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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities    
Net income $ 6,962 $ 11,324
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 745 734
Amortization of other assets 613 525
Origination of loans held for sale (27,627) (13,244)
Proceeds from sale of loans held for sale 24,805 14,515
Net (gains) on sales of loans (913) (1,544)
Provision for credit losses 1,283 900
(Gain) on other real estate owned (7) 0
(Gain) on the sale of marine finance assets (463) 0
(Gain) loss on the sale and disposal of premises and equipment (14) 3
Loss on the sale of securities 0 737
Amortization of subordinated debt issuance costs 51 33
Stock-based compensation expense 903 746
Premium amortization on securities, net 266 460
Bank owned life insurance income (542) (495)
Changes in assets and liabilities:    
(Increase) in other assets (5,472) (10,691)
Increase in other liabilities 12,297 1,108
Net cash provided by operating activities 12,887 5,111
Cash Flows from Investing Activities    
Proceeds from maturities, calls, and principal payments of securities available for sale 10,987 24,135
Proceeds from the sale of securities available for sale 0 10,813
Purchases of securities available for sale 0 (26,813)
Proceeds from the sale of restricted investments 4,975 0
Purchases of restricted investments (4,326) (3,559)
Purchases of bank premises and equipment (1,127) (493)
Proceeds from the sale of bank premises and equipment 39 33
Proceeds from the sale of other real estate owned 115 0
Changes in collateral posted with other financial institutions, net 0 (700)
Proceeds from sale of marine finance business 53,537 0
Proceeds from sales of loans 49,325 97,814
Origination of loans net of principal collected (218,755) (312,421)
Funding of capital commitments related to other investments (495) (485)
Net cash (used in) investing activities (105,725) (211,676)
Cash Flows from Financing Activities    
Net (decrease) increase in noninterest bearing demand deposits, savings, and interest bearing demand deposits (19,160) 69,614
Net increase in time deposits 253,465 7,265
Net (decrease) in federal funds purchased (32,980) 0
Net (decrease) in short-term Federal Home Loan Bank advances (175,000) 75,000
Advances of long-term Federal Home Loan Bank advances 145,000 0
Issuance of subordinated debt, net of issuance costs 0 29,327
Issuance of common stock employees benefit plan 133 142
Repurchase and retirement of common stock (303) (154)
Cash dividends paid (3,173) (2,762)
Net cash provided by financing activities 167,982 178,432
Increase (decrease) in cash and cash equivalents 75,144 (28,133)
Cash and Cash Equivalents    
Beginning 66,894 64,068
Ending 142,038 35,935
Supplemental Disclosures of Cash Flow Information    
Interest 22,016 1,436
Income taxes 1,706 2,541
Supplemental Schedule of Noncash Investing and Financing Activities:    
Unrealized (loss) on securities available for sale (3,927) (26,679)
Minimum postretirement liability adjustment (8) 0
Repossessed assets acquired in settlement of loans 304 0
Issuance of common stock, dividend investment plan 0 198
Sales of securities available for sale settled subsequent to quarter end $ 0 $ 4,557