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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 12,220 $ 10,846
Adjustments to reconcile net income to net cash from operating activities:    
(Reversal of) provision for credit losses 0 (225)
Depreciation 1,272 1,230
Amortization 4,810 4,970
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 576 487
Net change in market value of equity securities 36 322
Gains on sales of loans (979) (943)
Loans originated for sale (29,067) (29,192)
Proceeds from loan sales 28,400 25,684
Earnings on bank-owned life insurance (604) (532)
Earnings on death benefit from bank-owned life insurance (196) 0
Deferred federal income tax (benefit)/expense 231 59
Net change in:    
Other assets 794 6,601
Other liabilities 13,557 5,856
Net cash provided by operating activities 31,050 25,163
Cash flows from investing activities:    
Sales of equity securities 0 42
Maturities, prepayments and calls of securities available for sale 17,962 15,159
Maturities, prepayments and calls of securities held to maturity 15,086 5,091
Purchases of securities available for sale (768) (676)
Purchases of equity securities (33) (98)
Purchases of securities held to maturity (700) (597)
Purchase of Federal Home Loan Bank stock (1) (4,849)
Loan originations and payments, net (27,232) (74,553)
Proceeds from bank owned life insurance death benefits claim 490 0
Additions to premises and equipment (794) (2,212)
Payments for derivative contracts settlements 0 (4,191)
Net cash provided by (used in) investing activities 4,010 (66,884)
Cash flows from financing activities:    
Net change in deposits 4,624 (31,615)
Net change in short term borrowings 10,073 110,000
Issuance of common stock 115 116
Share based compensation withholding obligation (220) 0
Cash dividends (4,083) (3,913)
Net cash provided by financing activities 10,509 74,588
Net change in cash and cash equivalents 45,569 32,867
Beginning cash and cash equivalents 55,433 43,943
Ending cash and cash equivalents 101,002 76,810
Supplemental disclosures of cash flow information:    
Cash paid for interest 24,686 10,269
Cash paid for income taxes 2,750 2,900
Loans transferred to other real estate owned $ 150 $ 266