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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 7,721 $ 7,281
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,111 324
Net amortization of securities 686 693
Change in unamortized net loan costs and premiums (132) (85)
Premises and equipment depreciation 1,182 952
Stock-based compensation expense 118 90
Accretion of purchase accounting entries, net (1,489) (886)
Amortization of other intangibles 256 207
Income from cash surrender value of bank-owned life insurance policies (537) (542)
Gain on sales of securities, net (135)  
Loss on other real estate owned 31  
Loss on premises and equipment, net 92  
Net change in other assets and liabilities (5,900) (3,757)
Net cash provided by operating activities 3,004 4,277
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 32,017  
Proceeds from maturities, calls and prepayments of securities available for sale 24,899 21,709
Purchases of securities available for sale (15,739) (35,290)
Net change in loans 6,300 (36,209)
Purchase of FHLB stock (3,161) (5,567)
Proceeds from sale of FHLB stock 3,943 6,119
Purchase of premises and equipment, net (628) (1,809)
Acquisitions, net of cash acquired (340)  
Proceeds from sale of other real estate owned 51  
Net cash provided by (used in) investing activities 47,342 (51,047)
Cash flows from financing activities:    
Net increase (decrease) in deposits (44,959) (17,260)
Net change in short-term FHLB borrowings (160,970) 59,716
Net change in short-term FRB borrowings 62,000  
Proceeds from long-term borrowings from the FHLB 139,000  
Repayments of long-term borrowings from the FHLB   (35,705)
Net change in short-term other borrowings (13,831) (1,531)
Repayments of subordinated debt (32)  
Payments of subordinated debt issuance costs (39)  
Exercise of stock options 789 4
Purchase of treasury stock (130)  
Cash dividends paid on common stock (3,429) (3,105)
Net cash (used in) provided by financing activities (21,601) 2,119
Net change in cash and cash equivalents 28,745 (44,651)
Cash and cash equivalents at beginning of year 56,910 98,754
Cash and cash equivalents at end of year 85,655 54,103
Supplemental cash flow information:    
Interest paid 8,455 11,490
Income taxes paid, net 1,205 $ 1,506
Other non-cash changes:    
Assets acquired 1,171  
Liabilities acquired $ (343)