XML 20 R8.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 10,211 $ 10,095
Adjustments to reconcile net income to net cash provided by operating activities:    
Net change in loans held for sale (280) (948)
Provision for credit losses on loans (57) 289
Provision for credit losses on securities available for sale 636  
Net amortization of securities 283 485
Change in unamortized net loan costs and premiums 62 (265)
Premises and equipment depreciation 1,049 1,041
Stock-based compensation expense 507 487
Amortization of other intangibles 233 233
Income from cash surrender value of bank-owned life insurance policies (614) (561)
Amortization of right-of-use lease assets 311 126
Decrease in lease liabilities (313) (126)
Loss (gain) on premises and equipment, net 90 (15)
Net change in other assets and liabilities (2,798) (2,326)
Net cash provided by operating activities 9,320 8,515
Cash flows from investing activities:    
Proceeds from maturities, calls and prepayments of securities available for sale 28,336 7,738
Purchases of securities available for sale (18,982) (4,762)
Net change in loans 22,721 (12,434)
Purchase of Federal Home Loan Bank stock (1,495) (3,244)
Proceeds from redemption of Federal Home Loan Bank stock 3,037 6,072
Purchase of premises and equipment, net (1,545) (671)
Proceeds from sale of premises held for sale   74
Net cash provided by (used in) investing activities 32,072 (7,227)
Cash flows from financing activities:    
Net change in deposits 29,123 (14,081)
Net change in short-term borrowings (49,996) (1,604)
Repayments of long-term borrowings (3) (5)
Net issuance to employee stock plans 73 (16)
Cash dividends paid on common stock (4,620) (4,205)
Net cash used in financing activities (25,423) (19,911)
Net change in cash and cash equivalents 15,969 (18,623)
Cash and cash equivalents at beginning of year 72,162 94,842
Cash and cash equivalents at end of period 88,131 76,219
Supplemental cash flow information:    
Interest paid 17,839 15,941
Income taxes paid, net 5,826 $ 4,303
Transfer of non-cash assets $ 1,000