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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 29,233 $ 24,915
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 900 4,200
Depreciation 1,470 1,481
Amortization of intangible assets 101 123
Deferred income taxes 419 (383)
Net amortization of securities premiums and discounts 1,303 1,529
Net realized gain on sales of securities (3) (92)
Earnings and proceeds on life insurance policies (1,087) (941)
Gain (loss) on sales of fixed assets and foreclosed real estate owned (379) 108
Net amortization of loan fees (217) (3,497)
Net gain on sale of loans (3) (177)
Loans originated for sale (845) (8,616)
Proceeds from sale of loans originated for sale 848 8,793
Compensation expense related to stock options 269 214
Compensation expense related to restricted stock 372 335
(Increase) decrease in accrued interest receivable (1,028) 343
Increase (decrease) in accrued interest payable 1,450 (398)
Other, net (2,069) 1,261
Net cash provided by operating activities 30,734 29,198
Securities available for sale:    
Proceeds from sales 5,113 11,366
Proceeds from maturities and principal reductions on mortgage-backed securities 40,780 68,218
Purchases (130,828) (268,242)
Purchase of regulatory stock (6,366) (4,201)
Redemption of regulatory stock 4,875 4,255
Net (increase) decrease in loans (118,999) 57,938
Proceeds from bank-owned life insurance policies 761 511
Purchase of bank-owned life insurance (3,000)  
Purchase of premises and equipment (2,153) (1,258)
Proceeds from sales of foreclosed real estate owned 1,823 291
Proceeds from sales of bank premises and fixed assets   158
Net cash used in investing activities (207,994) (130,964)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net (decrease) increase in deposits (29,066) 221,151
Net increase (decrease) in short-term borrowings 32,393 (2,481)
Repayments of other borrowings (29,998) (12,461)
Proceeds from other borrowings 40,000  
Stock options exercised 657 394
Sale of treasury stock for ESOP 132 130
Acquisition of treasury stock (2,515) (1,440)
Cash dividends paid (9,158) (8,539)
Net Cash Provided by Financing Activities 2,445 196,754
Net (Decrease) increase in cash and cash equivalents (174,815) 94,988
CASH AND CASH EQUIVALENTS - BEGINNING 206,681 111,693
CASH AND CASH EQUIVALENTS - END 31,866 206,681
Cash payments for:    
Interest paid 5,819 6,155
Income taxes paid, net of refunds 6,891 5,330
Supplemental Schedule of Noncash Investing Activities:    
Transfers of loans to foreclosed real estate owned and repossession of other assets 776 1,740
Dividends payable $ 2,366 $ 2,296