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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net earnings $ 6,166 $ 10,347
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for (reversal of) loan losses (500) 500
Valuation allowance on real estate owned 48
Amortization of investment security premiums, net 978 911
Amortization of purchase accounting adjustment on loans (9) (23)
Amortization of mortgage servicing rights and other intangibles 651 849
Depreciation 563 490
Increase in cash surrender value of bank owned life insurance [1] (377) (301)
Stock-based compensation 164 161
Deferred income taxes (70) (413)
Net gains on sales of investment securities (1,108)
Net gains on sales of premises and equipment and foreclosed assets (114) (5)
Net gains on sales of loans [1] (1,978) (6,004)
Proceeds from sales of loans 79,920 198,893
Origination of loans held for sale (79,862) (189,500)
Changes in assets and liabilities:    
Accrued interest and other assets 767 1,673
Accrued expenses, taxes, and other liabilities (769) (2,035)
Net cash provided by operating activities 5,530 14,483
Cash flows from investing activities:    
Net (increase) decrease in loans (8,088) 28,609
Net change in interest-bearing deposits at banks (993) 245
Maturities and prepayments of investment securities 24,097 21,978
Purchases of investment securities (159,481) (87,822)
Proceeds from sales of investment securities 15,224
Redemption of bank stocks 185 1,967
Purchase of bank stocks (161) (714)
Purchase bank owned life insurance (6,000)
Proceeds from sales of premises and equipment and foreclosed assets 1,379 346
Purchases of premises and equipment, net (439) (134)
Net cash used in investing activities (143,501) (26,301)
Cash flows from financing activities:    
Net (decrease) increase in deposits (17,014) 61,736
Repayments on other borrowings (1,180) (1,837)
Proceeds from exercise of stock options 22
Payment of dividends (2,097) (1,903)
Purchase of treasury stock (538)
Net cash (used in) provided by financing activities (20,829) 58,018
Net (decrease) increase in cash and cash equivalents (158,800) 46,200
Cash and cash equivalents at beginning of period 189,213 84,818
Cash and cash equivalents at end of period 30,413 131,018
Supplemental disclosure of cash flow information:    
Cash payments for income taxes 20 3,958
Cash paid for interest 845 804
Cash paid for operating leases 97 76
Supplemental schedule of noncash investing and financing activities:    
Investment securities purchases not yet settled 685
Operating lease asset and related lease liability recorded $ 219
[1] Not within the scope of ASC 606.