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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 10,095 $ 13,012
Adjustments to reconcile net income to net cash provided by operating activities:    
Net change in loans held for sale 948 463
Provision for credit losses 289 798
Net amortization of securities 485 540
Change in unamortized net loan costs and premiums (265) 49
Premises and equipment depreciation 1,036 1,048
Stock-based compensation expense 487 299
Amortization of other intangibles 233 233
Income from cash surrender value of bank-owned life insurance policies (561) (1,148)
Gain on sales of securities, net   (34)
Amortization of right-of-use lease assets 126 298
Decrease in lease liabilities (126) (290)
Gain on premises and equipment, net (15) (13)
Net change in other assets and liabilities (4,217) 2,098
Net cash provided by operating activities 8,515 17,353
Cash flows from investing activities:    
Proceeds from sales, maturities, calls and prepayments of securities available for sale 7,738 2,534
Purchases of securities available for sale (4,762) (1,000)
Net change in loans (12,434) (41,582)
Purchase of Federal Home Loan Bank stock (3,244) (5,030)
Proceeds from sale of Federal Home Loan Bank stock 6,072 4,205
Purchase of premises and equipment, net (671) (1,153)
Proceeds from sale of premises and equipment 74  
Proceeds from death benefit of bank-owned life insurance policy   3,909
Net cash used in investing activities (7,227) (38,117)
Cash flows from financing activities:    
Net change in deposits (14,081) 10,383
Net change in short-term borrowings (1,604) 4,290
Repayments of long-term borrowings (5) (3)
Net change subordinated debt issuance costs   41
Net issuance to employee stock plans (16) 403
Cash dividends paid on common stock (4,205) (3,943)
Net cash provided by financing activities (19,911) 11,171
Net change in cash and cash equivalents (18,623) (9,593)
Cash and cash equivalents at beginning of year 94,842 92,295
Cash and cash equivalents at end of period 76,219 82,702
Supplemental cash flow information:    
Interest paid 15,941 9,417
Income taxes paid, net $ 4,303 $ 5,219