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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net income $ 18,328 $ 27,858 $ 22,289
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for loan losses 29,600 2,300 1,900
Depreciation and other amortization 2,190 1,915 1,755
Accretion and amortization of securities discounts and premiums, net 710 432 437
Write-down of real estate owned 1,029 117
Gain on sale of investment securities available for sale (3) (727) (7)
Gain on sale of fixed assets (196) (8)
Net change in operating leases 180 585
Compensation expense related to stock options and restricted stock grants 1,397 1,698 1,502
Gain on sale of loans held for sale (21,186) (10,219) (5,144)
Loans originated and held for sale (594,289) (380,632) (204,429)
Proceeds from sale of loans held for sale 582,264 373,046 212,122
Increase in cash surrender value of bank owned life insurance (1,091) (1,001) (878)
Increase in deferred tax asset (2,741) (420) (115)
(Increase) decrease in other assets, net (4,670) (600) 216
Increase in other liabilities, net 9,097 4,074 1,946
Net cash provided by operating activities 20,619 18,309 31,703
Increase (decrease) in cash realized from:      
Increase in loans, net (203,632) (267,613) (291,923)
Purchase of property and equipment (7,276) (8,431) (1,943)
Purchase of investment securities:      
Available for sale (50,854) (39,930) (23,181)
Other investments (2,338) (4,675) (46)
Available for sale 24,784 19,212 9,025
Other investments 5,651 1,848 387
Proceeds from sale of investment securities available for sale 29,006 5,841
Purchase of life insurance policies (5,000)
Proceeds from sale of fixed assets 2,895
Proceeds from sale of other real estate owned 132
Net cash used for investing activities (230,770) (275,583) (301,708)
Increase (decrease) in cash realized from:      
Increase in deposits, net 266,634 227,988 267,013
Increase (decrease) in Federal Home Loan Bank advances and other borrowings (85,000) 60,000 (17,200)
Increase of subordinated debt 22,460
Proceeds from the exercise of stock options 1,388 1,769 900
Net cash provided by financing activities 183,022 312,217 250,713
Net increase (decrease) in cash and cash equivalents (27,129) 54,943 (19,292)
Cash and cash equivalents, beginning of year 127,816 72,873 92,165
Cash and cash equivalents, end of year 100,687 127,816 72,873
Cash paid for      
Interest 16,312 25,156 15,410
Income taxes 2,741 7,883 5,451
Schedule of non-cash transactions      
Foreclosure of other real estate 2,198
Unrealized (gain) loss on securities, net of income taxes (1,323) (1,193) 455
Right-of-use assets obtained in exchange for lease obligations:      
Operating leases $ 2,115 $ 21,459