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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Operating activities              
Net income $ 5,428 $ 5,715 $ 4,403 $ 3,430 $ 11,143 $ 7,833  
Adjustments to reconcile net income to net cash provided by operating activities:              
Provision for loan losses 624   555   205 665  
Depreciation         1,645 1,632  
Stock based compensation         336 402  
Gains on sales of other real estate owned     (105)     (596)  
Write-downs of other real estate owned   (164)   (160)  
Originations of loans held for sale         (1,043) (20,744)  
Proceeds from sale of loans held for sale         1,138 23,707  
Gains from sale of loans held for sale         (28) (860)  
Gains on disposal of fixed assets (6)   (16)   (34) (16)  
Net amortization of investment securities discounts and premiums- AFS         100 516  
Net (accretion)/amortization of investment securities discounts and premiums- HTM         (405) 168  
Amortization of intangible assets         105    
Gains on sales/calls of investment securities - AFS     (154)   (3) (154)  
Earnings on Bank owned life insurance         (589) (579)  
Amortization of deferred loan fees         (123) (1,979)  
Amortization of operating lease right of use asset         172 (6)  
Increase in accrued interest receivable and other assets         1,300 (502)  
Deferred tax benefit         (6,796) (22)  
Operating lease liability         (191) (13)  
Increase/(decrease) in accrued interest payable and other liabilities         3,527 (2,670)  
Net cash provided by operating activities         10,459 6,622  
Investing activities              
Proceeds from maturities/calls of investment securities - AFS         9,583 27,285  
Proceeds from maturities/calls of investment securities - HTM         7,571 8,744  
Proceeds from sales of investment securities - AFS         1,023 13,687  
Purchases of investment securities - AFS         (12,892) (58,516)  
Purchases of investment securities - HTM         (52,459) (6,332)  
Proceeds from sales of other real estate owned           3,386  
Proceeds from disposal of fixed assets         37    
Net decrease in restricted stock         3 810  
Net (increase)/decrease in loans         (80,454) 45,193  
Purchases of loans           (20,100)  
Purchases of premises and equipment         (2,256) (741)  
Net cash (used in)/provided by investing activities         (129,844) 13,416  
Financing activities              
Net increase in deposits         14,980 33,745  
Issuance of common stock         109 46  
Cash dividends on common stock         (1,988) (1,906)  
Net increase in short-term borrowings         12,215 246  
Stock repurchase           (7,179)  
Net cash provided by financing activities         25,316 24,952  
(Decrease)/increase in cash and cash equivalents         (94,069) 44,990  
Cash and cash equivalents at beginning of the year   $ 115,720   $ 149,432 115,720 149,432 $ 149,432
Cash and cash equivalents at end of period $ 21,651   $ 194,422   21,651 194,422 $ 115,720
Supplemental information              
Interest paid         1,667 3,561  
Taxes paid         3,758 $ 3,487  
Non-cash investing activities:              
Transfers from loans to other real estate owned         40    
Transfers from securities available for sale to held to maturity         $ 139,036