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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 28,275 $ 29,638 $ 23,159
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 1,302 1,406 1,031
Provision for credit losses 21,145 4,468 4,175
Amortization of premiums and discounts on securities 381 812 30
Gain on sales of loans (331) (486) (435)
Net loss on sale of available-for-sale debt securities 16 127 0
Stock-based compensation expense 2,164 1,384 1,040
Gain on sale of premises and equipment (77) (24) (1)
Cash receipts from the sale of loans originated for sale 10,535 33,776 23,954
Cash disbursements for loans originated for sale (10,922) (32,826) (23,659)
Deferred income tax (benefit) (1,259) (1,423) 235
Changes in      
Interest receivable and other assets (2,536) (1,865) 907
Interest payable and other liabilities 432 4,727 (303)
Net cash provided by operating activities 49,125 39,714 30,133
Investing Activities      
Net cash (paid) received for acquisition (16,482) 0 20,432
Maturities of interest-bearing time deposits in other banks 8,471 2,490 13,175
Purchases of interest-bearing time deposits in other banks (20,676) (4,727) 0
Proceeds from sale of available-for-sale debt securities 0 11,820 1,173
Maturities, prepayments and calls of available-for-sale debt securities 7,422 19,736 290
Purchases of available-for-sale debt securities 0 (133,052) 0
Net change in loans (106,762) (242,105) (77,951)
Purchases of premises and equipment (2,834) (294) (599)
Proceeds from sale of premises and equipment 78 3,370 17
Change in nonmarketable equity securities (74) (7) (30)
Net cash used in investing activities (130,857) (342,769) (43,493)
Financing Activities      
Net change in deposits 159,991 211,829 68,470
Cash distributions (6,323) (4,366) (3,982)
Shares purchased and retired for restricted stock units (513) (454) (178)
Net settlement of stock options 503 309 0
Common stock issued for restricted stock units 1 0 1
Net cash provided by financing activities 153,659 207,318 64,311
Net Increase/(Decrease) in Cash and Due from Banks 71,927 (95,737) 50,951
Cash and Due from Banks, Beginning of Period 109,115 204,852 153,901
Cash and Due from Banks, End of Period 181,042 109,115 204,852
Supplemental Disclosure of Cash Flows Information      
Interest paid 37,935 9,100 3,222
Income taxes paid 10,800 9,981 7,511
Dividends declared and not paid 1,932 1,463 1,089
Measurement period goodwill adjustment (146) 124 0
Supplemental Disclosure of Investing Activities      
Cash consideration for acquisition 0 0 29,266
Fair value of assets acquired in acquisition 0 0 267,327
Fair value of liabilities assumed in acquisition $ 0 $ 0 $ 245,528