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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net earnings $ 9,741 $ 8,834
Adjustments to reconcile net earnings to net cash provided by operating activties:    
Provision for loan losses (250) 0
Depreciation and amortization 1,157 938
Premium amortization and discount accretion, net 1,853 2,025
Deferred income tax (benefit) expense (153) 71
Net gain on securities available for sale 123 0
Net gain on sale of loans held for sale (545) (311)
Net gain on other real estate owned (59) 0
Loans originated for sale (30,407) (27,681)
Proceeds from sale of loans 28,892 29,323
Increase in cash surrender value of bank owned life insurance (437) (435)
Net increase in other assets (872) (221)
Net increase (decrease) in accrued expenses and other liabilities 1,807 (402)
Net cash provided by operating activities 10,850 12,141
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 36,462 8,770
Proceeds from prepayments and maturities of securities available-for-sale 55,078 22,673
Purchase of securities available-for-sale (81,843) (19,841)
Decrease (increase) in loans, net 15,771 (24,749)
Net purchases of premises and equipment (1,809) (240)
Decrease (increase) in FHLB stock 32 (20)
Proceeds from sale of other real estate owned 394 1,353
Net cash provided by (used in) investing activities 24,085 (12,054)
Cash flows from financing activities:    
Net (decrease) increase in noninterest-bearing deposits (5,430) 7,731
Net increase (decrease) in interest-bearing deposits 5,389 (41,197)
Net decrease in federal funds purchased and securities sold under agreements to repurchase (1,231) (358)
Repayments or retirement of long-term debt 0 (3,217)
Stock repurchases (2,721) 0
Dividends paid (3,575) (3,498)
Net cash used in financing activities (7,568) (40,539)
Net change in cash and cash equivalents 27,367 (40,452)
Cash and cash equivalents at beginning of period 65,076 105,528
Cash and cash equivalents at end of period 92,443 65,076
Cash paid (received) during period for:    
Interest 4,092 3,616
Income taxes 2,295 2,688
Gain From Loan Guarantee Program (1,717) 0
Supplemental disclosure of non-cash transactions:    
Initial recognition of operating lease right-of-use assets 891  
Initial recognition of operating lease liabilities 889  
Real estate acquired through foreclosure $ 82 $ 1,525