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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 16,498,000 $ 18,302,000
Adjustments to reconcile net income to net cash from operating activities    
Depreciation 1,522,000 1,624,000
Provision for loan losses 2,355,000 1,315,000
Amortization, net of accretion 1,439,000 89,000
Writedowns of other real estate owned, net 268,000 176,000
Stock compensation expense 253,000 256,000
Changes in:    
Interest receivable (1,963,000) (120,000)
Other assets (201,000) (1,158,000)
Interest payable (402,000) 114,000
Other liabilities (185,000) 812,000
Net cash from operating activities 19,584,000 21,410,000
Cash flows from investing activities    
Net change in bank owned CD's 0 496,000
Purchases of securities available for sale (155,116,000) (39,961,000)
Proceeds from maturities and calls of securities available for sale 115,029,000 67,203,000
Purchase of FHLB stock 0 (10,000)
Redemption of FHLB stock 284,000 100,000
Net change in loans (78,012,000) 7,394,000
Purchases of premises and equipment, net (571,000) (1,211,000)
Proceeds from sales of other real estate acquired through foreclosure 1,362,000 1,254,000
Net cash from (used in) investing activities (117,024,000) 35,265,000
Cash flows from financing activities    
Net change in deposits 89,585,000 (3,029,000)
Net change in agreements to repurchase securities 7,786,000 (341,000)
Repayment of other borrowed funds 0 (2,500,000)
Repayment of FHLB advances (6,400,000) (2,500,000)
Proceeds from stock option exercises 31,000 176,000
Common stock dividends paid (6,602,000) (6,588,000)
Net cash from financing activities 84,400,000 (14,782,000)
Net change in cash and cash equivalents (13,040,000) 41,893,000
Cash and cash equivalents at beginning of period 95,056,000 80,775,000
Cash and cash equivalents at end of period 82,016,000 122,668,000
Supplemental disclosures of cash flow information:    
Cash paid during period for interest 6,050,000 7,096,000
Cash paid during period for income taxes 3,980,000 5,090,000
Loans transferred to real estate acquired through foreclosure 2,719,000 1,330,000
Operating right-of-use asset resulting from lease liability $ (152,000) $ 7,412,000