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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities    
Net income $ 10,648 $ 7,072
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,567 1,216
Provision for loan losses 775 450
Deferred income tax provision (benefit) 438 (508)
Net amortization of premiums on investment securities 490 390
Equity in losses of limited partnerships 745 591
Stock based compensation expense 165 120
Net increase in unamortized loan costs (105) (143)
Proceeds from sales of loans held for sale 161,162 118,557
Origination of loans held for sale (162,810) (111,662)
Net gains on sales of loans held for sale (2,895) (1,847)
Net gain on disposals of premises and equipment 0 (168)
Net gains on sales of investment securities available-for-sale (25) (10)
Net gain on sales of other real estate owned 0 (11)
Increase in accrued interest receivable (122) (312)
Amortization of core deposit intangible 171 171
Increase in other assets (110) (685)
Contribution to defined benefit pension plan 0 (850)
Pension plan termination expense 0 4,631
Increase (decrease) in other liabilities 1,682 (241)
Net cash provided by operating activities 11,776 16,761
Interest bearing deposits in banks    
Proceeds from maturities and redemptions 2,984 3,784
Purchases (249) (3,732)
Investment securities held-to-maturity    
Proceeds from maturities, calls and paydowns 0 1,000
Investment securities available-for-sale    
Proceeds from sales 10,335 1,060
Proceeds from maturities, calls and paydowns 11,485 5,593
Purchases (33,730) (16,434)
Proceeds from sales of other investments 46 44
Purchases of other investments (180) (79)
Net increase in nonmarketable stock (231) (46)
Net increase in loans (28,185) (56,003)
Recoveries of loans charged off 10 38
Purchases of premises and equipment (6,417) (3,070)
Investments in limited partnerships (1,929) (694)
Purchase of Company-owned life insurance (3,000) 0
Proceeds of Company-owned life insurance death benefit 0 307
Proceeds from sales of other real estate owned 0 47
Proceeds from sales of premises and equipment 0 204
Net cash used in investing activities (49,061) (67,981)
Cash Flows From Financing Activities    
Advances on long-term borrowings 0 7,000
Repayment of long-term debt (20,287) (19,765)
Net increase in short-term borrowings outstanding 39,630 9,005
Net increase in noninterest bearing deposits 3,463 5,147
Net increase in interest bearing deposits 14,218 26,101
Net increase in time deposits 19,576 27,948
Issuance of common stock 44 0
Purchase of treasury stock (13) (107)
Dividends paid (5,501) (5,328)
Net cash provided by financing activities 51,130 50,001
Net increase (decrease) in cash and cash equivalents 13,845 (1,219)
Cash and cash equivalents    
Beginning of year 37,289 38,508
End of year 51,134 37,289
Supplemental Disclosures of Cash Flow Information    
Interest paid 5,146 3,476
Income taxes paid 800 1,550
Supplemental Schedule of Noncash Investing and Financing Activities    
Investment in limited partnerships acquired by capital contributions payable 493 1,321
Right-of-use operating lease assets obtained in exchange for operating lease liabilities 2,002 0
Dividends paid on Common Stock    
Dividends declared 5,540 5,358
Dividends reinvested (39) (30)
Dividends paid on Common Stock $ 5,501 $ 5,328