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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 6,718 $ 8,282
Adjustments to reconcile to net income to net cash from operating activities    
Provision for (recovery of ) loan losses 326 3,736
Depreciation 1,236 1,211
Amortization of premiums and discounts on securities 4 4
Amortization of intangibles 27 47
Amortization of servicing assets 56 63
Net change in net deferred loan origination costs 545 127
Gain on sale of other real estate owned (22) (112)
Gain on sale of equity securities 0 (295)
Loss on disposal of other assets 2 19
Other real estate owned valuation adjustments 0 38
Earnings on bank-owned life insurance [1] (51) (105)
Net change in:    
Accrued interest receivable 209 189
Other assets 1,942 4,379
Accrued interest payable and other liabilities (2,399) (3,570)
Net cash from operating activities 8,593 14,013
Cash flows from investing activities    
Proceeds from maturities 55,599 79,210
Proceeds from principal repayments 2,206 2,234
Proceeds from sale of equity securities 0 3,722
Purchases of securities (39,657) (58,700)
Net decrease in loans receivable 101,108 105,846
Purchase of FHLB and FRB stock 0 (4)
Redemption of FHLB and FRB stock 0 540
Proceeds from sale of other real estate owned 120 1,107
Purchase of premises and equipment, net (1,133) (623)
Net cash from investing activities 118,243 133,332
Cash flows from financing activities    
Deposits 117,487 (63,659)
Borrowings 3,939 (19,796)
Advance payments by borrowers for taxes and insurance (224) 271
Repurchase and retirement of common stock (4,194) (16,841)
Cash dividends paid on common stock (4,504) (4,731)
Net cash from (used in) financing activities 112,504 (104,756)
Net change in cash and cash equivalents 239,340 42,589
Beginning cash and cash equivalents 190,325 98,204
Ending cash and cash equivalents 429,665 140,793
Supplemental disclosures of cash flow information:    
Interest paid 6,047 10,295
Income taxes paid 155 349
Income taxes refunded 8 10
Loans transferred to other real estate owned 33 76
Recording of right of use asset in exchange for lease obligations in other assets and other liabilities $ 111 $ 6,694
[1] Not within the scope of ASC 606