XML 21 R8.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 14,447 $ 13,519
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,150 1,300
Depreciation and amortization 357 301
Amortization and accretion on investment securities 129 813
Deferred income taxes 420 (260)
Investments securities (gains) losses, net (78) 1
Earnings on bank owned life insurance (463) (467)
Originations of loans held for sale (15,261) (14,709)
Proceeds from sales of loans held for sale 15,183 15,374
Realized gains on loans sold (339) (302)
Increase in accrued interest receivable (24) (284)
Increase (decrease) in accrued interest payable (24) 82
Other, net 439 (435)
Net cash provided by operating activities 15,936 14,933
Available-for-sale securities:    
Proceeds from sales 5,508 25,168
Proceeds from maturity and principal repayments 51,028 41,027
Purchase of securities (59,788) (56,289)
Purchase of equity securities (64) (191)
Purchase of interest bearing time deposits with other banks (248) (5,713)
Proceeds from sale of interest bearing time deposits with other banks 0 1,239
Proceeds from matured interest bearing time deposits with other banks 1,490 0
Proceeds from redemption of regulatory stock 7,784 7,874
Purchase of regulatory stock (9,127) (6,751)
Net increase in loans (36,653) (59,646)
Purchase of premises and equipment (225) (228)
Proceeds from sale of premises and equipment 7 0
Proceeds from sale of foreclosed assets held for sale 813 899
Net cash used in investing activities (39,475) (52,611)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 14,148 69,900
Proceeds from long-term borrowings 10,000 7
Repayments of long-term borrowings (3,123) (1,000)
Net (decrease) increase in short-term borrowed funds 11,769 (27,574)
Purchase of treasury and restricted stock (1,236) (1,098)
Dividends paid (4,730) (4,574)
Net cash provided by financing activities 26,828 35,661
Net (decrease) increase in cash and cash equivalents 3,289 (2,017)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 16,797 18,517
CASH AND CASH EQUIVALENTS AT END OF PERIOD 20,086 16,500
Supplemental Disclosures of Cash Flow Information:    
Interest paid 9,267 6,647
Income taxes paid 2,450 1,900
Non-cash Transactions [Abstract]    
Loans transferred to foreclosed property 3,728 381
Right of use asset and liability $ 1,454 $ 0