XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 801 $ 4,583
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 287 271
Right of use asset amortization 85 85
Provision for (recovery of) loan losses 118 (34)
(Gain) loss on sale of securities available for sale 91 (940)
Gain on sale of mortgage loans 386 3,041
Realized/unrealized loss on equity securities 9 19
Net amortization of premium on investment securities available for sale 733 174
Net amortization of premium on investment securities held to maturity 37 39
Amortization of loan servicing rights 336 383
Originations and purchases of mortgage loans for sale (41,909) (108,979)
Proceeds from sales of mortgage loans for sale 51,297 98,313
Mortgage banking derivatives (266) (1,046)
Loan servicing assets (493) (938)
Accrued interest receivable (177) 179
Prepaid assets (211) (72)
Cash surrender value of life insurance (29) (32)
Miscellaneous other assets (284) 2,056
Accrued interest payable 61 (5)
Miscellaneous other liabilities 650 2,412
Net cash provided (used) by operating activities 11,522 (491)
Cash flows from investing activities    
Proceeds from sales of investment securities available for sale 8,398 34,237
Proceeds from sale of equity securities   929
Proceeds from maturities, calls and paydowns of securities available for sale 9,007 4,505
Proceeds from maturities, calls and paydowns of securities held to maturity 42 366
Purchase of investment securities available for sale (28,391) (41,445)
Purchase of investments in other assets (172)  
Proceeds from sales of investments in other assets   1,125
Net change in restricted stock (507) 245
Net (increase) decrease in loans (25,133) 7,184
Purchase of premises and equipment (82) (72)
Net cash provided (used) by investing activities (36,838) 7,074
Cash flows from financing activities    
Net increase in deposit accounts 46,746 953
Net increase in federal funds purchased and other short-term borrowings 263 628
Proceeds from long-term borrowings   250
Repurchase of common stock, net (254) (83)
Dividends paid on preferred stock (noncontrolling interest) (139) (139)
Net cash provided by financing activities 46,616 1,609
Increase in cash and cash equivalents 21,300 8,192
Cash and cash equivalents, beginning of period 94,410 88,868
Cash and cash equivalents, end of period 115,710 97,060
Supplemental disclosures of cash flow information    
Interest paid 432 328
Supplemental schedule of non-cash activities    
Net change in fair value of securities available for sale, net of tax $ (14,037) $ 3,772