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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
     Net income $ 7,077 $ 6,021
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 553 544
Change in deferred taxes 310 319
Credit loss expense (reduction) 392 (513)
Loans originated for resale (3,041) (363)
Proceeds from sales and transfers of loans 3,099 373
Net gain on sales of loans (58) (10)
Net amortization of premiums on investments 127 135
Net gain on sale of other real estate owned (33) 0
Equity compensation expense 298 231
Net increase in other assets and accrued interest (3,631) (5,982)
Net decrease in other liabilities (3,214) (2,385)
Net (gain) loss on disposal of premises and equipment (15) 9
Amortization of investment in limited partnership 309 117
Net acquisition amortization 7 7
     Net cash provided (used) by operating activities 2,180 (1,497)
Cash flows from investing activities    
Decrease in interest-bearing deposits in other banks 19,162 577
Proceeds from maturities, payments and calls of securities available for sale 8,471 5,359
Proceeds from maturities, payments, calls and sales of securities to be held to maturity 1,129 6,011
Proceeds from sales of other real estate owned 206 0
Purchases of securities available for sale (9,652) (1,968)
Change in restricted equity securities (306) (2,548)
Net increase in loans (42,363) (44,214)
Capital expenditures (1,352) (326)
Proceeds from disposal of premises and equipment 22 0
     Net cash used by investing activities (24,683) (37,109)
Cash flows from financing activities    
Net decrease in demand, savings, and money market accounts (68,621) (45,854)
Net increase (decrease) in certificates of deposit 54,705 (4,820)
Net increase in short-term borrowings 64,166 15,127
Advances on long-term borrowings 0 70,000
Repayment on long-term borrowings (25,000) 0
Payment to repurchase common stock (277) (211)
Proceeds from sale of common stock 225 204
Dividends paid (3,899) (3,907)
Net cash provided by financing activities 21,299 30,539
Net decrease in cash and cash equivalents (1,204) (8,067)
Cash and cash equivalents at beginning of period 27,636 31,942
     Cash and cash equivalents at end of period 26,432 23,875
Interest paid 20,843 19,521
Non-cash transactions    
Change in net unrealized loss on available for sale securities, net of tax $ (3,969) $ 3,241