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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 6,457 $ 5,613
Adjustments to reconcile net income to net cash provided by operating activities:    
Net accretion of acquisition accounting estimates (646) (525)
Provision for credit losses 1,213 600
Depreciation and amortization 1,383 1,558
Net amortization of securities 249 454
Amortization of debt issuance costs 31 31
(Gain) on mortgage banking activities (719) (1,679)
Proceeds from sale of mortgage loans held for sale 21,947 66,560
Originations of loans held for sale (20,710) (41,165)
Stock-based compensation expense 155 130
Deferred income tax expense (benefit) (126) 29
(Gains) loss on valuation adjustments on mortgage servicing rights 82 (554)
Valuation adjustments on premises transferred to held for sale 225  
Losses on sales and valuation adjustments on other real estate owned (3) (9)
Fair value adjustments on loans held for investments, at fair value (195)  
Fair value adjustment on equity securities (17) 70
Bank owned life insurance income (364) (193)
Net changes in:    
Accrued interest receivable 1,291 (545)
Other assets (1,408) (976)
Accrued interest payable 320 (323)
Other liabilities 2,055 (3,877)
Net cash provided by operating activities 11,220 25,199
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and principal payments of investment securities available for sale 3,175 7,049
Proceeds from maturities and principal payments of investment securities held to maturity 10,017 11,268
Purchases of securities held to maturity   (14,093)
Purchases of equity securities (8) (3)
Purchase of restricted securities (11,421) (5,735)
Net change in loans (111,681) (61,201)
Purchases of premises and equipment (619) (974)
Proceeds from sales of other real estate owned 21 83
Improvements to other real estate owned   (34)
Redemption of restricted securities 7,523  
Purchases of bank owned life insurance (129) (10,058)
Net cash (used in) investing activities (103,122) (73,698)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Noninterest-bearing deposits (53,336) (51,082)
Interest-bearing deposits 38,249 93,431
Short-term borrowings 91,500 (4,143)
Common stock dividends paid (2,388) (2,381)
Issuance of common stock 87 37
Net cash provided by financing activities 74,112 35,862
Net (decrease) in cash and cash equivalents (17,790) (12,637)
Cash and cash equivalents at beginning of period 55,499 583,613
Cash and cash equivalents at end of period 37,709 570,976
Supplemental cash flows information:    
Interest paid 12,711 2,270
Income taxes paid 215  
Recognition (remeasurement of) lease liabilities arising from right-of-use assets (5) (728)
Transfer of premises to held for sale and included in other assets 750  
Transfers from loans to other real estate owned   69
Unrealized gain (loss) on securities available for sale $ 1,183 $ (3,065)