XML 18 R9.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Consolidated Statements Of Cash Flows [Abstract]    
Net income $ 12,702 $ 13,493
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 1,442 150
Depreciation 426 375
Amortization, net (671) (674)
Deferred income tax (benefit) expense (97) 57
Originations of loans held for sale (8,809) (94,548)
Proceeds from sale of loans held for sale 8,119 121,540
Net gains on sales of residential mortgage loans (85) (678)
Net gains on sales of commercial loans (12) (277)
Loss on sale of other assets held for sale 13  
Impairment of property and equipment   570
Loss on disposal of premises and equipment 60  
Earnings on bank owned life insurance (462) (446)
Stock-based compensation expense 875 648
Net change in:    
Accrued interest receivable and other assets (3,116) (6,915)
Operating lease right-of-use asset 487 426
Operating lease liability (489) (444)
Accrued interest payable and other liabilities (312) (299)
Net cash from operating activities 10,071 32,978
Cash flows used by investing activities:    
Available-for-sale securities: Maturities, prepayments and calls 1,510 3,013
Loan and lease originations and payments, net (88,571) (263,938)
Purchase of loans and leases   (3,698)
Proceeds from the sale of loans 361 10,451
Additions to premises and equipment (648) (798)
Purchase of FRB and FHLB Stock (557) (318)
Purchase of other investments (1,200)  
Return of investment-joint ventures 492 398
Proceeds from the sale of other assets held for sale 1,892  
Net cash used by investing activities (86,721) (254,890)
Cash flows from financing activities:    
Net change in deposits 157,071 243,631
Proceeds from FHLB advances and other debt 37,060 33,500
Repayments on FHLB advances and other debt (36,560) (20,450)
Net change in advances by borrowers for taxes and insurance (1,776) (179)
Cash dividends paid on common stock (1,090) (835)
Proceeds from exercise of stock options 44 132
Acquisition of treasury shares surrendered upon vesting of restricted stock for payment of taxes and exercise of stock options for exercise proceeds (123) (73)
Purchase of treasury shares   (2,339)
Net cash from financing activities 154,626 253,387
Net change in cash and cash equivalents 77,976 31,475
Beginning cash and cash equivalents 151,787 166,591
Ending cash and cash equivalents 229,763 198,066
Supplemental cash flow information:    
Interest paid 41,018 9,818
Income tax paid 3,175 2,450
Supplemental noncash disclosures:    
Loans transferred from held for sale to portfolio   1,674
Transfer of premises and equipment to other assets held for sale   1,930
Investment payable on limited partnerships 940 $ 3,097
Initial recognition of operating lease liability 4,267  
Right-of-use asset obtained in exchange for new operating lease liability $ 4,267