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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 10,619 $ 10,352
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,050 1,350
Depreciation 739 665
Amortization of intangible assets 79 97
Deferred income taxes (176) (198)
Net amortization of securities premiums and discounts 1,104 1,308
Net realized gain on sales of securities (232) (213)
Earnings and proceeds on life insurance policies (630) (848)
Gain on sales and write-downs of fixed assets and foreclosed real estate owned, net (67) (42)
Net gain on sale of loans (125) (15)
Loans originated for sale (2,767) (752)
Proceeds from sale of loans originated for sale 2,846 767
Compensation expense related to stock options 156 177
Compensation expense related to restricted stock 217 154
Decrease (increase) in accrued interest receivable 50 (76)
Increase in accrued interest payable 817 271
Other, net 1,017 1,062
Net cash provided by operating activities 14,697 14,059
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales 22,862 17,745
Proceeds from maturities and principal reductions on mortgage-backed securities 21,211 22,848
Purchases (5,066) (15,458)
Purchase of regulatory stock (2,963) (3,865)
Redemption of regulatory stock 3,752 4,109
Net increase in loans (57,891) (56,275)
Purchase of premises and equipment (1,056) (598)
Proceeds from sales of foreclosed real estate owned 312 696
Proceeds from sales of bank premises and equipment 246 0
Net cash used in investing activities (18,593) (30,798)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 27,653 10,330
Net (decrease) increase in short-term borrowings (268) 10,290
Repayments of other borrowings (22,378) (9,296)
Proceeds from other borrowings 6,000 10,000
Stock options exercised 359 395
Purchase of treasury stock (374) (179)
Cash dividends paid (4,529) (4,130)
Net cash provided by financing activities 6,463 17,410
Increase in cash and cash equivalents 2,567 671
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 18,348 16,697
CASH AND CASH EQUIVALENTS, END OF PERIOD 20,915 17,368
Supplemental Disclosures of Cash Flow Information    
Interest on deposits and borrowings 5,709 3,570
Income taxes paid, net of refunds 1,447 1,547
Supplemental Schedule of Noncash Investing Activities:    
Transfers of loans to foreclosed real estate and repossession of other assets 1,478 333
Dividends payable $ 1,512 $ 1,379