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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 6,394 $ 6,268
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,040 988
Net amortization of loans and investment securities 1,775 1,720
Amortization of subordinate debt issuance costs 19 20
Provision for credit losses 998 1,061
Change in fair value of equity securities 75 32
Realized losses on sales of debt securities 1,119
Loans originated for sale (13,227) (8,341)
Proceeds from sale of loans 12,682 8,616
Gain on sale of loans held for sale (174) (118)
Increase in cash surrender value of life insurance (224) (220)
Gain from claims on life insurance policies (78)
Change in fair value of derivative (2)
Stock based compensation 296 253
Decrease in other assets 877 1,573
(Decrease) increase in other liabilities (715) 414
Net cash provided by operating activities 9,736 13,385
Cash flows from investing activities    
Net decrease in long-term interest-earning deposits in other banks 4,235 4,997
Proceeds from sales and calls of investment securities available for sale 40,117
Proceeds from maturities and pay-downs of securities available for sale 24,548 16,062
Purchase of investment securities available for sale (8,025) (7,248)
Increase in restricted stock (8,000) (50)
Net increase in loans (61,419) (94,417)
Proceeds from surrender of life insurance policies 559
Capital expenditures (1,451) (228)
Net cash used in investing activities (49,553) (40,767)
Cash flows from financing activities    
Net decrease in demand deposits, interest-bearing checking, and savings accounts (2,754) (70,665)
Net increase in time deposits 51,234 32,352
Increase in long-term borrowings 200,000 70,000
Net decrease in short-term borrowings (50,000)
Dividends paid (2,806) (2,806)
Purchase of Treasury shares (440) (2,394)
Cash received from option exercises 15 17
Treasury shares issued under dividend reinvestment plan 1,155 811
Net cash provided by financing activities 196,404 27,315
Increase (decrease) in cash and cash equivalents 156,587 (67)
Cash and cash equivalents at the beginning of the period 23,140 64,899
Cash and cash equivalents at the end of the period 179,727 64,832
Cash paid during the period for:    
Interest on deposits and other borrowed funds 19,897 7,813
Income taxes 1,080 1,316
Noncash Activities    
Noncash extinguishment of lease liability 537
Noncash decrease in right-of-use asset $ 507