XML 17 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Operating activities      
Net income $ 5,715 $ 3,430  
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision/(credit) for loan losses (419) 110  
Depreciation 820 819  
Stock based compensation (4) 50  
Gains on sales of other real estate owned   (491)  
Write-downs of other real estate owned 4  
Originations of loans held for sale (963) (12,702)  
Proceeds from sale of loans held for sale 911 15,406  
Gains from sale of loans held for sale (21) (588)  
Gains on disposal of fixed assets (28)    
Net amortization of investment securities discounts and premiums- AFS 83 317  
Net (accretion)/amortization of investment securities discounts and premiums- HTM (165) 61  
Amortization of intangible assets 52    
Gains on sales/calls of investment securities - AFS (3)    
Earnings on Bank owned life insurance (292) (286)  
Amortization of deferred loan fees (113) (776)  
Amortization of operating lease right of use asset 86 (87)  
Increase in accrued interest receivable and other assets 105 947  
Deferred tax (benefit)/expense 549 (209)  
Operating lease liability (95) 77  
(Decrease)/increase in accrued interest payable and other liabilities (3,143) 1,811  
Net cash provided by operating activities 3,075 7,893  
Investing activities      
Proceeds from maturities/calls of investment securities - AFS 5,063 20,793  
Proceeds from maturities/calls of investment securities - HTM 3,260 5,176  
Proceeds from sales of investment securities - AFS 1,023    
Purchases of investment securities - AFS (12,892) (5,010)  
Purchases of investment securities - HTM (49,456) (6,332)  
Proceeds from sales of other real estate owned   2,339  
Proceeds from disposal of fixed assets 30    
Net decrease in restricted stock 3 814  
Net increase in loans (28,030) (29,180)  
Purchases of premises and equipment (126) (235)  
Net cash used in investing activities (81,125) (11,635)  
Financing activities      
Net increase in deposits 38,181 45,897  
Issuance of common stock 55 46  
Cash dividends on common stock (993) (910)  
Net increase in short-term borrowings 1,203 2,294  
Net cash provided by financing activities 38,446 47,327  
(Decrease)/increase in cash and cash equivalents (39,604) 43,585  
Cash and cash equivalents at beginning of the year 115,720 149,432 $ 149,432
Cash and cash equivalents at end of period 76,116 193,017 $ 115,720
Supplemental information      
Interest paid 840 2,581  
Taxes paid 2,568 $ 88  
Non-cash investing activities:      
Transfers from securities available for sale to held to maturity $ 139,036