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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,157 $ 4,523
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation, amortization, and accretion 720 772
Provision for (recovery of) credit losses (57) 49
(Benefit from) provision for deferred income taxes (648) 93
Increase in cash surrender value of bank-owned life insurance (271) (265)
Loss on equity securities 31 126
Realized gain from sales of premises and equipment 0 (12)
Origination of mortgage loans for sale (335) (5,159)
Realized gains from sales of loans (6) (124)
Proceeds from sales of mortgage loans 338 5,223
Compensation expense related to restricted stock 316 197
Changes in:    
Accrued interest receivable (523) (365)
Other assets 597 3,025
Other liabilities (1,827) (3,480)
TOTAL ADJUSTMENTS (1,665) 80
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES 2,492 4,603
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of equity securities 963 0
Available-for-sale 2,769 9,801
Held-to-maturity 108 99
Purchases of equity securities (7) (4)
Purchases of debt securities, available-for-sale (300) (12,092)
Payments to Acquire Federal Home Loan Bank Stock (3,306) 0
Proceeds from Sale of Federal Home Loan Bank Stock 754 0
Net (increase) decrease in loans 6,912 (9,827)
Purchases of premises and equipment (588) (59)
Proceeds from sale of premises and equipment 0 12
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES 7,305 (12,070)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposits (1,089) 7,787
Net increase in short-term borrowings 5,045 24,746
Principal payments on long-term debt (474) 0
Proceeds from issuance of common stock 103 105
Repurchase of common stock (1,838) (21,086)
Cash dividends paid on common stock (2,369) (2,280)
NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES (622) 9,272
NET CHANGE IN CASH AND CASH EQUIVALENTS 9,175 1,805
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 22,701 18,136
CASH AND CASH EQUIVALENTS AT END OF PERIOD 31,876 19,941
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 3,433 836
Income Taxes Paid, Net 0 $ (468)
Right-of-use assets obtained in exchange for new operating lease liabilities $ 0