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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Cash flows from operating activities      
Net earnings $ 6,278,000   $ 5,337,000
Adjustments to reconcile net earnings to net cash provided from operating activities:      
Depreciation 989,000   1,003,000
Amortization 335,000   348,000
Deferred taxes (613,000)   (43,000)
Premium amortization, net of discount accretion 912,000   943,000
Gain on sale of loans (1,189,000)   (477,000)
Provision for credit losses 1,400,000 $ 0 575,000
Origination of loans held for sale (25,017,000)   (13,560,000)
Proceeds from loans held for sale 24,550,000   14,610,000
Write-down of other real estate and repossessed assets 102,000   10,000
Net gain on sale of premises, equipment, other real estate owned and other assets (2,000)   (34,000)
Stock based compensation 155,000   137,000
Net change in accrued interest receivable and other assets 1,775,000   (9,826,000)
Net change in accrued interest payable and other liabilities (45,000)   11,302,000
Net cash provided by operating activities 9,630,000   10,325,000
Securities available for sale:      
Purchases (19,551,000)   (5,120,000)
Proceeds from maturities and principal repayments 10,142,000   5,855,000
Securities held to maturity:      
Proceeds from maturities and principal repayments 3,024,000   1,666,000
Net originations of loans (12,194,000)   3,760,000
Net purchases of premises and equipment (2,054,000)   (1,154,000)
Net proceeds from sale of premises, equipment, other real estate owned and other assets 177,000   296,000
Net cash (used in) provided by investing activities (20,456,000)   5,303,000
Cash flows from financing activities      
Net change in deposits 43,622,000   90,821,000
Net change in securities sold under agreements to repurchase 743,000   (686,000)
Proceeds from FHLB advances 60,000,000   56,000,000
Repayment of FHLB advances (44,504,000)   (121,005,000)
Proceeds from line of credit 20,000,000    
Repayments of debentures     (500,000)
Purchase of treasury stock (10,817,000)   (1,932,000)
Exercise of stock options 72,000   481,000
Cash dividends (2,076,000)   (2,013,000)
Net cash provided by financing activities 67,040,000   21,166,000
Net change in cash and cash equivalents 56,214,000   36,794,000
Cash and cash equivalents at beginning of period 90,714,000   71,510,000
Cash and cash equivalents at end of period 146,928,000 $ 90,714,000 108,304,000
Supplemental disclosures of cash flow information      
Interest paid 4,915,000   6,174,000
Supplemental schedule of noncash investing and financing activities      
Purchase of treasury stock accrued     283,000
Cash dividends accrued 2,119,000   2,008,000
Transfer loans to other real estate owned and repossessed assets $ 179,000   $ 130,000