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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 3,998 $ 3,118
Adjustments to reconcile net income to net cash provided by operating activities:    
Net accretion of acquisition accounting estimates (80) (110)
Provision for credit losses 425 350
Depreciation and amortization 628 620
Net amortization of securities 307 111
Amortization of debt issuance costs 31  
Stock-based compensation expense 97 61
Deferred income tax (benefit) (485) (108)
Losses on sales and valuation adjustments on other real estate owned   18
Fair value adjustment on equity securities 18 (1)
Bank owned life insurance income (253) (257)
Net changes in:    
Accrued interest receivable 607 (215)
Other assets (1,638) 397
Accrued interest payable (385)  
Other liabilities 626 479
Net cash provided by operating activities 3,896 4,463
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and principal payments of investment securities available for sale 14,173 20,021
Proceeds from maturities and principal payments of investment securities held to maturity 1,093 105
Purchases of securities held to maturity (61,406)  
Purchases of equity securities (5) (7)
Net change in loans (7,416) (28,739)
Purchases of premises and equipment (711) (1,397)
Proceeds from sales of other real estate owned   18
Net purchases of restricted securities   (73)
Net redemption (purchase) of restricted securities 437  
Purchases of bank owned life insurance (10,071)  
Net cash (used in) investing activities (63,906) (10,072)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Noninterest-bearing deposits 24,732 (1,564)
Interest-bearing deposits 75,224 9,055
Short-term borrowings 2,451 936
Common stock dividends paid (1,409) (1,499)
Retirement of common stock (819)  
Repurchase of shares for tax withholding on exercised options and vested restricted stock   (39)
Net cash provided by financing activities 100,179 6,889
Net increase in cash and cash equivalents 40,169 1,280
Cash and cash equivalents at beginning of period 186,917 94,971
Cash and cash equivalents at end of period 227,086 96,251
Supplemental cash flows information:    
Interest paid 1,924 2,199
Income taxes paid 7 77
Lease liabilities arising from right-of-use assets 2,577 419
Unrealized (loss) gain on securities available for sale (1,075) 1,714
Transfers from loans to other real estate owned $ 205  
Amortization of unrealized loss on securities transferred from available for sale to held to maturity   $ 8