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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 4,017 $ 8,696  
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 6,147 (400)  
Depreciation and amortization 1,609 1,476  
Stock-based compensation expense 426 426  
Income on bank-owned life insurance, net (153) (162)  
Net (gains) losses on sales of debt securities (100) 1  
Mortgage loans originated for sale (7,957) (1,443)  
Proceeds from mortgage loans sold 8,229 1,848  
Net gains on sales of loans (147) (36)  
Net losses (gains) on equity securities 198 (186)  
Changes in:      
Increase in other assets (3,758) (902)  
Increase (decrease) in other liabilities 5,328 (3,355)  
Net cash provided by operating activities 13,839 5,963  
Cash flows from investing activities:      
Proceeds from sales of debt securities 2,627 3,648  
Purchase of debt securities (6,350) (38,788)  
Proceeds from maturities, calls and pay-downs of debt securities 11,283 7,228  
Net purchases of equity securities (319) (415)  
Net (purchases) proceeds from the sales of FHLB capital stock (1,140) 3,866  
Net (increase) decrease in loans (118,465) 2,894  
Additions to premises and equipment, net (2,603) (1,969)  
Net cash used in investing activities (114,967) (23,536)  
Cash flows from financing activities:      
Net increase in deposits 126,120 191,384  
Net decrease in borrowed funds (12,004) (100,004)  
Cash dividends paid, net of DRP (1,766) (1,577)  
Proceeds from issuance of common stock 7 8  
Net settlement for employee taxes on restricted stock and options (182) (240)  
Net proceeds from stock option exercises 16 144  
Net cash provided by financing activities 112,191 89,715  
Net increase in cash and cash equivalents 11,063 72,142  
Cash and cash equivalents at beginning of period 63,794 63,120 $ 63,120
Cash and cash equivalents at end of period $ 74,857 $ 135,262 $ 63,794