XML 33 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES:    
Interest received $ 15,968 $ 15,323
Fees received 4,113 4,424
Interest paid (2,248) (2,999)
Cash paid to employees and vendors (11,362) (12,685)
Income taxes paid (103)  
Proceeds from sale of loans held for sale 3,739 2,071
Originations of loans held for sale (3,335) (2,045)
Net cash provided by operating activities 6,772 4,089
INVESTING ACTIVITIES:    
Available for sales securities: Purchases (46,322) (10,568)
Available for sales securities: Proceeds from sales, maturities, calls, and payments 17,430 5,523
Held to maturity securities: Purchases (511) (224)
Held to maturity securities: Proceeds from maturities, calls, and payments 50 10
Cash paid for bank-owned life insurance   (360)
Additions to properties and equipment (491) (426)
Purchase of tax credit investment (3,116) (19)
Insurance agency acquisition (683)  
Net increase in loans (20,449) (29,454)
Net cash used in investing activities (54,092) (35,518)
FINANCING ACTIVITIES:    
Proceeds (repayments) from short-term borrowings, net 147 (660)
Net increase in deposits 60,157 60,665
Issuance of common stock 127 25
Net cash provided by financing activities 60,431 60,030
Net increase in cash and cash equivalents 13,111 28,601
CASH AND CASH EQUIVALENTS:    
Beginning of period 38,857 39,915
End of period 51,968 68,516
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES:    
Net income 204 3,720
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 538 505
Deferred tax (benefit) expense (1,001) 12
Provision for loan losses 2,999 538
Loss on tax credit investment 2,475 148
Changes in refundable state historic tax credit (1,857) 17
Gain on loans sold (51) (26)
Stock compensation expense 257 201
Proceeds from sale of loans held for sale 3,739 2,071
Originations of loans held for sale (3,335) (2,045)
Changes in assets and liabilities affecting cash flow:    
Other assets (225) (4,528)
Other liabilities 3,029 3,476
NET CASH PROVIDED BY OPERATING ACTIVITIES $ 6,772 $ 4,089