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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 6,550 $ 5,368
Adjustments to reconcile net income to net cash from operating activities    
Depreciation 520 460
Provision for loan losses 648 1,000
Amortization, net of accretion 1,141 94
Writedowns of other real estate owned, net 21 14
Stock compensation expense 21 40
Gain on the disposition of securities available for sale (1,096) 0
Changes in:    
Interest receivable (201) (493)
Other assets 87 434
Interest payable (88) (47)
Other liabilities 1,803 455
Net cash from operating activities 9,406 7,325
Cash flows from investing activities    
Purchases of securities available for sale (112,295) (47,360)
Proceeds from maturities and calls of securities available for sale 47,024 40,458
Proceeds from the sales of securities available for sale 25,526 0
Redemption of FHLB stock 0 136
Net change in loans (47,340) 8,960
Purchases of premises and equipment, net (71) (181)
Proceeds from sales of other real estate acquired through foreclosure 349 380
Net cash from (used in) investing activities (86,807) 2,393
Cash flows from financing activities    
Net change in deposits 62,701 (33,390)
Net change in agreements to repurchase securities 6,153 (734)
Advances from FHLB 0 5,000
Repayment of FHLB advances 0 (3,400)
Proceeds from stock option exercises 191 31
Common stock dividends paid (16,911) (2,200)
Net cash from financing activities 52,134 (34,693)
Net change in cash and cash equivalents (25,267) (24,975)
Cash and cash equivalents at beginning of period 210,476 95,056
Cash and cash equivalents at end of period 185,209 70,081
Supplemental disclosures of cash flow information:    
Cash paid during period for interest 925 2,349
Loans transferred to real estate acquired through foreclosure 166 891
Security purchases settled in subsequent period 37,000 0
Operating right-of-use asset resulting from lease liability $ (299) $ 171