XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 11,098 $ 10,731
Adjustments to reconcile net income to net cash provided by operating activities:    
(Release of) provision for loan losses (1,300) 400
Depreciation expense 1,083 1,155
Net amortization of investment securities, premiums, and discounts 765 878
Change in fair value of mortgage servicing rights (31) (38)
Investment securities losses (gains), net 13 (15)
(Gain) losses on sales and dispositions of premises and equipment (141) 4
Gain on sales and dispositions of other real estate (2) (25)
(Release of) provision for other real estate owned (28) 84
Decrease (increase) in accrued interest receivable 175 (209)
Increase in cash surrender value - life insurance (29) (29)
(Increase) decrease in other assets (1,111) 387
Decrease in operating lease liabilities (150) (154)
Increase (decrease) in accrued interest payable 77 (461)
Decrease in other liabilities (4,358) (2,034)
Origination of mortgage loans held for sale (52,610) (121,386)
Proceeds from the sale of mortgage loans held for sale 54,748 128,217
Gain on sale of mortgage loans, net (1,695) (4,511)
Net cash provided by operating activities 6,504 12,994
Cash flows from investing activities:    
Purchase of certificates of deposit in other banks 0 (245)
Proceeds from maturities of certificates of deposit in other banks 988 2,467
Net increase in loans (125,843) (6,735)
Purchase of available-for-sale debt securities (17,174) (114,520)
Proceeds from maturities of available-for-sale debt securities 18,478 20,491
Proceeds from calls of available-for-sale debt securities 2,280 13,852
Purchases of FHLB stock (3,833) (327)
Proceeds from sales of FHLB stock 4,119 684
Purchases of premises and equipment (1,653) (247)
Proceeds from sales of premises and equipment 298 12
Proceeds from sales of other real estate and repossessed assets 1,348 324
Net cash used in investing activities (120,992) (84,244)
Cash flows from financing activities:    
Net increase in demand deposits 18,696 50,796
Net decrease in interest-bearing transaction accounts (22,304) (19,573)
Net increase (decrease) in time deposits 17,596 (33,828)
Net decrease in federal funds purchased and securities sold under agreements to repurchase (16,894) (13,136)
Repayment of FHLB advances and other borrowings (95,477) (13,120)
FHLB advances 86,059 0
Purchase of treasury stock (2,892) (2,148)
Cash dividends paid - common stock (1,983) (1,670)
Net cash used in financing activities (17,199) (32,679)
Net decrease in cash and cash equivalents (131,687) (103,929)
Cash and cash equivalents, beginning of period 159,909 180,363
Cash and cash equivalents, end of period 28,222 76,434
Cash paid during the period for:    
Interest 2,795 3,671
Income taxes 3,261 4,485
Noncash investing and financing activities:    
Other real estate and repossessed assets acquired in settlement of loans net of (charge-offs) $ (52) $ 30