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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 3,292 $ 3,012
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 479 267
Net amortization of loans and investment securities 842 711
Amortization of subordinate debt issuance costs 12 10
Provision for credit losses 529
Change in fair value of equity securities 24 (11)
Realized losses on sales of debt securities 602
Loans originated for sale (5,007) (14,086)
Proceeds from sale of loans 5,363 14,025
Gain on sale of loans held for sale (73) (254)
Increase in cash surrender value of life insurance (108) (108)
Decrease in fair value of derivative 1 (8)
Stock based compensation 135 70
Decrease in other assets (168) (581)
Increase in other liabilities 1,794 1,399
Net cash provided by operating activities 7,717 4,446
Cash flows from investing activities    
Net decrease (increase) in long-term interest-earning deposits in other banks 4,498 (250)
Proceeds from sales and calls of investment securities available for sale 32,855
Proceeds from maturities and pay-downs of securities available for sale 8,452 1,227
Purchase of investment securities available for sale (4,325) (11,525)
Net increase in restricted stock (12)
Net increase in loans (26,654) (1,978)
Capital expenditures (111) (4,261)
Net cash provided by (used in) investing activities 14,715 (16,799)
Cash flows from financing activities    
Net (decrease) increase in demand deposits, interest-bearing checking, and savings accounts (65,523) 17,029
Net increase (decrease) in time deposits 16,185 (5,002)
Net increase in short-term borrowings 50,000
Dividends paid (1,405) (1,421)
Purchase of Treasury shares (316) (20)
Cash received from option exercises 14 13
Treasury shares issued under dividend reinvestment plan 277 314
Net cash (used in) provided by financing activities (768) 10,913
Increase (decrease) in cash and cash equivalents 21,664 (1,440)
Cash and cash equivalents at the beginning of the period 64,899 175,149
Cash and cash equivalents at the end of the period 86,563 173,709
Cash paid during the year for:    
Interest on deposits and other borrowed funds 3,268 475
Noncash Activities    
Lease liabilities arising from obtaining right-of-use assets $ 30