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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net income $ 7,674 $ 5,074
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation 153 189
Right of use asset amortization 346 333
Provision for loan losses   2,365
Share-based compensation expense 139 149
Net amortization of securities 125 95
Fair value adjustment on equity securities 117 (33)
Amortization of debt issuance costs 117 13
Net losses on premises and equipment 1  
Gains on sales and calls of available-for-sale securities   (10)
Deferred tax expense (benefit) 580 (835)
Increase in cash surrender value of life insurance (95) (107)
Changes in assets and liabilities:    
Decrease in accrued interest receivable 589 490
Decrease in other assets 409 583
Decrease in accrued interest payable (366) (185)
Increase (decrease) in other liabilities (172) 571
Net cash provided by operating activities 9,617 8,692
Cash Flows from Investing Activities    
Net (increase) decrease in loans 35,208 (43,260)
Purchase of available-for-sale securities (87,151) (71,807)
Purchase of held-to-maturity securities (1,003)  
Proceeds from sales of available-for-sale securities 0 0
Proceeds from maturities, calls and principal repayments of available-for-sale securities 14,968 7,831
Proceeds from maturities, calls and principal repayments of held-to-maturity securities 2,261  
Net (purchase) redemption of restricted securities (137) 587
Purchase of equity securities (572) (455)
Purchases of bank premises and equipment (66) (70)
Net cash (used in) investing activities (36,492) (107,174)
Cash Flows from Financing Activities    
Net increase in deposits 101,546 121,270
Issuance of common stock for share options exercised 1,891 152
Net cash provided by investing activities 103,437 121,422
Net increase in cash and cash equivalents 76,562 22,940
Cash and cash equivalents, beginning of period 105,799 138,457
Cash and cash equivalents, end of period 182,361 161,397
Supplemental Disclosures of Cash Flow Information    
Interest 2,078 2,637
Supplemental Disclosures of Noncash Transactions    
Unrealized gain (loss) on securities available-for-sale $ (13,276) $ (3,229)