XML 21 R9.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 14,613 $ 15,465 $ 10,099
Adjustments to reconcile net income to net cash (used) provided in operating activities      
Depreciation 1,663 1,714 1,637
Net premium amortization AFS 1,869 2,317 2,016
Net premium amortization HTM (264)
Provision for loan losses (152) 335 3,663
Write-downs of other real estate owned 69 50 128
Loss (gain) loss on sale of other real estate owned 45 (77) (147)
Originations of HFS loans (64,495) (139,773) (197,608)
Sales of HFS loans 69,836 177,673 163,743
Amortization of intangibles 158 201 363
Gain on sale of securities (99)
Loss on fair value of equity investments (2) (4)
Accretion on acquired loans (49) (135) (271)
Write-down of premises held for sale
Gain on sale of other assets 73 (117)
(Increase) decrease in other assets (1,696) 994 (911)
Increase (decrease) in other liabilities 457 (715) 341
Net cash (used) provided in operating activities 22,125 57,928 (17,046)
Cash flows from investing activities:      
Proceeds from sale of securities available-for-sale 1,200
Proceeds from sale of securities held-to-maturity
Purchase of investment securities available-for-sale (105,943) (271,293) (111,972)
Purchase of investment securities held-to-maturity (11,270)
Purchase of other investment securities (2,406) (87) (70)
Maturity/call of investment securities available-for-sale 61,958 53,872 46,933
Maturity/call of investment securities held-to-maturity 11,745
Proceeds from sale of other investments 355
Increase in loans (116,797) (19,100) (106,874)
Proceeds from sale of other real estate owned 117 201 349
Proceeds from sale of fixed assets 925 1,414
Purchase of property and equipment (1,223) (813) (1,087)
Net disposal of property and equipment 115 19
Purchase of BOLI (850)
Net cash used in investing activities (162,779) (236,282) (171,521)
Cash flows from financing activities:      
Increase in deposit accounts 24,091 171,878 201,213
Increase in Fed Funds Borrowed 22,000
Advances from the Federal Home Loan Bank 118,000 34,001
Repayment of advances from the Federal Home Loan Bank (68,000) (34,212)
Increase in securities sold under agreements to repurchase 14,527 13,302 7,618
Deferred compensation shares 90 200
Shares Retired (42) (70) (15)
Restricted Stock Units Granted 1,447
Change in non-vested restricted stock 507 363 259
Dividend reinvestment plan 388 368 372
Repurchase of common stock
Proceeds from issuance of common stock 28 46 4
Dividends paid on Common Stock (3,913) (3,593) (3,573)
Net cash provided in financing activities 109,033 182,384 205,867
Net increase in cash and cash equivalents (31,621) 4,030 17,300
Cash and cash equivalents at beginning of year 69,022 64,992 47,692
Cash and cash equivalents at end of year 37,401 69,022 64,992
Supplemental disclosure:      
Cash paid during the period for: interest 3,058 3,312 4,258
Income Taxes 3,893 5,097 3,043
Non-cash investing and financing activities:      
Unrealized gain (loss) on securities available-for-sale, net of tax (23,285) (8,008) 8,797
Unrealized loss on securities held-to-maturity, net of tax (12,380)
Transfer of investment securities available-for-sale to held-to-maturity 245,619
Transfer of loans to other real estate owned 145 114
Recognition of operating lease right of use asset
Recognition of operating lease liability
Transfer of investment securities held-to-maturity to available-for-sale