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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities    
Net income $ 17,034 $ 10,925
Adjustments to reconcile net income to net cash used in operating activities:    
Provision for loan losses 2,214 1,709
Depreciation and amortization 342 433
Accretion of discount on loans (104) (74)
Core deposit intangible amortization 202 201
Securities premium amortization, net 117 61
Origination of loans held for sale (67,022) (41,582)
Proceeds from payments and sales of loans held for sale 5,449 10,793
Gain on sale of loans (101) (722)
Stock based compensation 330 151
Deferred income taxes (216) (281)
Net change in:    
Servicing assets, net 326 261
Other assets (1,178) (5,242)
Other liabilities (428) 2,921
Net cash provided by (used in) operating activities (43,035) (20,446)
Cash Flows from Investing Activities    
Acquisition of business (3,185) 0
Purchase of securities held to maturity (16,995) 0
Purchase of securities available for sale (403,000) (343,246)
Principal payments, calls and maturities of securities available for sale 402,659 338,513
Principal payments of securities held to maturity 3,060 543
Purchase of securities, restricted (11,524) (9,277)
Proceeds from sale of securities, restricted 11,524 9,263
Net change in loans 47,118 (83,176)
Purchases of premises and equipment (178) (61)
Net cash provided by (used in) investing activities 29,479 (87,441)
Cash Flows from Financing Activities    
Net change in demand deposits 60,861 74,141
Net change in time deposits 32,759 (9,727)
Proceeds from borrowed funds 556,793 468,641
Repayment of borrowed funds (634,889) (396,951)
Dividends paid on common stock (1,292) 0
Dividends paid on Series B preferred shares (1,552) (1,552)
Net cash provided by financing activities 12,680 134,552
Net change in cash and cash equivalents (876) 26,665
Cash and cash equivalents at beginning of period 46,868 20,203
Cash and cash equivalents at end of period 45,992 46,868
Non Cash Transactions    
Transfers from loans held for sale to loans held for investment 42,757 26,389
Common stock issued in Integra acquisition (Note 18) 10,650 0
Stock options exercised in exchange for note receivable 400 0
Transfers from loans to other real estate owned 1,079 0
Cash paid during the year for:    
Interest 3,662 5,268
Income taxes $ 5,427 $ 3,023