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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 12,645 $ 11,844
Adjustments to reconcile net income to net cash provided by operating activities:    
Net accretion of acquisition accounting estimates (182) (307)
Provision for credit losses 1,365 2,850
Depreciation and amortization 1,937 1,793
Net amortization of securities 1,034 330
Amortization of debt issuance costs 92 10
Stock-based compensation expense 287 190
Deferred income tax (benefit) (865) (1,925)
(Gains) on sales and calls of securities (2) (347)
Losses on sales and disposals of premises and equipment 4 40
Losses on sales and valuation adjustments on other real estate owned 2 18
Fair value adjustment on equity securities 24 (34)
Bank owned life insurance income (774) (908)
Net changes in:    
Accrued interest receivable 1,579 (3,930)
Other assets (1,342) (511)
Accrued interest payable (446) (11)
Other liabilities 218 471
Net cash provided by operating activities 15,576 9,573
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and principal payments of investment securities available for sale 31,975 33,272
Proceeds from sales and calls of investment securities available for sale   13,019
Purchases of investment securities available for sale   (60,500)
Proceeds from maturities and principal payments of investment securities held to maturity 29,046 205
Purchases of securities held to maturity (214,199) (11,589)
Purchases of equity securities (13) (20)
Net change in loans (40,437) (175,669)
Purchases of premises and equipment (3,106) (1,786)
Proceeds from sales of premises and equipment   2
Proceeds from sales of other real estate owned   18
Net redemption of restricted securities 437 564
Purchases of bank owned life insurance (10,157)  
Net cash (used in) investing activities (206,454) (202,484)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Noninterest-bearing deposits 45,811 108,686
Interest-bearing deposits 271,594 144,186
Short-term borrowings 2,451 (207)
Long-term borrowings   (15,000)
Proceeds from the issuance of subordinated debt, net of issuance costs   24,389
Common stock dividends paid (4,230) (4,504)
Retirement of common stock (819) (3,109)
Repurchase of shares for tax withholding on exercised options and vested restricted stock   (39)
Stock options exercised, net of shares surrendered 6  
Net cash provided by financing activities 314,813 254,402
Net increase in cash and cash equivalents 123,935 61,491
Cash and cash equivalents at beginning of period 186,917 94,971
Cash and cash equivalents at end of period 310,852 156,462
Supplemental cash flows information:    
Interest paid 4,694 5,436
Income taxes paid 5,037 6,378
Lease liabilities arising from right-of-use assets 1,194 419
Unrealized (loss) gain on securities available for sale (1,789) 2,321
Transfers from loans to other real estate owned $ 205  
Amortization of unrealized loss on securities transferred from available for sale to held to maturity   $ 15