XML 18 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 10,336 $ 11,288
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 251 295
(Accretion)Amortization of premiums and discounts on securities 59 (374)
Gain on sales of loans (93) (51)
Stock-based compensation expense 652 604
Cash receipts from the sale of loans originated for sale 5,220 4,157
Cash disbursements for loans originated for sale (7,195) (3,388)
Deferred income tax (benefit) expense 79 (125)
Changes in    
Interest receivable and other assets 303 3,568
Interest payable and other liabilities 1,386 4,472
Net cash provided by operating activities 10,998 20,446
Investing Activities    
Net cash paid for acquisition (2,750) 0
Maturities of interest-bearing time deposits in other banks 1,984 2,245
Purchases of interest-bearing time deposits in other banks (8,212) (1,747)
Maturities, prepayments and calls of available-for-sale debt securities 1,145 102,322
Purchases of available-for-sale debt securities (40) (83,877)
Net change in loans (26,603) (13,047)
Purchases of premises and equipment (2,803) (668)
Change in nonmarketable equity securities 5 5
Net cash provided by (used in) investing activities (37,274) 5,233
Financing Activities    
Net change in deposits 35,819 (11,219)
Cash distributions (2,254) (1,932)
Shares purchased and retired for restricted stock units (1,015) (417)
Net settlement of stock options 100 65
Net cash provided by (used in) financing activities 32,650 (13,503)
Net Increase in Cash and Due from Banks 6,374 12,176
Cash and Due from Banks, Beginning of Period 234,196 181,042
Cash and Due from Banks, End of Period 240,570 193,218
Supplemental Disclosure of Cash Flows Information    
Interest paid 9,749 11,182
Income taxes paid 0 97
Dividends declared and not paid $ 2,268 $ 1,940