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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 9,059 $ 4,763
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 0 4,150
Provision for unfunded commitments 0 105
Provision for depreciation and amortization 741 598
Amortization of core deposit intangible 383 383
Amortization of debt issuance costs 0 24
Compensation expense associated with restricted stock 259 211
Net gain on sale or call of securities (71) (224)
Amortization of premiums and accretion of discounts on investment securities, net 1,417 636
Amortization of premiums and accretion of discounts on acquired loans, net (425) (711)
Loss on disposal of fixed assets 0 132
Write-down of other real estate owned 8 0
Loss on sale of OREO 0 23
Increase in cash surrender value of life insurance (244) (271)
Deferred compensation and salary continuation plan payments (410) (439)
Increase in deferred compensation and salary continuation plans 389 426
(Decrease) increase in deferred loan fees and costs (322) 3,765
Decrease (increase) in other assets 1,768 (1,923)
(Decrease) increase in other liabilities (405) 1,022
Net cash provided by operating activities 12,147 12,670
Cash flows from investing activities:    
Proceeds from maturities of and payments on available-for-sale investment securities 49,862 37,121
Proceeds from sale of available-for-sale investment securities 39,066 49,761
Purchases of available-for-sale investment securities (227,577) (73,692)
Investment in low income housing tax credit partnerships (374) (7)
Net purchase of FHLB stock (84) 0
Loan principal repayments, net of (originations) 38,962 (182,677)
Net repayment on loan pools 10,734 9,651
Purchase of premises and equipment (334) (303)
Proceeds from the sale of OREO 0 12
Net cash used in investing activities (89,745) (160,134)
Cash flows from financing activities:    
Net increase in demand, money market and savings deposits 153,340 241,275
Net increase (decrease) in certificates of deposit 1,219 (14,139)
Advances on term debt 0 50,000
Repayment of term debt (5,000) (40,000)
Proceeds from stock options exercised 278 0
Repurchase of common stock 0 (12,653)
Cash paid for restricted shares surrendered for tax-withholding purposes (103) (120)
Cash dividends paid on common stock (2,004) (1,741)
Net cash provided by financing activities 147,730 222,622
Net increase in cash and cash equivalents 70,132 75,158
Cash and cash equivalents at beginning of year 106,986 80,604
Cash and cash equivalents at end of period 177,118 155,762
Cash paid during the period for:    
Income taxes 3,330 1,008
Interest 1,592 2,593
Operating leases 488 480
Supplemental disclosures of non-cash investing activities:    
Transfer of loans to other real estate owned 0 8
Investment in low income housing tax credit partnerships 0 1,000
Unrealized (loss) gain on investment securities available-for-sale, net of gains included in net income (4,329) 6,454
Changes in net deferred tax asset related to changes in net unrealized gain on investment securities available-for-sale 1,280 (1,907)
Changes in accumulated other comprehensive income due to net unrealized (loss) gain on investment securities available-for-sale (3,049) 4,547
Supplemental disclosures of non-cash financing activities:    
Cash dividend declared on common shares and payable after period-end $ 1,005 $ 833