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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income $ 5,363 $ 6,436
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Deferred income taxes (40) 480
Provision for loan losses 2,500 2,220
Depreciation and amortization 2,075 2,054
Amortization and accretion of premiums/discounts on investment securities 305 280
Amortization of operating lease right-of-use assets (6) 6
Stock-based compensation 235 346
Increase in value of bank-owned life insurance (197) (196)
Realized loss (gain) on forward sale derivatives   (11)
Realized loss (gain) on rate lock commitments   12
Realized loss (gain) on sale of foreclosed assets (63) (57)
Realized loss (gain) on sale of investment securities   (113)
Realized loss (gain) on servicing rights 381 (67)
Net change in:    
Securities held for trading   1,539
Loans held for sale (25,412) (13,069)
Accrued interest receivable 126 (332)
Other assets (4,038) 2,657
Accrued expenses and other liabilities (2,395) (3,584)
Net cash provided (used) by operating activities (21,166) (1,399)
Investing Activities    
Proceeds from sales or calls of investment securities available-for-sale 4,000 4,763
Proceeds from maturities of investment securities available-for-sale 9,003 10,282
Purchases of investment securities available-for-sale (50,148) (17,901)
Net (increase) decrease in equity securities 2,808 248
Net (increase) decrease in loans (36,637) (10,368)
Purchases of premises and equipment (689) (1,366)
Proceeds from sales of foreclosed assets 96 254
Net cash provided (used) by investing activities (71,567) (14,088)
Financing Activities    
Net increase (decrease) in deposits 150,198 103,201
Net increase (decrease) in short-term borrowings   (81,410)
Repayments of long-term debt (51) (45)
Cash dividends paid on common stock (2,595) (1,973)
Repurchase of common stock (336) (89)
Net cash provided (used) by financing activities 147,216 19,684
Net change in cash and cash equivalents 54,483 4,197
Cash and cash equivalents at beginning of period 144,006 40,651
Cash and cash equivalents at end of period 198,489 44,848
Cash paid for:    
Interest 4,128 3,290
Income taxes   103
Non-cash information    
Loan collateral transferred to foreclosed assets 234 142
Unrealized gain (loss) on investment securities available-for-sale 5,213 2,275
Initial recognition of operating lease right-of-use assets   10,000
Initial recognition of operating lease liabilities   $ 10,521
Right-of-use assets obtained in exchange for new operating leases $ 183