XML 29 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net income $ 13,564 $ 10,302
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for loan losses (2,119) 2,699
Depreciation 1,068 1,108
Amortization of premiums, net 1,035 221
Amortization of deferred loan fees (2,564) (977)
Amortization of core deposit intangible 1,200 1,400
Amortization of purchased asset fair value adjustments (23) (29)
Amortization of mortgage servicing rights 1,168 1,318
Capitalized mortgage servicing rights (1,405) (2,189)
Deferred income tax expense (credit) 612 (802)
(Gains) losses recognized on equity securities, net (99) 19
Gains on sale of premises (15) (5)
Gains on sale of real estate owned, net (1,492) (129)
Gain on sales of loans [1] (6,566) (9,531)
Proceeds from sales of loans held for sale 193,078 268,019
Disbursements on loans held for sale (172,779) (254,484)
Amortization of restricted stock awards 243 238
Amortization of unearned ESOP shares 194 193
Earned ESOP shares priced above original cost 239 145
Decrease (increase) in accrued interest receivable 970 (851)
Decrease in accrued interest payable (77) (280)
Decrease in other assets 1,503 1,175
(Decrease) increase in other liabilities (2,307) 670
Other, net 28 13
Net cash provided by operating activities 24,303 16,942
Cash flows from investing activities:    
Principal collected on securities available for sale 40,353 17,046
Proceeds collected on maturity of securities available for sale 30,762 41,240
Purchases of securities available for sale (213,803) (97,294)
Purchase of Federal Home Loan Bank stock (159) (79)
Proceeds from sales of real estate 2,128 434
Net increase in loans receivable (18,429) (55,106)
Proceeds from sale of premises 17 12
Purchases of premises and equipment (8,309) (734)
Net cash used by investing activities (167,440) (94,481)
Cash flows from financing activities:    
Increase in deposits 155,462 121,334
Treasury stock purchased (4,589) (1,450)
Stock awards withheld for tax withholding (7) (60)
Proceeds from borrowings 1 2
Repayment of borrowings (1) (2)
Increase (decrease) in customer escrows 145 (415)
Net cash provided by financing activities 151,011 119,409
Increase in cash and cash equivalents 7,874 41,870
Cash and cash equivalents, beginning of year 86,269 44,399
Cash and cash equivalents, end of year 94,143 86,269
Supplemental cash flow disclosures:    
Cash paid for interest 1,630 3,131
Cash paid for income taxes 6,628 3,617
Supplemental noncash flow disclosures:    
Loans transferred to loans held for sale 12,971 6,815
Transfer of loans to real estate owned, net 290 362
Right to use assets obtained in exchange for lease obligations 99 0
Termination of lease right of use assets and lease obligations 2,273 0
Core Deposits [Member]    
Adjustments to reconcile net income to cash provided by operating activities:    
Amortization of core deposit intangible $ 47 $ 99
[1] Not within the scope of ASC 606.