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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 11,815 $ 10,211
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 6,558 1,104
Depreciation, amortization and accretion 5,859 2,895
Stock-based compensation expense 33 34
Gains on securities available for sale (926) (97)
Net increase in servicing asset (295) 0
(Gain) loss on sale of other real estate and repossessions and write-downs 8 (780)
(Gain) loss on sale of premises & equipment (56) 168
Gain on sale of assets (1,028) 0
Writedown of building 582 0
Increase in bank owned life insurance (743) (535)
Gain on sale of loans held for sale 0 (1,823)
Gain on sale of SBA loans (1,600) 0
Origination of loans held for sale (315,929) (69,576)
Proceeds from sale of loans held for sale 275,219 61,323
Change in other assets (696) 574
Change in other liabilities 2,105 379
Net cash (used in) provided by operating activities (19,094) 3,877
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of investment securities available for sale (181,685) (72,482)
Proceeds from maturities, calls, and paydowns of investment securities available for sale 96,999 73,313
Proceeds from sale of investment securities available for sale 58,069 65,513
Net change in loans (94,623) (58,484)
Purchase of premises and equipment (4,241) (3,485)
Proceeds from sale of other real estate and repossessions 2,363 2,553
Purchase of bank-owned life insurance (10,000) 0
Proceeds from bank owned life insurance 825 482
Redemption (purchase of) Federal Home Loan Bank stock 992 (831)
Proceeds from sale of premises and equipment 1,035 690
Net cash and cash equivalents paid in acquisition 0 (467)
Net cash (used in) provided by investing activities (130,266) 6,802
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in noninterest-bearing customer deposits 94,364 8,753
Change in interest-bearing customer deposits 56,921 10,633
Dividends paid for common stock (3,800) (2,692)
Issuance of Paycheck Protection Program Liquidity Fund 134,500 0
Payment of Paycheck Protection Program Liquidity Fund (27,711) 0
Proceeds from Federal Home Loan Bank advances 14,000 10,000
Payments of Federal Home Loan Bank advances (38,500) (8,000)
Net increase (decrease) in other borrowed money 0 14,563
Payments of Other borrowings (1,000) 0
Net cash (used in) provided by financing activities 228,774 33,257
Net increase in cash and cash equivalents 79,414 43,936
Cash and cash equivalents at beginning of period 104,092 60,156
Cash and cash equivalents at end of period 183,506 104,092
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for interest 7,821 12,245
Cash paid during the period for income taxes 2,450 2,000
NONCASH INVESTING AND FINANCING ACTIVITIES    
Acquisition of real estate through foreclosure 2,057 1,009
Change in goodwill $ 485 $ 16,275