XML 54 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net income $ 8,089 $ 6,899
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses [1] 1,000 0
Net amortization and accretion 668 1,020
Investment securities losses, net 6 88
Stock-based compensation 512 631
Increase in cash value of bank-owned life insurance (158) (152)
Gain on sale of premises 0 (307)
Depreciation 375 345
Deferred income taxes 265 531
Change in assets and liabilities:    
Increase in accrued interest receivable (424) (946)
Increase in other assets (451) (782)
Increase (decrease) in accrued expenses and other liabilities 530 (682)
Net cash provided by operating activities 10,412 6,645
Cash Flows from Investing Activities:    
Proceeds from sales of securities available for sale 39,077 62,274
Proceeds from maturities and calls of securities available for sale 14,071 8,882
Purchases of securities available for sale (27,190) (47,068)
Purchases of Federal Home Loan Bank stock (4,294) (11,539)
Proceeds from redemption of Federal Home Loan Bank stock 3,046 11,937
Net increase in loans (52,672) (26,952)
Proceeds from sale of premises 0 604
Purchases of premises and equipment (174) (113)
Net cash used in investing activities (28,136) (1,975)
Cash Flows from Financing Activities:    
Net increase in deposits 5,369 13,794
Net increase (decrease) in federal funds purchased 29,680 (2,250)
Principal payments on Federal Home Loan Bank advances 0 (10,000)
Principal payments on long-term debt (29) (2,029)
Common stock dividends paid (3,440) (3,259)
Restricted stock units withheld for payroll taxes (749) (861)
Net cash provided by financing activities 30,831 (4,605)
Net increase in cash and cash equivalents 13,107 65
Cash and Cash Equivalents    
Beginning 53,290 47,474
Ending 66,397 47,539
Supplemental Disclosures of Cash Flow Information:    
Cash payments for interest 6,768 7,414
Cash payments for income taxes 0 0
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]    
Establishment of lease liability and right-of-use asset $ 0 $ 10,092
[1] The negative provisions for the various segments are related to the decline in outstanding balances in each of those portfolio segments during the time periods disclosed and/or improvement in the credit quality factors related to those portfolio segments.