XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net earnings $ 3,462 $ 4,850
Adjustments to reconcile net earnings to net cash provided by operating activties:    
Provision for loan losses 850 0
Depreciation and amortization 989 448
Premium amortization and discount accretion, net 1,081 886
Net gain on securities available for sale (87) (13)
Net gain on sale of loans held for sale (847) (188)
Net gain on other real estate owned (17) 0
Loans originated for sale (36,385) (11,312)
Proceeds from sale of loans 36,576 9,786
Increase in cash surrender value of bank owned life insurance (224) (217)
Income recognized on death benefit of life insurance (282) 0
Net (increase) decrease in other assets (1,014) (900)
Net (decrease) increase in accrued expenses and other liabilities (334) 983
Net cash provided by operating activities 3,768 4,323
Cash flows from investing activities:    
Proceeds from sales of securities available-for-sale 9,062 7,662
Proceeds from prepayments and maturities of securities available-for-sale 22,085 22,222
Purchase of securities available-for-sale (91,318) (33,839)
Decrease in loans, net (3,400) 826
Net purchases of premises and equipment (372) (1,459)
Proceeds from bank-owned life insurance death benefit (694) 0
(Increase) decrease in FHLB stock (9) 32
Proceeds from sale of other real estate owned 116 0
Net cash (used in) provided by investing activities (63,142) (4,556)
Cash flows from financing activities:    
Net increase in noninterest-bearing deposits 51,211 5,223
Net increase in interest-bearing deposits 54,447 11,085
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase 926 (1,200)
Stock repurchases 0 (2,497)
Proceeds from sale of treasury stock 1 5
Dividends paid (1,819) (1,791)
Net cash provided by financing activities 104,766 10,825
Net change in cash and cash equivalents 45,392 10,592
Cash and cash equivalents at beginning of period 92,443 65,076
Cash and cash equivalents at end of period 137,835 75,668
Cash paid during the period for:    
Interest 2,023 2,029
Income taxes 678 1,499
Supplemental disclosure of non-cash transactions:    
Initial recognition of operating lease right of use assets 0 891
Initial recognition of operating lease liabilities 0 889
Real estate acquired through foreclosure $ 99 $ 82