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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income $ 11,209 $ 10,087
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 518 541
Provision for loan losses 2,575 2,050
Gain on sales of loans (92) (77)
Stock-based compensation expense 473 371
Gain on sale of premises and equipment (11) 0
Cash receipts from the sale of loans originated for sale 6,319 3,951
Cash disbursements for loans originated for sale (7,237) (3,343)
Deferred income tax benefit (860) (307)
Changes in    
Interest receivable and other assets 778 (1,153)
Interest payable and other liabilities 3,635 3,558
Net cash provided by operating activities 17,307 15,678
Investing Activities    
Maturities of interest-bearing time deposits in other banks 10,934 16,709
Purchases of interest-bearing time deposits in other banks 0 (14,427)
Net change in loans (95,288) (130,657)
Purchases of premises and equipment (169) (333)
Proceeds from sale of premises and equipment 17 0
Change in nonmarketable equity securities (15) 5
Net cash used in investing activities (84,521) (128,703)
Financing Activities    
Net change in deposits 103,035 136,748
Cash distributions (1,990) (5,955)
Common stock acquired and canceled 0 (7,116)
Net cash provided by financing activities 101,045 123,677
Increase in Cash and Due from Banks 33,831 10,652
Cash and Due from Banks, Beginning of Period 153,901 117,128
Cash and Due from Banks, End of Period 187,732 127,780
Supplemental Disclosure of Cash Flows Information    
Interest paid 1,745 3,914
Income taxes paid 1,903 0
Dividends declared and not paid $ 995 $ 923