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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Operating Activities      
Net income $ 19,266 $ 8,225 $ 25,000
Items not requiring (providing) cash      
Depreciation and amortization 1,093 849 1,097
Provision for loan losses 5,350 0 200
Net increase on other real estate owned 0 0 (10)
Gain on sales of loans (175) (164) (212)
Stock-based compensation expense 771 12,116 154
(Gain) loss on sale of premises and equipment (3) 183 0
Cash receipts from the sale of loans originated for sale 8,924 7,697 8,185
Cash disbursements for loans originated for sale (8,042) (8,052) (8,097)
(Gain) loss on sale of other real estate owned 0 (330) 3
Deferred income tax benefit (875) (20) (1,069)
Changes in      
Interest receivable and other assets (162) 1,064 (1,405)
Interest payable and other liabilities (912) (2,388) 3,155
Net cash provided by operating activities 25,235 19,180 27,001
Investing Activities      
Maturities of interest-bearing time deposits in other banks 28,162 18,583 3,884
Purchases of interest-bearing time deposits in other banks (14,427) (16,971) (5,475)
Net change in loans (132,866) (107,458) (36,981)
Purchases of premises and equipment (438) (3,100) (378)
Proceeds from sale of premises and equipment 27 403 1,336
Change in nonmarketable equity securities (72) (45) (6)
Proceeds from sale of foreclosed assets 0 518 47
Net cash used in investing activities (119,614) (108,070) (37,573)
Financing Activities      
Net change in deposits 148,031 81,580 50,072
Repayment of borrowed funds 0 0 (5,600)
Cash distributions (7,803) (1,006) (56,155)
Capital injection 0 0 137
Common stock acquired and canceled (9,076) (2,646) 0
Net change in common stock 0 0 50,154
Net cash provided by (used in) financing activities 131,152 77,928 38,608
Increase (Decrease) in Cash and Due from Banks 36,773 (10,962) 28,036
Cash and Due from Banks, Beginning of Period 117,128 128,090 100,054
Cash and Due from Banks, End of Period 153,901 117,128 128,090
Supplemental Disclosure of Cash Flows Information      
Interest paid 6,502 9,342 7,304
Income taxes paid 7,731 6,779 0
Dividends declared and not paid 994 5,029 0
Non-cash stock contribution 0 11,627 0
Supplemental Disclosure of Non-Cash Investing Activities      
Foreclosed assets acquired in settlement of loans $ 0 $ 78 $ 50