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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities:    
Net income $ 4,876 $ 2,922
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses on loans 75 350
Noncash contribution expense to employee stock ownership plan 417 425
Noncash director compensation expense 255 259
Stock-based compensation expense 168 205
Amortization of core deposit intangible 227 251
Amortization of investment security premiums, net of accretion of discounts 277 1,277
Accretion of discounts on acquired loans, net 45 (98)
Net change in deferred loan origination costs/fees (9) 34
Depreciation and amortization 322 388
Loss on disposal of premises and equipment 0 19
Earnings on bank-owned life insurance policies (544) (435)
Net changes in:    
Net changes in interest receivable and other assets 2,050 1,082
Net changes in interest payable and other liabilities (3,223) (2,353)
Total adjustments 60 1,404
Net cash provided by operating activities 4,936 4,326
Cash Flows from Investing Activities:    
Purchase of available-for-sale securities (33,561) 0
Proceeds from paydowns/maturities of held-to-maturity securities 44,681 10,252
Proceeds from paydowns/maturities of available-for-sale securities 18,316 10,057
Proceeds from sale of loan 1,295 0
Decrease in loans receivable, net 8,958 18,690
Purchase of bank-owned life insurance policies 0 (1,210)
Proceeds from bank-owned life insurance policies 504 0
Purchase of premises and equipment (314) (161)
Cash paid for low income housing tax credit investment 0 (1)
Net cash provided by investing activities 39,879 37,627
Cash Flows from Financing Activities:    
Net increase in deposits 81,956 (5,973)
Repayment of short-term borrowings, net 0 (26,000)
Repayment of finance lease obligations (38) (38)
Restricted stock surrendered for tax withholdings upon vesting (96) (55)
Cash dividends paid on common stock (4,025) (4,042)
Proceeds from stock issued under employee and director stock purchase plans 8 10
Net cash used in financing activities 77,805 (36,098)
Net increase in cash, cash equivalents and restricted cash 122,620 5,855
Cash, cash equivalents and restricted cash at beginning of period 137,304 30,453
Cash, cash equivalents and restricted cash at end of period 259,924 36,308
Supplemental disclosure of cash flow information:    
Interest paid on deposits and borrowings 10,806 11,087
Supplemental disclosure of noncash investing and financing activities:    
Change in net unrealized gains or losses on available-for-sale securities 3,289 (4,568)
Amortization of net unrealized loss on available-for-sale securities transferred to held-to-maturity $ 340 $ 361