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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 24,008 $ 13,035 $ 11,576
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion 5,423 4,539 3,301
Provision for loan losses 2,000 5,250 1,085
Deferred income tax expense (benefit) 1,194 (400) 341
Stock-based compensation expense 1,096 1,077 817
Excess tax benefit from exercise of SSARs 26   23
Proceeds from sale of loans held-for-sale 162,343 158,300 52,718
Originations of loans held-for-sale (186,768) (176,939) (42,328)
Earnings from bank-owned life insurance (1,227) (794) (647)
Net gain from sales of loans (4,172) (3,603) (856)
Net gain from sales of investment securities (46) (115) (14)
Net (gain)-loss from sale and write-down of foreclosed assets held-for-sale (44) (23) 44
Net (loss) from write-down and disposal of bank premises and equipment 186 142 13
Operating lease payments 60 29 81
Change in:      
Accrued interest receivable (900) (985) (10)
Other assets 1,099 (710) 420
Accrued interest payable and other liabilities 2,921 1,493 (778)
Net cash provided by operating activities 7,199 296 25,786
Available-for-sale securities:      
Proceeds from sales 44,474 123,459 10,952
Proceeds from maturities, calls and principal pay-downs 54,213 68,906 35,045
Purchases (411,406) (271,504) (43,384)
Decrease in restricted investments in bank stock 792 2,149 1,956
Net decrease (increase) in loans and leases 7,134 (132,541) (36,912)
Principal portion of lease payments received under direct finance leases 5,262 3,551 3,170
Purchase of life insurance policies   (11,000) (2,000)
Purchases of bank premises and equipment (2,520) (1,390) (4,128)
Net cash (used in) provided by acquisition (3,746) 53,004  
Proceeds from sale of bank premises and equipment 1,719 187 240
Proceeds from sale of foreclosed assets held-for-sale 835 936 1,065
Net cash used in investing activities (303,243) (164,243) (33,996)
Cash flows from financing activities:      
Net increase in deposits 351,903 278,342 65,554
Net decrease in other borrowings (12,223) (37,839) (38,527)
Proceeds from Paycheck Protection Program Liquidity Facility (PPPLF)   152,791  
Repayment of PPPLF   (152,791)  
Repayment of FHLB advances (9,602) (17,627) (16,704)
Repayment of finance lease obligation (159) (83) (73)
Proceeds from employee stock purchase plan participants 270 219 175
Dividends paid (6,608) (5,378) (4,037)
Cash paid in lieu of fractional shares (6) (4)  
Net cash provided by financing activities 323,575 217,630 6,388
Net increase (decrease) in cash and cash equivalents 27,531 53,683 (1,822)
Cash and cash equivalents, beginning 69,346 15,663 17,485
Cash and cash equivalents, ending 96,877 69,346 15,663
Supplemental Disclosures of Cash Flow Information, Cash payments for:      
Interest 3,851 5,820 7,440
Income tax 2,650 3,250 1,950
Supplemental Disclosures of Non-cash Investing Activities:      
Net change in unrealized gains on available-for-sale securities (11,105) 6,772 5,946
Transfers from loans to foreclosed assets held-for-sale 481 800 1,288
Transfers from loans to loans held-for-sale, net (23,821) 6,642 6,038
Transfers from premises and equipment to other assets held-for-sale 1,495    
Right-of-use asset 1,519 72 6,211
Lease liability 1,519 72 $ 6,710
Transactions related to acquisition, Increase in assets and liabilities:      
Securities 49,430 123,420  
Loans 298,860 245,283  
Restricted investments in bank stocks 1,186 692  
Premises and equipment 3,405 6,907  
Investment in bank-owned life insurance 7,233 9,230  
Goodwill 12,575 6,843  
Core deposit intangible asset 597 1,973  
Leased property under finance leases 1,188    
Right-of-use assets 756 1,354  
Other assets 4,127 2,680  
Non-interest-bearing deposits (100,472) (118,822)  
Interest-bearing deposits (208,057) (276,816)  
Short-term borrowings (2,224)    
FHLB advances (4,602) (7,627)  
Secured borrowings (20,619)    
Finance lease obligation (1,188)    
Operating lease liabilities (756) (1,354)  
Other liabilities (2,631) (1,356)  
Fair value of common shares issued $ (35,056) $ (45,408)