XML 18 R9.htm IDEA: XBRL DOCUMENT v3.22.2
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 2,776 $ 1,903
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 779 878
Provision for loan and lease losses 1,616 899
Deferred income tax provision 165 111
Net gain on sale and prepayment of investment securities   (22)
Stock-based compensation expense 238 213
Net amortization of securities 144 152
Amortization of intangible assets 146 183
Net (gain) loss on premises and equipment and other real estate (225) 15
Changes in assets and liabilities:    
(Increase) decrease in accrued interest receivable (94) 228
Decrease in other assets 535 1,020
Decrease (increase) in accrued interest expense 268 (69)
Decrease in other liabilities (1,171) (317)
Net cash provided by operating activities 5,177 5,194
Cash flows from investing activities:    
Net decrease in federal funds sold 2 2
Purchases of investment securities, available-for-sale (39,256) (59,962)
Proceeds from maturities and prepayments of investment securities, available-for-sale 10,133 25,952
Proceeds from maturities and prepayments of investment securities, held-to-maturity 1,085 1,559
Net (increase) decrease in Federal Home Loan Bank stock (14) 265
Proceeds from the sale of premises and equipment and other real estate 2,380 747
Net increase in loans (8,704) (41,103)
Purchases of premises and equipment (341) (539)
Net cash used in investing activities (34,715) (73,079)
Cash flows from financing activities:    
Net increase in deposits 6,170 55,673
Net increase in short-term borrowings 42  
Net increase in long-term borrowings 37  
Net share-based compensation transactions   (7)
Treasury stock repurchases (3,828) 0
Dividends paid (366) (373)
Net cash provided by financing activities 2,055 55,293
Net decrease in cash and cash equivalents (27,483) (12,592)
Cash and cash equivalents, beginning of period 61,244 94,415
Cash and cash equivalents, end of period 33,761 81,823
Supplemental disclosures:    
Interest 1,103 1,597
Income taxes 1,311 578
Non-cash transactions:    
Assets acquired in settlement of loans 329 515
Reissuance of treasury stock as compensation $ 138 $ 18