XML 18 R9.htm IDEA: XBRL DOCUMENT v3.22.2.2
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 4,636 $ 2,740
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 1,201 1,300
Provision for loan and lease losses 2,781 1,517
Deferred income tax provision (309) 160
Net gain on sale and prepayment of investment securities   (22)
Stock-based compensation expense 361 324
Net amortization of securities 169 243
Amortization of intangible assets 213 268
Net gain on premises and equipment and other real estate (350) (71)
Changes in assets and liabilities:    
(Increase) decrease in accrued interest receivable (135) 215
Decrease in other assets 750 672
Increase (decrease) in accrued interest expense 495 (109)
Decrease in other liabilities (310) (140)
Net cash provided by operating activities 9,502 7,097
Cash flows from investing activities:    
Net (increase) decrease in federal funds sold (38) 3
Purchases of investment securities, available-for-sale (39,256) (65,535)
Proceeds from maturities and prepayments of investment securities, available-for-sale 15,111 32,592
Proceeds from maturities and prepayments of investment securities, held-to-maturity 1,317 2,492
Net (increase) decrease in Federal Home Loan Bank stock (1,139) 265
Proceeds from the sale of premises and equipment and other real estate 2,892 1,630
Net increase in loans (45,590) (61,135)
Purchases of premises and equipment (672) (648)
Net cash used in investing activities (67,375) (90,336)
Cash flows from financing activities:    
Net increase in deposits 8,411 64,630
Net increase in short-term borrowings 30,060 20
Net share-based compensation transactions   (7)
Treasury stock repurchases (4,481) 0
Dividends paid (541) (559)
Net cash provided by financing activities 33,449 64,084
Net decrease in cash and cash equivalents (24,424) (19,155)
Cash and cash equivalents, beginning of period 61,244 94,415
Cash and cash equivalents, end of period 36,820 75,260
Supplemental disclosures:    
Interest 2,031 2,332
Income taxes 1,804 752
Non-cash transactions:    
Assets acquired in settlement of loans 656 668
Closed branch assets transferred to other real estate 390 1,978
Reissuance of treasury stock as compensation $ 138 $ 59