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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net earnings $ 12,106 $ 11,976
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation, amortization and accretion 2,416 4,914
Provision for credit losses 1,161 889
Deferred income taxes (248) (31)
Loss on sale of investment securities, net 2,488 0
Gain on sale of premises and equipment (185) 0
Restricted stock expense (7) (95)
Proceeds from sales of mortgage loans held for sale 11,031 20,475
Origination of mortgage loans held for sale (12,668) (17,813)
Change in:    
Cash surrender value of life insurance (318) (301)
Right of use lease asset 578 568
Other assets (93) (2,944)
Lease liability (553) (556)
Other liabilities 1,357 232
Net cash provided by operating activities 17,066 17,314
Cash flows from investing activities:    
Purchases of investment securities available for sale (6,992) (139,657)
Proceeds from sales, calls and maturities of investment securities available for sale 52,023 7,870
Proceeds from paydowns of investment securities available for sale 13,898 31,186
Proceeds from paydowns on other investments 112 1,011
Purchases of FHLB stock (323) (105)
Net change in loans (45,862) (120,252)
Purchases of premises and equipment (1,522) (4,196)
Proceeds from sale of premises and equipment 1,460 0
Proceeds from bank owned life insurance 0 65
Net cash provided (used) by investing activities 12,793 (224,078)
Cash flows from financing activities:    
Net change in deposits (54,447) 88,343
Net change in securities sold under agreement to repurchase 35,336 892
Common stock repurchased (1,673) (594)
Cash dividends paid on common stock (4,052) (3,915)
Net cash provided (used) by financing activities (24,836) 84,726
Net change in cash and cash equivalents 5,023 (122,038)
Cash and cash equivalents at beginning of period 71,596 277,499
Cash and cash equivalents at end of period 76,619 155,461
Cash paid during the period for:    
Interest 10,766 2,112
Income taxes 3,462 3,069
Noncash investing and financing activities:    
Change in unrealized loss on investment securities available for sale, net (3,392) (45,953)
Issuance of accrued restricted stock units 6 41
Initial recognition of lease right-of-use asset and lease liability 370 1,726
Allowance for credit losses record upon adoption of ASU 326, net of tax $ (838) $ 0