XML 79 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities:    
Net Income $ 10,651 $ 8,480
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Provision for loan and lease losses 1,600 590
Depreciation 1,576 1,398
Amortization of intangibles 649 723
Net amortization of security discounts/premiums 362 196
Amortization of operating lease right of use assets 855 826
Amortization of finance lease right of use asset 90 60
Gain on sales of investment securities (243) (24)
Earnings on cash surrender value of life insurance (152) (174)
Mortgage loans originated for sale (114,714) (65,989)
Proceeds from sales of mortgage loans originated for sale 104,144 61,066
Gain on sale of mortgage loans (2,820) (1,514)
SBA loans originated for sale (2,446) (7,109)
Proceeds from sales of SBA loans originated for sale 2,708 7,544
Gain on sale of SBA loans (262) (435)
Loss on write-down or disposal of property, plant, and equipment 10 163
Loss on sale or write-down of foreclosed assets, net   14
Stock compensation expense 192 160
Deferred income tax expense (benefit) 611 (388)
Increase in accrued interest receivable (4,779) (639)
Decrease (increase) in other assets 353 (4,296)
Increase in accrued interest payable 382 434
Net change in operating lease liability (901) (883)
Increase (decrease) in other liabilities 1,065 (81)
Net Cash (Used In) Provided By Operating Activities (1,069) 122
Investing Activities:    
Proceeds from the sale of available-for-sale securities 68,811 40,455
Proceeds from the maturity or call of available-for-sale securities 8,513 3,436
Purchases of available-for-sale securities (63,503) (11,556)
Proceeds from the maturity or call of held-to-maturity securities 82,001 10,968
Purchases of held-to-maturity securities (80,880) (2,997)
(Purchases) redemptions of restricted investment in bank stock (2,177) 166
Net increase in loans and leases (684,579) (64,616)
Proceeds from bank owned life insurance   140
Purchases of bank premises and equipment (2,687) (1,115)
Proceeds from the sale of foreclosed assets   907
Net Cash Used In Investing Activities (674,501) (24,212)
Financing Activities:    
Net increase in deposits 413,919 52,375
Net increase (decrease) in short-term borrowings 203,937 (30,100)
Common stock dividends paid (3,473) (3,637)
Treasury stock purchased (1,560)  
Net change in finance lease liability (41) (6)
Proceeds from the issuance of subordinated debt 15,000  
Issuance of long-term debt 70,000 13,500
Long-term debt repayment (17,641) (92)
Net Cash Provided By Financing Activities 680,295 32,170
Net increase in cash and cash equivalents 4,725 8,080
Cash and cash equivalents, beginning of period 139,030 40,065
Cash and cash equivalents, end of period 143,755 48,145
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 10,494 11,354
Cash paid for income taxes 1,060 2,200
Supplemental Noncash Disclosures:    
Recognition of operating lease right of use assets   11,661
Recognition of operating lease liabilities   12,866
Recognition of finance lease right of use asset   3,597
Recognition of finance lease liability   3,597
Asset transferred to bank premises and equipment held for sale   1,274
Loans transferred to foreclosed assets held for sale 1,522 294
Employee [Member]    
Financing Activities:    
Proceeds from Stock Purchase Plan stock issuance 78 63
Director [Member]    
Financing Activities:    
Proceeds from Stock Purchase Plan stock issuance $ 76 $ 67