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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 7 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Mar. 31, 2019
Apr. 30, 2020
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:                  
Net income $ 4,329 $ 916 $ 4,369 $ 4,642 $ 2,306   $ 9,092 $ 10,592  
Adjustments to reconcile net income to net cash provided by operating activities:                  
Provision for loan and lease losses 1,100     0     5,250 0  
Provision for unfunded commitments             105 0  
Provision for depreciation and amortization             894 1,055  
Amortization of core deposit intangible             574 529  
Amortization of debt issuance costs             36 36  
Compensation expense associated with restricted stock             334 306  
Tax benefits from vesting of restricted stock             (2) (6)  
Net gain on sale or call of securities (258)     (12)     (482) (137)  
Amortization of premiums and accretion of discounts on investments, net             1,056 1,052  
Amortization of premiums and accretion of discounts on acquired loans, net             (1,104) (1,201)  
Loss on disposal of fixed assets             132 0  
Loss (gain) on sale of OREO 0     0     23 (41)  
Increase in cash surrender value of life insurance             (396) (410)  
Deferred compensation and salary continuation plan payments             (633) (1,072)  
Increase in deferred compensation and salary continuation plans             634 731  
Increase (decrease) in deferred loan fees and costs             3,199 (53)  
(Increase) decrease in other assets             (1,759) 1,516  
Increase in other liabilities             1,369 513  
Net cash provided by operating activities             18,322 13,410  
Cash flows from investing activities:                  
Proceeds from maturities of and payments on available-for-sale securities             61,114 47,544  
Proceeds from sale of available-for-sale securities             56,017 99,635  
Purchases of available-for-sale securities             (160,759) (48,648)  
Investment in qualified affordable housing partnerships             (13) 0  
Net purchase of Federal Home Loan Bank of San Francisco stock             0 (34)  
Loan originations, net of principal repayments             (186,305) (27,697)  
Net repayment on loan pools             13,631 27,265  
Purchase of premises and equipment             (353) (1,823)  
Proceeds from the sale of OREO             12 87  
Acquisition of Merchants Holding Company, net of cash paid             0 (2,875)  
Net cash (used) provided by investing activities             (216,656) 93,454  
Cash flows from financing activities:                  
Net increase (decrease) in demand, money market and savings deposits             261,846 (25,029)  
Net decrease in certificates of deposit             (10,886) (34,764)  
Advances on term debt             50,000 180,160  
Repayment of term debt             (40,000) (183,656)  
Proceeds from stock options exercised             0 40  
Repurchase of common stock           $ (13,600) (12,653) 0  
Cash paid for shares surrendered for tax-withholding purposes             (120) (94)  
Cash dividends paid on common stock             (2,574) (2,282)  
Net cash provided (used) by financing activities             245,613 (65,625)  
Net increase in cash and cash equivalents             47,279 41,239  
Cash and cash equivalents at beginning of year   $ 80,604 88,604   47,365 $ 88,604 80,604 47,365 $ 47,365
Cash and cash equivalents at end of period 127,883   $ 80,604 88,604     127,883 88,604 $ 80,604
Cash paid during the period for:                  
Income taxes             2,398 3,480  
Interest             3,509 4,336  
Operating leases 234     229     714 661  
Supplemental disclosures of non-cash investing activities:                  
Transfer of loans to other real estate owned             8 74  
Investment in qualified affordable housing partnership             1,000 0  
Unrealized gain on investment securities available-for-sale, net of gains included in net income             6,705 7,588  
Changes in net deferred tax asset related to changes in net unrealized gain on investment securities available-for-sale             (1,982) (2,243)  
Changes in accumulated other comprehensive income due to net unrealized gain on investment securities available-for-sale             4,723 5,345  
Supplemental disclosures of non-cash financing activities:                  
Stock compensation grants         $ 58   0 58  
Cash dividend declared on common shares and payable after period-end $ 833     $ 905     833 905  
Right-of-use lease asset recorded on new leases             0 267  
Right-of-use lease asset recorded on adoption of ASU No. 2016-02             0 3,998  
Lease liability recorded on adoption of ASU No. 2016-02             0 4,363  
Disclosures related to the acquisition of Merchants Holding Company:                  
Consideration paid             0 34,907  
Assets acquired - fair value             0 215,055  
Goodwill             0 11,006  
Liabilities assumed - fair value             $ 0 $ 191,154