XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 3,435 $ 6,497
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 3,500 2,050
Accretion of certain acquisition-related discounts, net (155) (228)
Share-based compensation 510 474
Depreciation and amortization 937 988
Amortization of premiums and accretion of discounts on securities, net 397 281
Reversal of provision for indemnifications (140)  
Income from bank-owned life insurance (106) (83)
Pension expense 226 236
Proceeds from sales of loans held for sale 87,479 105,023
Origination of loans held for sale (94,769) (115,734)
Gains on sales of loans held for sale (1,288) (1,794)
Other gains, net 194 328
Change in other assets and liabilities:    
Accrued interest receivable (197) 126
Other assets 2,347 2,317
Accrued interest payable 1,151 662
Other liabilities (2,626) (978)
Net cash provided by operating activities 895 165
Investing activities:    
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 37,324 19,729
Purchases of securities available for sale (8,313) (14,364)
Purchases of time deposits, net 491 (744)
Repayments on loans held for investment by non-bank affiliates 45,387 39,057
Purchases of loans held for investment by non-bank affiliates (49,842) (41,904)
Net increase in community banking loans held for investment (73,617) (36,068)
Purchases of corporate premises and equipment (485) (515)
Proceeds from sales of other real estate owned   29
Other investing activities, net (566) (4,714)
Net cash used in investing activities (49,621) (39,494)
Financing activities:    
Net decrease in demand and savings deposits (41,169) (122,178)
Net increase in time deposits 62,971 114,116
Net (decrease) increase in short-term borrowings (30,418) 108,987
Proceeds from long-term borrowings 40,000  
Repurchases of common stock (1,031) (2,455)
Cash dividends paid (1,482) (1,521)
Other financing activities, net (97) (61)
Net cash provided by financing activities 28,774 96,888
Net (decrease) increase in cash and cash equivalents (19,952) 57,559
Cash and cash equivalents at beginning of period 75,159 26,661
Cash and cash equivalents at end of period 55,207 84,220
Supplemental cash flow disclosures:    
Interest paid 8,390 3,683
Supplemental disclosure of noncash investing and financing activities:    
Adoption of new accounting standard   $ 1,072
Liabilities assumed to acquire right of use assets under operating leases $ 2,487