XML 17 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Cash flows from operating activities:    
Net income $ 6,748 $ 17,004
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 1,475 1,401
Amortization of right-of-use lease asset 282 244
Amortization of deferred loan fees, net 376 382
Amortization of intangibles   57
Amortization of low income housing partnerships 251 241
Provision for (credit to) credit losses 1,304 (937)
Net unrealized loss on equity investment securities 20 17
Loans originated for sale (1,159) (2,486)
Proceeds from sale of loans originated for sale 1,406 2,496
Net loss (gain) on sale of loans originated for sale 3 (10)
Net amortization of investment securities 425 533
Net gain on sale of investment securities available for sale   (81)
Gain on sale of premises and equipment (4) (14)
Increase in cash surrender value of life insurance (565) (520)
Deferred income tax (benefit) expense (431) 607
Stock compensation, including tax effects and expenses 348 369
Net change in:    
Accrued interest receivable (592) 309
Other assets (6,565) (2,436)
Accrued interest payable (258) 3,798
Other liabilities 1,901 (3,412)
Net cash provided by operating activities 4,965 17,562
Cash flows from investing activities:    
Proceeds from sales of investment securities available for sale   67,363
Proceeds from repayments of investment securities:    
Available for sale 10,887 19,728
Held to maturity 3,206 2,911
Net (purchase) redemption of restricted equity securities (2,556) 5,091
Net increase in loans (20,136) (113,538)
Purchases of premises and equipment (614) (4,476)
Proceeds from the sale of premises and equipment 44 14
Net cash used in investing activities (9,169) (22,907)
Cash flows from financing activities:    
Net (decrease) increase in deposits (214,078) 182,883
Proceeds from long-term debt   25,000
Repayment of long-term debt   (555)
Net increase (decrease) in short-term borrowings 86,660 (95,400)
Retirement of common stock   (1,897)
Cash dividends paid (5,787) (5,866)
Net cash (used in) provided by financing activities (133,205) 104,165
Net (decrease) increase in cash and cash equivalents (137,409) 98,820
Cash and cash equivalents at beginning of period 187,365 37,868
Cash and cash equivalents at end of period 49,956 136,688
Supplemental disclosures:    
Interest 39,397 22,008
Income taxes 504 1,722
Noncash items:    
U.S. Treasury bond matured - receivable 5,000  
Transfers of fixed assets to other real estate 1,556  
Transfers of loans to other real estate $ 27  
Removal of right-of-use assets   (785)
Removal of lease liability   $ (820)