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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 7,128 $ 5,542
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 300 1,500
Depreciation 372 373
Amortization of intangible assets 27 35
Deferred income taxes 258 4
Net amortization of securities premiums and discounts 395 360
Net realized gain on sales of securities   (21)
Earnings and proceeds on life insurance policies (176) (374)
Gain on sales and write-downs of fixed assets and foreclosed real estate owned, net (427) (3)
Net amortization of loan fees (280) (655)
Net gain on sale of loans   (29)
Loans originated for sale   (1,083)
Proceeds from sale of loans originated for sale   1,112
Compensation expense related to stock options 67 54
Compensation expense related to restricted stock 82 84
Decrease (increase) in accrued interest receivable 13 (85)
Decrease in accrued interest payable (43) (231)
Other, net 1,671 956
Net cash provided by operating activities 9,387 7,539
Securities available for sale:    
Proceeds from sales   1,127
Proceeds from maturities and principal reductions on mortgage-backed securities 13,254 15,576
Purchases (71,498) (69,602)
Purchase of regulatory stock (106) (1,229)
Redemption of regulatory stock 610 1,167
Net increase in loans (16,142) (10,262)
Proceeds from bank-owned life insurance policies   511
Purchase of premises and equipment (105) (207)
Proceeds from sales of foreclosed real estate owned 1,579 124
Net cash used in investing activities (72,408) (62,795)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 24,984 149,803
Net increase in short-term borrowings 2,800 9,614
Repayments of other borrowings (3,154) (3,093)
Stock options exercised 47 71
Purchase of treasury stock (13) (194)
Cash dividends paid (2,298) (2,139)
Net cash provided by financing activities 22,366 154,062
(Decrease) increase in cash and cash equivalents (40,655) 98,806
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 206,681 111,693
CASH AND CASH EQUIVALENTS - END OF PERIOD 166,026 210,499
Cash payments for:    
Interest paid 1,289 1,756
Income taxes paid, net of refunds 106 50
Supplemental Schedule of Noncash Investing Activities:    
Transfers of loans to foreclosed real estate owned and repossession of other assets 67 296
Dividends payable $ 2,298 $ 2,137