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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities    
Net income $ 2,748 $ 3,877
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 4,100 500
Depreciation and amortization 403 415
Net losses (gains) on the sale of OREO 3 (10)
Gains on sales of investment securities (329) 0
Unrealized gains on equity securities (75) (56)
Net amortization of premium/discount on investment securities (29) (44)
Net accretion of merger accounting adjustments (222) (168)
Amortization of core deposit intangible 157 181
Net change in right of use assets and lease liabilities 27 37
Increase in OREO valuation allowance 732 61
Increase in cash surrender value of bank owned life insurance (219) (218)
Increase in deferred income tax benefit (796) (61)
Increase in accrued interest receivable (58) (374)
Stock based compensation 76 77
Net change due to deficit of fair market value over cost of leveraged ESOP shares released (4) (3)
Increase in net deferred loan costs (181) (78)
Increase in accrued expenses and other liabilities (1,325) (1,479)
Decrease in other assets 2,977 1,027
Net Cash Provided by Operating Activities 7,985 3,684
Cash Flows from Investing Activities    
Purchase of AFS investment securities 53,919 9,602
Proceeds from redemption or principal payments of AFS investment securities 8,572 3,124
Purchase of HTM investment securities 0 (3,239)
Proceeds from maturities or principal payments of HTM investment securities 0 3,982
Proceeds from sale of AFS investment securities 41,902 0
Net increase of FHLB stock (2,179) (52)
Loans originated or acquired (127,665) (104,723)
Principal collected on loans 91,990 85,072
Purchase of premises and equipment (46) (415)
Proceeds from sale of OREO 700 46
Net Cash Used in Investing Activities (40,645) (25,807)
Net Cash Provided by (Used in) Financing Activities [Abstract]    
Net increase in deposits 752 9,539
Proceeds from long-term debt 27,000 0
Payments of long-term debt (17) (17)
Net increase in short term borrowings 22,000 0
Payments of subordinated notes (23,000) 0
Dividends paid (702) (671)
Net change in unearned ESOP shares 0 (39)
Repurchase of common stock 0 (17)
Net Cash Provided by Financing Activities 26,033 8,795
Decrease in Cash and Cash Equivalents (6,627) (13,328)
Cash and Cash Equivalents - January 1 32,469 33,036
Cash and Cash Equivalents - March 31 25,842 19,708
Cash Paid During the Period [Abstract]    
Interest 4,331 5,056
Supplemental Schedule of Non Cash Operating Activities    
Issuance of common stock for payment of compensation 303 107
Transfer from loans to OREO 0 3,215
Financed amount of sale of OREO $ 0 $ 280