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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities    
Net Income $ 4,864 $ 5,151
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation 943 699
Provision for loan losses 800 200
Deferred income tax provision (benefit) 6 (26)
Net amortization of premiums on investment securities 245 173
Equity in losses of limited partnerships 376 323
Stock based compensation expense 151 90
Net decrease (increase) in unamortized loan costs 1,864 (46)
Proceeds from sales of loans held for sale 99,950 57,710
Origination of loans held for sale (134,019) (62,737)
Net gains on sales of loans held for sale (2,039) (1,057)
Net gains on sales of investment securities available-for-sale (11) (8)
Net gain on other investments (38) (81)
(Increase) decrease in accrued interest receivable (713) 330
Amortization of core deposit intangible 86 86
Increase in other assets (45) (248)
Increase in other liabilities 526 1,600
Net cash (used in) provided by operating activities (27,054) 2,159
Interest bearing deposits in banks    
Proceeds from maturities and redemptions 498 2,238
Purchases (3,735) (249)
Investment securities available-for-sale    
Proceeds from sales 3,076 8,785
Proceeds from maturities, calls and paydowns 8,695 3,446
Purchases (7,851) (16,733)
Net (purchases) sales of other investments (63) 20
Net decrease (increase) in nonmarketable stock 1,457 (204)
Net (increase) decrease in loans (22,471) 36,698
Recoveries of loans charged off 23 10
Purchases of premises and equipment (399) (4,399)
Investments in limited partnerships (1,658) (1,220)
Net cash (used in) provided by investing activities (22,428) 28,392
Cash Flows From Financing Activities    
Repayment of long-term debt 0 (10,070)
Net (decrease) increase in short-term borrowings outstanding (37,667) 24,630
Net increase (decrease) in noninterest bearing deposits 52,307 (4,961)
Net increase (decrease) in interest bearing deposits 25,556 (79,077)
Net (decrease) increase in time deposits (2,398) 30,068
Issuance of common stock 22 22
Purchase of treasury stock 0 (13)
Dividends paid (2,844) (2,750)
Net cash provided by (used in) financing activities 34,976 (42,151)
Net decrease in cash and cash equivalents (14,506) (11,600)
Cash and cash equivalents    
Beginning of period 51,134 37,289
End of period 36,628 25,689
Supplemental Disclosures of Cash Flow Information    
Interest Paid 3,326 2,559
Income taxes paid 0 250
Supplemental Schedule of Noncash Investing Activities    
Investment in limited partnerships acquired by capital contributions payable 2,722 1,203
Right-of-use operating lease assets obtained in exchange for operating lease liabilities 0 2,002
Dividends paid on Common Stock:    
Dividends declared 2,863 2,770
Dividends reinvested (19) (20)
Dividends paid $ 2,844 $ 2,750