XML 20 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net income $ 20,569 $ 15,060
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 2,933 1,620
Depreciation 3,301 3,799
Stock based compensation 483 527
Gains on sales of other real estate owned (161) (599)
Write-downs of other real estate owned, net 23
Originations of loans held for sale (10,641) (4,832)
Proceeds from sales of loans held for sale 10,692 4,770
Gains from sales of loans held for sale (414) (381)
Losses on disposal of fixed assets, net   29
Net accretion of investment securities discounts and premiums- AFS (96) (51)
Net accretion of investment securities discounts and premiums- HTM (597) (805)
Amortization of intangible assets 330 330
Net losses on sales of investment securities - available-for-sale   4,214
Earnings on bank owned life insurance (1,345) (1,261)
Amortization of deferred loan fees (175) (98)
Amortization of operating lease right of use asset 163 787
Decrease/(increase) in accrued interest receivable and other assets 2,553 (4,932)
Deferred tax benefit (825) (889)
Amortization of operating lease liabilities (172) (1,073)
(Decrease)/increase in accrued interest payable and other liabilities (4,317) 6,232
Net cash provided by operating activities 22,281 22,470
Investing activities    
Proceeds from maturities/calls of investment securities - AFS 8,581 7,497
Proceeds from maturities/calls of investment securities - HTM 43,929 26,110
Proceeds from sales of investment securities available-for-sale   20,249
Purchases of investment securities available-for-sale (6,678)  
Purchases of investment securities held-to-maturity (4,546) (3,988)
Proceeds from sales of other real estate owned 1,826 1,041
Proceeds from disposal of fixed assets   14
Net increase in FHLB stock (518) (4,223)
Net increase in loans (79,106) (128,056)
Purchases of premises and equipment (1,923) (353)
Net cash used in investing activities (38,435) (81,709)
Financing activities    
Net increase/(decrease) in deposits 23,852 (19,756)
Proceeds from issuance of common stock 290 293
Cash dividends paid on common stock (5,373) (5,217)
Net increase/(decrease) in short-term borrowings 19,991 (19,147)
Stock repurchase (4,032) (1,496)
Proceeds from long-term borrowings 90,000 80,000
Payments of long-term borrowings (80,000)  
Net cash provided by financing activities 44,728 34,677
Increase/(decrease) in cash and cash equivalents 28,574 (24,562)
Cash and cash equivalents at beginning of the year 49,753 74,315
Cash and cash equivalents at end of period 78,327 49,753
Supplemental information    
Interest paid 32,138 23,825
Taxes paid 5,383 6,126
Non-cash investing activities:    
Transfers from loans to other real estate owned 271 $ 225
Transfers from loans to other repossessed assets $ 2,747