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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net income $ 13,841 $ 13,129
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 5,401 1,320
Depreciation 3,301 3,115
Stock compensation 345 268
Gains on sales of other real estate owned (130) (160)
Write-downs of other real estate owned 116 1,459
Origination of loans held for sale (73,797) (20,668)
Proceeds from sales of loans held for sale 74,403 19,502
Gains on sales of loans held for sale (2,403) (337)
Loss on disposal of fixed assets 150 3
Net amortization/(accretion) of investment securities discounts and premiums- AFS 382 (3)
Net amortization of investment securities discounts and premiums- HTM 352 114
Net gain on sales of investment securities – available-for-sale (632)  
Net losses on calls of investment securities – held to maturity 97  
Amortization of deferred loan fees (2,683) (935)
Deferred tax expense 527 953
Earnings on bank owned life insurance (1,253) (2,257)
Amortization of operating lease right of use asset 253 277
Operating lease liability (281) (287)
Increase in accrued interest receivable and other assets (6,830) (3)
Increase in accrued interest payable and other liabilities 5,010 900
Net cash provided by operating activities 16,169 16,390
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 45,595 26,553
Proceeds from maturities/calls of investment securities held-to-maturity 46,926 8,124
Proceeds from sales of investment securities available-for-sale 43,278 21,872
Purchases of investment securities available-for-sale (184,079) (39,307)
Purchases of investment securities held-to-maturity (21,658) (8,207)
Proceeds from sales of other real estate owned 2,175 2,777
Proceeds from BOLI 728 2,125
Net (increase)/decrease in FHLB stock (53) 979
Net increase in loans (122,589) (43,465)
Purchases of premises and equipment (1,604) (3,973)
Net cash used in investing activities (191,281) (32,522)
Financing activities    
Net increase in deposits 280,335 74,504
Proceeds from issuance of common stock 198 170
Cash dividends on common stock (3,646) (3,125)
Net increase/(decrease) in short-term borrowings 432 (28,979)
Stock repurchase (2,754)  
Net cash provided by financing activities 274,565 42,570
Increase in cash and cash equivalents 99,453 26,438
Cash and cash equivalents at beginning of the year 49,979 23,541
Cash and cash equivalents at end of period 149,432 49,979
Supplemental information    
Interest paid 9,763 11,485
Taxes paid 1,210 1,011
Non-cash investing activities:    
Transfers from loans to other real estate owned $ 7,420 1,605
Initial recognition of operating lease right of use assets at adoption   2,730
Initial recognition of operating lease liabilities at adoption   $ 3,317