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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities    
Net income $ 5,128 $ 5,823
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 879 571
Depreciation and amortization 479 537
Net amortization of securities premiums and discounts 313 501
Amortization of subordinated debt issuance costs 2 3
Net realized (gain) on sale of foreclosed real estate (54) 9
Write-downs of and provisions for foreclosed real estate 51 6
Deferred income tax (benefit) (257) (1,534)
Earnings on bank-owned life insurance (228) (230)
Compensation expense for stock options and restricted stock grants 378 191
Decrease (increase) in assets:    
Accrued interest receivable (681) (43)
Other assets (132) (1,556)
Increase in accrued interest payable and other liabilities (1,815) (454)
Net Cash Provided by Operating Activities 4,063 3,824
Securities available for sale:    
Purchases (22,903) (9,565)
Maturities, calls and principal repayments 3,645 2,072
Securities held to maturity:    
Purchases (2,534) (200)
Maturities, calls and principal repayments 200 239
Net (increase) in loans (56,571) (39,026)
Proceeds from the sale of foreclosed real estate 699 893
Purchases of bank premises and equipment (363) (678)
Payback of bank owned life insurance 501 0
Net (increase) in other bank stock 11 2,417
Net Cash Used in Investing Activities (77,315) (43,848)
Cash Flows from Financing Activities    
Net increase in deposits 73,510 107,385
Net increase (decrease) in short-term borrowed funds 3,145 (60,495)
Proceeds from long-term borrowings 13 46
Repayment of long-term borrowings (6,000) (7,949)
Purchase of treasury stock 0 (1,926)
Dividends paid (797) (712)
Net Cash Provided by Financing Activities 69,871 36,349
Net increase in Cash and Cash Equivalents (3,381) (3,675)
Cash and Cash Equivalents - Beginning 43,686 26,678
Cash and Cash Equivalents - Ending 40,305 23,003
Supplementary Cash Flows Information    
Interest paid 5,594 5,252
Income taxes paid 5,498 $ 96
Operating Leases    
Operating lease right-of-use asset, net 4,535  
Operating lease liability $ 4,676