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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 5,633 $ 5,528
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 25 0
Depreciation 609 672
Amortization 2,500 2,673
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 235 226
Net change in market value of equity securities (63) 356
Gains on sales of loans (403) (804)
Loans originated for sale (10,283) (29,531)
Proceeds from loan sales 11,753 25,896
Earnings on bank-owned life insurance (263) (280)
Proceeds from BOLI policy 0 130
Earnings on death benefit from bank-owned life insurance 0 (14)
(Gains)/losses on sales of other real estate owned 0 (41)
Proceeds from sales of other real estate owned 0 235
Deferred federal income tax (benefit)/expense 252 248
Net change in:    
Other assets 995 173
Other liabilities (1,821) (2,665)
Net cash provided by operating activities 9,169 2,802
Cash flows from investing activities:    
Maturities, prepayments and calls of securities available for sale 7,052 13,157
Maturities, prepayments and calls of securities held to maturity 2,990 1,078
Purchases of securities available for sale (393) (28,197)
Purchases of securities held to maturity (421) (3,160)
Purchase of Federal Home Loan Bank stock (1,678) 0
Proceeds from redemption of Federal Home Loan Bank stock 0 331
Loan originations and payments, net (20,701) 31,816
Additions to premises and equipment (1,025) (526)
Proceeds from (payments for) derivative contracts, net (551) 0
Payments for derivative contracts settlements (4,191) 0
Net cash provided by (used in) investing activities (18,918) 14,499
Cash flows from financing activities:    
Net change in deposits (12,102) 93,307
Net change in short term borrowings 35,000 (50,000)
Issuance of common stock 52 35
Repurchase of common stock 0 (682)
Cash dividends (1,955) (1,872)
Net cash provided by financing activities 20,995 40,788
Net change in cash and cash equivalents 11,246 58,089
Beginning cash and cash equivalents 43,943 31,887
Ending cash and cash equivalents 55,189 89,976
Supplemental disclosures of cash flow information:    
Cash paid for interest 4,557 1,413
Cash paid for income taxes 0 0
Loans transferred to other real estate owned $ 130 $ 172