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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 12,220 $ 11,391
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 1,049 754
Investment amortization, net 583 903
Provision for loan losses 1,487 1,045
Provision for real estate owned 113
Stock-based compensation expense 412 454
(Increase) decrease in deferred tax asset (1)
(Gain) loss on sale of investment securities available for sale 27
Income on bank owned life insurance, net (236) (261)
Gain on sale of fixed assets (66) (90)
Net realized gain on sale of real estate owned (5) (33)
Net change in operating assets and liabilities:    
Accrued interest receivable (527) (118)
Other assets (287) (2,120)
Accrued interest payable 270 293
Other liabilities (174) 1,054
Net cash provided by operating activities 14,752 13,385
Activity for investment securities available for sale:    
Purchases (27,232) (38,520)
Maturities/calls and principal repayments 8,179 19,645
Net increase in loans (62,508) (58,436)
Proceeds from sale of real estate owned 115
Redemption of BOLI policies 429
Proceeds from sale of fixed assets 80 113
Purchase of fixed assets (512) (1,511)
Proceeds from sale of other real estate owned 457
Purchase of other investments, at cost (177)
Redemption of other investments, at cost 1,750 2,776
Net cash used in investing activities (80,305) (75,047)
Cash flows from financing activities:    
Net increase in deposits 50,966 105,257
Repurchase of common stock (3,946)
Repurchase of preferred stock (86)
Cash received upon exercise of stock options 843 1,139
Dividends paid on common stock (2,026) (1,551)
Dividends paid on preferred stock (116) (90)
Net cash provided by financing activities 49,667 100,723
Net change in cash and cash equivalents (15,886) 39,061
Cash and cash equivalents, beginning of period 124,101 63,025
Cash and cash equivalents, end of period 108,215 102,086
Cash paid during the year for:    
Interest on deposits and other borrowings 1,491 3,562
Income taxes $ 4,257 $ 4,532