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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 10,259 $ 9,907 $ 11,944
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment 1,341 1,183 1,141
Net (accretion) of purchase accounting adjustments (42) (494) (188)
Net amortization of securities 459 173 260
Proceeds from sale of loans in secondary market 40,158 9,840 11,034
Loans disbursed for sale in secondary market (38,904) (9,530) (10,692)
Amortization of mortgage servicing rights 126 68 55
Impairment of mortgage servicing rights 11 0 0
Gain on sale of loans (1,391) (378) (397)
Amortization of intangible assets 62 206 135
Deferred tax (benefit) expense 12 367 (134)
Provision for loan losses 2,980 1,000 1,039
Common stock issued to ESOP 0 328 295
Earnings on bank owned life insurance and annuity assets (820) (704) (717)
Loss on sale of other real estate owned 35 57 21
Net write-down of other real estate owned 0 8 538
Net gain on branch divestitures 0 (1,256) 0
Change in accrued interest receivable (755) 74 (135)
Change in accrued liabilities (632) 2,376 1,946
Change in other assets (408) 1,528 1,996
Net cash provided by operating activities 12,491 14,753 18,141
Cash flows from investing activities:      
Payments related to branch divestitures 0 (26,326) 0
Proceeds from maturities and paydowns of securities available for sale 36,154 20,199 21,139
Purchases of securities available for sale (41,162) (20,126) (23,757)
Proceeds from calls and maturities of securities held to maturity 2,694 3,754 1,711
Purchases of securities held to maturity (721) 0 0
Proceeds from maturities of certificates of deposit in financial institutions 980 0 0
Purchases of certificates of deposit in financial institutions (1,120) (295) (245)
Net change in loans (78,038) 2,323 (9,981)
Proceeds from sale of other real estate owned 548 392 1,132
Purchases of premises and equipment (3,450) (6,232) (2,725)
Disposals of premises and equipment 13 402 0
Purchases of bank owned life insurance and annuity assets (4,583) (500) 0
Net cash provided by (used in) investing activities (88,685) (26,409) (12,726)
Cash flows from financing activities:      
Change in deposits 172,290 1,147 (9,930)
Proceeds from common stock through dividend reinvestment 0 1,407 1,325
Cash dividends (4,022) (4,000) (3,967)
Proceeds from Federal Home Loan Bank borrowings 0 0 8,000
Repayment of Federal Home Loan Bank borrowings (5,093) (3,676) (3,162)
Change in other long-term borrowings (405) (2,046) (989)
Change in other short-term borrowings (629) 0 (85)
Net cash provided by (used in) by financing activities 162,141 (7,168) (8,808)
Cash and cash equivalents:      
Change in cash and cash equivalents 85,947 (18,824) (3,393)
Cash and cash equivalents at beginning of year 52,356 71,180 74,573
Cash and cash equivalents at end of year 138,303 52,356 71,180
Supplemental disclosure:      
Cash paid for interest 6,681 6,931 5,008
Cash paid for income taxes 2,050 890 2,050
Transfers from loans to other real estate owned 92 570 547
Initial recognition of operating lease right-of-use asset 0 1,280 0
Operating lease liability arising from obtaining right-of-use asset $ 0 $ 1,280 $ 0