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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net income $ 10,763 $ 8,750
Adjustments to reconcile net income to net cash used in operating activities:    
Provision (credit) for credit losses (567) (158)
Depreciation, amortization, accretion 1,271 1,119
Deferred taxes 473 160
Stock based compensation 188 106
Origination of mortgage servicing rights (306) (432)
Gain on sale of loans held for sale (37,907) (44,052)
Loans originated for sale (976,701) (1,106,930)
Proceeds on sales of loans originated for sale 988,691 1,093,219
(Increase) decrease in accrued interest receivable 243 (178)
Increase in cash surrender value of life insurance (1,495) (1,152)
Decrease (increase) in derivative assets 3,486 (2,061)
Increase in accrued interest on deposits and borrowings 773 3,022
Increase in accrued taxes 1,239 2,239
Gain on sale of mortgage servicing rights 0 (152)
(Decrease) increase in derivative liabilities (2,970) 867
Decrease (increase) in other assets 90 (322)
Increase (decrease) in other liabilities 1,024 (3,501)
Net cash used in operating activities (11,705) (49,456)
Investing activities:    
Net decrease (increase) in loans receivable 16,375 (14,541)
Debt securities (4,856) (4,000)
Mortgage related securities (18,423) (9,683)
Bank Owned Life Insurance (180) (180)
FHLB stock (2,105) (2,340)
Premises and equipment (324) (551)
Principal repayments on mortgage-related securities 12,307 10,737
Maturities of debt securities 5,595 4,223
FHLB Stock Repurchased 2,051 0
Sales of mortgage servicing rights 0 2,110
Net cash provided by (used in) investing activities 10,440 (14,225)
Financing activities:    
Net increase in deposits 24,810 33,299
Net change in short-term borrowings (40,793) 104,770
Repayment of long-term debt (40,000) (145,000)
Proceeds from long-term debt 100,000 90,000
Net change in advance payments by borrowers for taxes 1,284 2,383
Cash dividends on common stock (5,472) (5,761)
Purchase of common stock returned to authorized but unissued (9,667) (11,116)
Proceeds from stock option exercises 2,265 1
Net cash provided by financing activities 32,427 68,576
Increase in cash and cash equivalents 31,162 4,895
Cash and cash equivalents at beginning of period 39,761 36,421
Cash and cash equivalents at end of period 70,923 41,316
Supplemental information:    
Income tax payments 1,075 454
Interest payments 30,929 36,131
Noncash activities:    
Dividends declared but not paid in other liabilities $ 2,903 $ 2,980