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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 26,645 $ 28,401 $ 20,347
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 755 897 881
Amortization 9,662 8,102 4,622
Stock-based compensation 497 405 470
Provision for (reversal of) credit losses 1,000 (4,300) 3,275
Net realized losses (gains) on sales and calls of available-for-sale investment securities 1,730 (501) (4,252)
Net gain on sale and disposal of equipment (15) (8) (6)
Net change in equity investments 858 218 (162)
Increase in bank owned life insurance, net of expenses (985) (840) (551)
Net increase in accrued interest receivable and other assets (7,082) (2,052) (1,128)
Net (decrease) increase in accrued interest payable and other liabilities (7,153) 8,989 1,165
Benefit (provision) for deferred income taxes 224 1,465 (1,051)
Net cash provided by operating activities 24,194 42,855 16,990
Cash flows used in investing activities:      
Purchases of available-for-sale investment securities (301,699) (495,879) (540,362)
Proceeds from sales or calls 252,331 26,222 283,956
Proceeds from maturity and principal repayment of available-for-sale investment securities 67,795 54,822 35,914
Net (increase) decrease in loans (216,523) 60,738 (154,331)
Purchases of premises and equipment (362) (1,049) (1,492)
Payment to Acquire Life Insurance Policy, Investing Activities 0 10,000 250
Payments for (Proceeds from) Federal Home Loan Bank Stock 574 0 (467)
Net cash used in investing activities (197,596) (365,137) (372,607)
Cash Flows From Financing Activities:      
Net (decrease) increase in demand, interest-bearing and savings deposits (1,041) 399,903 393,308
Net (decrease) increase in time deposits (22,107) 184 (3,883)
Proceeds from issuance of subordinated debt 0 34,299 0
Proceeds from short-term borrowings from Federal Home Loan Bank 2,452,826 0 0
Repayments of short-term borrowings to Federal Home Loan Bank (2,406,826) 0 0
Proceeds from Issuance of Senior Long-term Debt 30,000 0 0
Purchase and retirement of common stock 6,814 13,619 11,052
Proceeds from stock issued under employee stock purchase plan 216 204 199
Proceeds from exercise of stock options 489 257 279
Cash dividend payments on common stock (5,638) (5,757) (5,530)
Net cash provided by financing activities 41,105 415,471 373,321
(Decrease) increase in cash and cash equivalents (132,297) 93,189 17,704
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 163,467 70,278 52,574
CASH AND CASH EQUIVALENTS AT END OF YEAR 31,170 163,467 70,278
Cash paid during the year for:      
Interest 2,831 1,166 1,706
Income taxes 8,314 8,155 5,120
Operating Lease, Payments 2,221 2,259 2,240
Non-cash investing and financing activities:      
Gain (Loss) on Bank Owned Life Insurance 0 0 (1,167)
Proceeds from Life Insurance Policy 0 0 3,485
Proceeds from Sale of Property, Plant, and Equipment 15 9 6
Decrease Deferred Loan Costs 422 (3,483) 4,127
Accretion (Amortization) of Discounts and Premiums 1,520 1,404 1,326
Transfer Of Securities From Available-For-Sale to Held-to-Maturity 332,007 0 0
Transfer Of Unrealized Loss On Securities From Available-For-Sale To Held-To-Maturity (25,328) 0 0
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities $ 1,421 $ 0 $ 0