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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Cash flows from operating activities      
Net earnings $ 10,962,000 $ 6,278,000  
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 1,108,000 989,000  
Amortization 343,000 335,000  
Deferred taxes (221,000) (613,000)  
Premium amortization, net of discount accretion 1,056,000 912,000  
Gain on sale of loans (1,398,000) (1,189,000)  
Provision for credit losses 0 1,400,000  
Origination of loans held for sale (32,850,000) (25,017,000)  
Proceeds from loans held for sale 35,127,000 24,550,000  
Write-down of other real estate and repossessed assets 2,000 102,000  
Net gain on sale of premises, equipment, other real estate owned and other assets (50,000) (2,000)  
Stock based compensation 162,000 155,000  
Net change in accrued interest receivable and other assets (7,406,000) 1,775,000  
Net change in accrued interest payable and other liabilities 3,049,000 (45,000)  
Net cash provided by operating activities 9,884,000 9,630,000  
Securities available for sale:      
Purchases (50,604,000) (19,551,000)  
Proceeds from maturities and principal repayments 19,776,000 10,142,000  
Securities held to maturity:      
Proceeds from maturities and principal repayments 0 3,024,000  
Net originations of loans (45,685,000) (12,194,000)  
Purchases of premises and equipment (799,000) (2,054,000)  
Proceeds from BOLI death benefit 464,000 0  
Proceeds from sale of premises, equipment, other real estate owned and other assets 115,000 177,000  
Net cash used in investing activities (76,733,000) (20,456,000)  
Cash flows from financing activities      
Net change in deposits 188,820,000 43,622,000  
Net change in securities sold under agreements to repurchase 8,376,000 743,000  
Proceeds from FHLB advances 40,000,000 60,000,000  
Repayment of FHLB advances (100,005,000) (44,504,000)  
Proceeds from line of credit 3,000,000 20,000,000  
Purchase of treasury stock 0 (10,817,000)  
Exercise of stock options 527,000 72,000  
Cash dividends (2,188,000) (2,076,000)  
Net cash provided by financing activities 138,530,000 67,040,000  
Net change in cash and cash equivalents 71,681,000 56,214,000  
Cash and cash equivalents at beginning of period 351,791,000 90,714,000 $ 90,714,000
Cash and cash equivalents at end of period 423,472,000 146,928,000 $ 351,791,000
Supplemental disclosures of cash flow information      
Interest paid 2,067,000 4,915,000  
Supplemental schedule of noncash investing and financing activities      
Cash dividends accrued 2,411,000 2,119,000  
Transfer of loans to other real estate owned and repossessed assets 437,000 179,000  
Stock dividend $ 35,947,000 $ 0