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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 6,184 $ 5,104
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 365 262
Provision for loan losses 276 1,275
Amortization of premiums and discounts on securities 155 0
Gain on sales of loans (166) (14)
Net loss on sale of available-for-sale debt securities 127 0
Stock-based compensation expense 286 302
Cash receipts from the sale of loans originated for sale 7,617 2,267
Cash disbursements for loans originated for sale (7,584) (1,929)
Deferred income tax benefit (1,497) (314)
Changes in    
Interest receivable and other assets 2,764 805
Interest payable and other liabilities 3,633 1,481
Net cash provided by operating activities 12,160 9,239
Investing Activities    
Maturities of interest-bearing time deposits in other banks 1,245 9,449
Purchases of interest-bearing time deposits in other banks (249) 0
Proceeds from sale of securities available-for-sale 11,820 0
Maturities, prepayments and calls of securities available-for-sale 1,407 0
Purchases of debt securities available-for-sale (131,052) 0
Net change in loans (33,413) (24,845)
Purchases of premises and equipment (66) (117)
Proceeds from sale of premises and equipment 2,933 0
Change in nonmarketable equity securities 7 (15)
Net cash used in investing activities (147,368) (15,528)
Financing Activities    
Net change in deposits 65,808 23,515
Cash distributions (1,089) (995)
Net cash provided by financing activities 64,719 22,520
(Decrease) Increase in Cash and Cash Equivalents (70,489) 16,231
Cash and Cash Equivalents, Beginning of Period 204,852 153,901
Cash and Cash Equivalents, End of Period 134,363 170,132
Supplemental Disclosure of Cash Flows Information    
Interest paid 731 969
Dividends declared and not paid 1,091 995
Measurement period goodwill adjustment $ 328 $ 0