (40,854)
Proceeds from sales of investment securities 13,346
Redemption of bank stocks 92 1,017
Purchase of bank stocks (43) (606)
Proceeds from sales of premises and equipment and foreclosed assets 1,379 305
Purchases of premises and equipment, net (396) (72)
Net cash used in investing activities (75,121) (34,658)
Cash flows from financing activities:    
Net (decrease) increase in deposits (8,916) 55,219
Repayments on other borrowings (399) (2,206)
Proceeds from exercise of stock options 22
Payment of dividends (1,049) (951)
Net cash (used in) provided by financing activities (10,364) 52,084
Net (decrease) increase in cash and cash equivalents (82,894) 24,333
Cash and cash equivalents at beginning of period 189,213 84,818
Cash and cash equivalents at end of period 106,319 109,151
Supplemental disclosure of cash flow information:    
Cash paid for interest 324 419
Cash paid for operating leases 34 32
Supplemental schedule of noncash investing and financing activities:    
Investment securities purchases not yet settled $ 7,028
[1] Not within the scope of ASC 606.