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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,740 $ 8,463
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 250 650
Depreciation and amortization 262 286
Amortization and accretion of loans and other assets (588) (1,344)
Amortization and accretion of investment securities 560 503
Deferred income taxes (115) 74
Investment securities losses (gains), net 45 (237)
Earnings on bank owned life insurance (207) (1,315)
Vesting of restricted stock 4 0
Originations of loans held for sale (1,386) (14,206)
Proceeds from sales of loans held for sale 5,359 19,253
Realized gains on loans sold (105) (503)
(Increase) decrease in accrued interest receivable (179) 426
Gain on sale of other real estate (487) 0
Increase (decrease) in accrued interest payable 3 (104)
Other, net 1,887 2,019
Net cash provided by operating activities 12,043 13,965
Available-for-sale securities:    
Proceeds from sales 0 5,045
Proceeds from maturity and principal repayments 9,135 17,826
Purchase of securities (79,970) (54,248)
Purchase of interest bearing time deposits with other banks (496) 0
Proceeds from life insurance 0 3,714
Proceeds from matured interest bearing time deposits with other banks 994 249
Proceeds from redemption of regulatory stock 1,217 1,179
Purchase of regulatory stock (1,004) (1,013)
Net (increase) decrease in loans (36,470) 2,461
Purchase of premises and equipment (58) (785)
Proceeds from sale of other real estate 598 116
Net cash used in investing activities (106,054) (25,456)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 42,939 98,612
Repayments of long-term borrowings (4,725) (2,000)
Net decrease in short-term borrowed funds (1,040) (667)
Purchase of treasury and restricted stock (8) (513)
Dividends paid (1,874) (1,820)
Net cash provided by financing activities 35,292 93,612
Net (decrease) increase in cash and cash equivalents (58,719) 82,121
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 172,833 68,707
CASH AND CASH EQUIVALENTS AT END OF PERIOD 114,115 150,828
Supplemental Disclosures of Cash Flow Information:    
Interest paid 1,550 1,958
Income taxes paid 0 0
Loans transferred to foreclosed real estate 61 0
Right of use asset and liability $ 0 $ 211