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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 15,968 $ 16,956
Adjustments to reconcile net income to net cash from operating activities:    
Reversal of provision for credit losses (225) 100
Depreciation 1,854 2,041
Amortization 7,495 8,145
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 741 726
Net losses (gains) on sales of available for sale securities 71 805
Net change in market value of equity securities 456 1,006
Gains on sales of loans (1,479) (2,123)
Loans originated for sale (37,845) (68,434)
Proceeds from loan sales 38,330 70,155
Earnings on bank-owned life insurance (810) (793)
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 144 235
Deferred federal income tax (benefit)/expense 138 169
Net change in:    
Other assets 4,443 (4,461)
Other liabilities 28,049 7,423
Net cash provided by operating activities 57,330 32,025
Cash flows from investing activities:    
Sales of securities available for sale 0 47,167
Sales of equity securities 887 0
Maturities, prepayments and calls of securities available for sale 21,981 39,024
Maturities, prepayments and calls of securities held to maturity 10,218 6,277
Purchases of securities available for sale (110) (54,347)
Purchases of securities held to maturity (597) (7,505)
Purchase of Federal Home Loan Bank stock (4,849) 0
Proceeds from redemption of Federal Home Loan Bank stock 3,916 0
Loan originations and payments, net (120,271) (73,321)
Additions to premises and equipment (3,454) (1,238)
Proceeds from (payments for) derivative contracts, net 382 (16,547)
Payments for derivative contracts settlements (4,191) 0
Net cash flows from investing activities (96,088) (60,490)
Cash flows from financing activities:    
Net change in deposits 15,192 104,360
Net change in short term borrowings 130,000 (50,000)
Issuance of common stock 168 80
Repurchase of common stock 0 (682)
Share based compensation withholding obligation 0 (62)
Cash dividends (5,872) (5,624)
Cash related to equity issuance for merger 0 0
Net cash provided by financing activities 139,488 48,072
Net change in cash and cash equivalents 100,730 19,607
Beginning cash and cash equivalents 43,943 31,887
Ending cash and cash equivalents 144,673 51,494
Supplemental disclosures of cash flow information:    
Cash paid for interest 18,393 4,738
Cash paid for income taxes 3,900 200
Loans transferred to other real estate owned $ 266 $ 0