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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 20,352 $ 23,803
Adjustments to reconcile net income to net cash provided by operating activities:    
Net change in loans held for sale 1,708 (3,669)
Provision for credit losses 874 1,548
Net amortization of securities 894 1,202
Change in unamortized net loan costs and premiums (540) 159
Premises and equipment depreciation 2,096 2,112
Stock-based compensation expense 1,171 683
Amortization of other intangibles 466 466
Income from cash surrender value of bank-owned life insurance policies (1,144) (1,651)
Gain on sales of securities, net (50) (34)
Amortization of right-of-use lease assets 442 597
Decrease in lease liabilities (440) (582)
Gain on premises and equipment, net (263) (99)
Net change in other assets and liabilities (9,954) (12,153)
Net cash provided by operating activities 15,612 12,382
Cash flows from investing activities:    
Proceeds from sales, maturities, calls and prepayments of securities available for sale 36,656 22,456
Purchases of securities available for sale (22,845) (1,000)
Net change in loans (64,753) (104,995)
Purchase of Federal Home Loan Bank stock (9,953) (14,262)
Proceeds from sale of Federal Home Loan Bank stock 7,986 11,371
Purchase of premises and equipment, net (5,489) (2,194)
Proceeds from sale of premises held for sale 1,136  
Proceeds from death benefit of bank-owned life insurance policy   3,904
Net cash used in investing activities (57,262) (84,720)
Cash flows from financing activities:    
Net change in deposits (691) 46,814
Net change in short-term borrowings 58,310 65,020
Repayments of long-term borrowings (5) (10)
Net change in subordinated debt 80  
Net issuance to employee stock plans (326) 152
Cash dividends paid on common stock (8,724) (8,148)
Net cash provided by financing activities 48,644 103,828
Net change in cash and cash equivalents 6,994 31,490
Cash and cash equivalents at beginning of year 94,842 92,295
Cash and cash equivalents at end of period 101,836 123,785
Supplemental cash flow information:    
Interest paid 34,298 21,708
Income taxes paid, net $ 7,857 $ 8,530