XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Cash Flows From Operating Activities              
Net income $ 2,705 $ 2,679 $ 3,406 $ 3,985 $ 5,384 $ 7,391  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation         480 335  
Accretion and amortization of investment securities premiums and discounts, net         835 847  
Valuation adjustment on mortgage servicing rights         198 0  
Increase (decrease) in deferred loan origination fees and costs, net         5,685 (90)  
Provision for loan losses 800   0   1,450 0 $ 0
Stock-based compensation         283 236  
Gain on sale of fixed assets         0 (281)  
(Gains) losses on sales/calls of available-for-sale securities (4)   6   (42) 6  
Other real estate owned writedowns         0 308  
Amortization of operating lease right-of-use asset         511 373  
Gains on sales of loans held-for-sale (586)   (70)   (750) (185)  
Proceeds from sales of loans held-for-sale         36,088 10,280  
Originations of loans held-for-sale         (33,056) (8,954)  
Changes in assets and liabilities:              
Increase in interest receivable and other assets         (1,004) (2,581)  
Decrease in interest payable and other liabilities         (2,297) (1,164)  
Net cash provided by operating activities         13,765 6,521  
Cash Flows From Investing Activities              
Proceeds from calls or maturities of available-for-sale securities         21,700 24,580  
Proceeds from sales of available-for-sale securities         10,344 8,102  
Principal repayments on available-for-sale securities         29,691 23,972  
Purchase of available-for-sale securities         (46,777) (47,130)  
Net increase in certificates of deposit         (5,638) (6,615)  
Net (increase) decrease in loans         (218,356) 31,864  
Net decrease (increase) in stock in Federal Home Loan Bank and other equity securities, at cost         94 (555)  
Net (purchases) sales/disposals of premises and equipment         (779) 389  
Net cash used in (provided by) investing activities         (209,721) 34,607  
Cash Flows From Financing Activities              
Net increase (decrease) in deposits         299,571 (32,867)  
Increase in Federal Home Loan Bank advances         10,000 0  
Cash dividends paid in lieu of fractional shares         (8) (8)  
Stock options exercised         4 0  
Net cash provided by (used in) financing activities         309,567 (32,875)  
Net increase in Cash and Cash Equivalents         113,611 8,253  
Cash and Cash Equivalents, beginning of period   $ 111,493   $ 116,032 111,493 116,032 116,032
Cash and Cash Equivalents, end of period $ 225,104   $ 124,285   225,104 124,285 $ 111,493
Cash paid during the period for:              
Interest         912 801  
Income taxes         2,450 3,560  
Supplemental disclosures of non-cash investing and financing activities:              
Stock dividend distributed         7,016 6,610  
Unrealized holding gains on available for sale securities, net of taxes         $ 6,308 $ 4,802