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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 5,634 $ 5,633
Adjustments to reconcile net income to net cash from operating activities:    
(Reversal of) provision for credit losses 0 25
Depreciation 636 609
Amortization 2,427 2,500
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 295 235
Net change in market value of equity securities (35) (63)
Gains on sales of loans (454) (403)
Loans originated for sale (18,507) (10,283)
Proceeds from loan sales 17,427 11,753
Earnings on bank-owned life insurance (299) (263)
Earnings on death benefit from bank-owned life insurance (196) 0
Deferred federal income tax (benefit)/expense 301 252
Net change in:    
Other assets (1,410) 995
Other liabilities 9,495 (1,821)
Net cash provided by operating activities 15,314 9,169
Cash flows from investing activities:    
Maturities, prepayments and calls of securities available for sale 5,879 7,052
Maturities, prepayments and calls of securities held to maturity 9,531 2,990
Purchases of securities available for sale (466) (323)
Purchases of equity securities (20) (70)
Purchases of securities held to maturity 0 (421)
Purchase of Federal Home Loan Bank stock 0 (1,678)
Loan originations and payments, net (7,986) (20,701)
Proceeds from bank owned life insurance death benefits claim 490 0
Additions to premises and equipment (311) (1,025)
Proceeds from (payments for) derivative contracts, net 497 (551)
Payments for derivative contracts settlements 0 (4,191)
Net cash provided by (used in) investing activities 7,614 (18,918)
Cash flows from financing activities:    
Net change in deposits 63,793 (12,102)
Net change in short term borrowings 10,036 35,000
Issuance of common stock 56 52
Share based compensation withholding obligation (78) 0
Cash dividends (2,039) (1,955)
Net cash provided by financing activities 71,768 20,995
Net change in cash and cash equivalents 94,696 11,246
Beginning cash and cash equivalents 55,433 43,943
Ending cash and cash equivalents 150,129 55,189
Supplemental disclosures of cash flow information:    
Cash paid for interest 15,278 4,557
Cash paid for income taxes 0 0
Loans transferred to other real estate owned $ 0 $ 130