XML 18 R8.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 1,469 $ 2,418
Adjustments to reconcile to net income to net cash (used in) from operating activities    
Provision for (recovery of ) loan losses (335) 471
Depreciation 447 403
Amortization of premiums and discounts on securities 0 1
Amortization of intangibles 7 14
Amortization of servicing assets 21 15
Net change in net deferred loan origination costs 311 64
Gain on sale of other real estate owned 0 (30)
Loss on disposal of other assets 0 2
Earnings on bank-owned life insurance (21) (32)
Net change in:    
Accrued interest receivable (754) (135)
Other assets (20) 708
Accrued interest payable and other liabilities (1,296) (3,336)
Net cash (used in) from operating activities (171) 563
Cash flows from investing activities    
Proceeds from maturities 7,440 23,188
Proceeds from principal repayments 343 810
Purchases of securities (4,712) (27,756)
Net (increase) decrease in loans receivable (25,690) 19,818
Loan participation purchased (5,000) 0
Proceeds from sale of other real estate owned 0 95
Purchase of premises and equipment, net (498) (261)
Net cash (used in) from investing activities (28,117) 15,894
Cash flows from financing activities    
Deposits 28,493 (31,006)
Borrowings 0 (61)
Advance payments by borrowers for taxes and insurance (2,157) (2,053)
Repurchase and retirement of common stock (1,488) (2,202)
Cash dividends paid on common stock (1,473) (1,522)
Net cash from (used in) financing activities 23,375 (36,844)
Net change in cash and cash equivalents (4,913) (20,387)
Beginning cash and cash equivalents 503,496 190,325
Ending cash and cash equivalents 498,583 169,938
Supplemental disclosures of cash flow information:    
Interest paid 670 2,683
Income taxes paid 17 65
Loans transferred to foreclosed assets 4,473 0
Recording of right of use asset in exchange for lease obligations in other assets and other liabilities $ 0 $ 111