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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash Flows From Operating Activities:      
Net income $ 8,258 $ 7,071  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 2,912 2,978  
Gains on sales of securities 0 (48)  
Stock-based compensation expense 1,090 693  
Provision for (release of) credit losses 230 (600)  
Increase in current income tax liability 1,911 1,355  
(Decrease) increase in pension liability (640) 336  
Increase in accounts receivable (726) (237)  
Other operating activities, net 1,688 5,156  
Net cash provided by operating activities 14,723 16,704  
Cash Flows From Investing Activities:      
Proceeds from sales of securities available-for-sale 0 2,991  
Proceeds from maturities of securities available-for-sale 16,194 47,113  
Purchase of securities available-for-sale (156,597) (125,467)  
Net (increase) decrease in loans (16,500) 3,478  
Purchase of bank-owned life insurance (3,987) 0  
Increase in payments in advance of funding (38,195) (21,912)  
Purchases of premises and equipment, net (2,002) (900)  
Net cash used in investing activities (201,087) (94,697)  
Cash Flows From Financing Activities:      
Net increase (decrease) in noninterest-bearing demand deposits 39,177 (68,645)  
Net (decrease) increase in interest-bearing demand and savings deposits (80,002) 21,373  
Net decrease in time deposits (3,743) (449)  
Net (decrease) increase in accounts and drafts payable (83,054) 60,905  
Cash dividends paid (3,832) (3,886)  
Purchase of common shares for treasury (5,086) (1,228)  
Other financing activities, net (575) (946)  
Net cash (used in) provided by financing activities (137,115) 7,124  
Net decrease in cash and cash equivalents (323,479) (70,869)  
Cash and cash equivalents at beginning of period 514,928 670,528 $ 670,528
Cash and cash equivalents at end of period 191,449 599,659 $ 514,928
Supplemental information:      
Cash paid for interest 216 311  
Cash paid for income taxes $ 109 $ 134