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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 16,492 $ 12,083 $ 12,357
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,828 2,035 1,832
Provision for loan losses 458 1,250 1,300
Net gain on investment debt and equity securities (1,806) (609) (1,755)
Net unrealized (gain) loss on equity securities (926) 47 (770)
Net gain on sale of other real estate owned, repossessed assets and premises and equipment     (51)
Net gain on sale of loans (595) (1,724) (195)
Proceeds from sales of residential mortgages held-for-sale 16,773 35,605 7,324
Origination of residential mortgages held-for-sale (4,892) (39,474) (8,106)
Income on bank-owned life insurance (497) (294) (292)
Stock-based compensation expense 102 112 118
Deferred income tax (benefit) provision 113 (59) 319
Net (decrease) increase in income taxes payable (78) 215 (29)
Net decrease (increase) in accrued interest receivable 721 (1,997) 24
Amortization of mortgage servicing rights and change in valuation allowance 118 157 65
Net amortization of premiums and discounts on investment securities 3,152 2,473 1,501
Net (decrease) increase in accrued interest payable (139) (559) 460
Operating lease payments (631) (654) (583)
(Increase) decrease in other assets (507) 525 423
Increase (decrease) in other liabilities 703 (1,531) (44)
Net cash provided by operating activities 30,389 7,601 13,898
Investing Activities      
Proceeds from payments, maturities and calls of investment debt securities available-for-sale 113,911 207,245 68,174
Proceeds from the sale of investment securities available-for-sale 282 6,930 47,851
Purchases of investment securities available-for-sale (385,926) (295,734) (113,688)
Proceeds from the sale of equity securities 7,768 4,767 11,838
Purchases of equity securities (4,615) (7,914) (9,030)
Proceeds from redemption of investment in restricted bank stock 573 1,495 9,675
Purchase of restricted bank stock (861) (1,463) (9,951)
Net increase in loans (11,244) (99,737) (35,415)
Net purchases of premises and equipment (3,175) (722) (3,086)
Redemption of Bank Owned Life Insurance investment 797    
Proceeds from sales of other real estate owned and repossessed assets     58
Net cash used in investing activities (282,490) (185,133) (33,574)
Financing Activities      
Net increase in non-interest bearing deposits 38,422 58,314 17,655
Net increase in interest-bearing deposits 183,256 131,893 4,607
Net increase in short-term borrowings 9,638 2,907 5,059
Issuance of long-term debt   10,000  
Treasury stock purchase (1,356) (130)  
Cash dividends paid, net of reinvestment (4,375) (4,226) (4,086)
Proceeds from issuance of common stock 575 497 591
Net cash provided by financing activities 226,160 199,255 23,826
(Decrease) increase in cash and cash equivalents (25,941) 21,723 4,150
Cash and cash equivalents at beginning of year 39,331 17,608 13,458
Cash and cash equivalents at end of period 13,390 39,331 17,608
Supplemental Cash Flow Disclosures      
Interest paid 4,782 7,004 9,664
Income taxes paid, net of refunds received 3,925 2,406 2,560
Non-cash transactions:      
Right-of-use assets obtained in exchange for new operating lease liabilities $ 698 $ 1,086 $ 2,407