XML 19 R8.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements Of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 4,830,000 $ 1,719,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 324,000 331,000
Net amortization of loans and investment securities 124,000 340,000
Amortization of subordinate debt issuance costs 10,000  
(Recovery of) provision for loan losses (800,000) 3,000,000
(Increase) decrease in fair value of equity securities (54,000) 127,000
Debt securities losses, net   10,000
Loans originated for sale (28,992,000) (9,223,000)
Proceeds from sale of loans 34,521,000 8,656,000
Gain on sale of loans (782,000) (144,000)
Increase in cash surrender value of life insurance (115,000) (124,000)
Gain from surrender of life insurance policy   (812,000)
Stock option compensation 48,000 31,000
Decrease (increase) in other assets 668,000 (1,139,000)
Increae (decrease) in other liabilities 667,000 (281,000)
Net cash provided by operating activities 10,449,000 2,491,000
Cash flows from investing activities    
Net decrease (increase) in long-term interest-bearing deposits in other banks 1,746,000 (1,992,000)
Proceeds from sales and calls of investment securities available for sale   165,000
Proceeds from maturities and pay-downs of securities available for sale 9,367,000 10,941,000
Purchase of investment securities available for sale (45,827,000) (29,974,000)
Net decrease (increase) in loans 9,439,000 (2,077,000)
Capital expenditures (168,000) (174,000)
Net cash used in investing activities (25,443,000) (23,111,000)
Cash flows from financing activities    
Net increase (decrease) in demand deposits, interest-bearing checking, and savings accounts 69,285,000 (2,452,000)
Net decrease in time deposits (2,816,000) (5,507,000)
Dividends paid (1,318,000) (1,306,000)
Purchase of Treasury shares (13,000) (1,172,000)
Cash received from option exercises 7,000 19,000
Treasury shares issued under dividend reinvestment plan 325,000 560,000
Net cash provided by (used in) financing activities 65,470,000 (9,858,000)
Increase (decrease) in cash and cash equivalents 50,476,000 (30,478,000)
Cash and cash equivalents at the beginning of the period 57,146,000 83,828,000
Cash and cash equivalents at the end of the period 107,622,000 53,350,000
Supplemental Disclosures of Cash Flow Information    
Cash paid during the year for: Interest on deposits and other borrowed funds $ 513,000 1,547,000
Noncash Activities    
Lease liabilities arising from obtaining right-of-use assets   105,000
Life insurance claim receivable   $ 3,613,000