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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 2,418 $ 3,551
Adjustments to reconcile to net income to net cash from operating activities    
Provision for (recovery of) loan losses (471) 87
Depreciation 403 391
Amortization of premiums and discounts on securities and loans 1 1
Amortization of intangibles 14 20
Amortization of servicing assets 15 17
Net change in net deferred loan origination costs 64 7
Gain on sale of other real estate owned (30) (95)
Gain on sale of equity securities 0 (295)
Loss on disposal of other assets 2 19
Earnings on bank-owned life insurance (32) (30)
Net change in:    
Accrued interest receivable (135) (459)
Other assets 708 1,293
Accrued interest payable and other liabilities (3,336) (3,991)
Net cash from operating activities 563 342
Securities    
Proceeds from maturities 23,188 30,974
Proceeds from principal repayments 810 449
Proceeds from sale of equity securities 0 3,722
Purchases of securities (27,756) (26,479)
Net decrease in loans receivable 19,818 17,325
Proceeds from sale of other real estate owned 95 446
Purchase of premises and equipment, net (261) (197)
Net cash from investing activities 15,894 26,240
Cash flows from financing activities    
Net change in deposits (31,006) (25,738)
Net change in borrowings (61) (4,943)
Net change in advance payments by borrowers for taxes and insurance (2,053) (1,397)
Payments for Repurchase of Common Stock (2,202) (12,840)
Payments of Ordinary Dividends, Common Stock (1,522) (1,646)
Net cash used in financing activities (36,844) (46,564)
Net change in cash and cash equivalents (20,387) (19,982)
Beginning cash and cash equivalents 190,325 98,204
Ending cash and cash equivalents 169,938 78,222
Supplemental disclosures of cash flow information:    
Interest paid 2,683 3,453
Income taxes paid 65 375
Loans transferred to other real estate owned 0 $ 46
Recording of right of use asset in exchange for lease obligations in other assets and other liabilities $ 111