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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 12,628 $ 22,128 $ 20,974
Adjustments to reconcile net income to net cash flows from operating activities-      
Depreciation, amortization and accretion 2,989 2,744 2,612
Provision for (recovery of) credit losses 2,077 250 (269)
Deferred income tax provision (benefit) (323) (345) 294
Increase in cash surrender value of bank owned life insurance (1,136) (1,074) (1,074)
Realized and unrealized (gains) losses from equity securities, net 5 292 (141)
Realized gains from sales of debt securities available-for-sale, net 0 0 (303)
Realized (gains) losses from sales of premises and equipment, net (422) 455 (6)
Realized gains from sales of other real estate owned 0 (889) 0
Origination of mortgage loans for sale (4,306) (8,855) (33,824)
Net gains from sales of loans (697) (196) (852)
Proceeds from sales of loans 4,346 8,953 34,268
Compensation expense related to restricted stock 563 531 249
Changes in:      
Accrued income receivable 245 517 338
Other assets 8,694 2,453 (4,208)
Accrued interest and other liabilities (3,961) (1,722) (237)
TOTAL ADJUSTMENTS 8,074 3,114 (3,153)
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES 20,702 25,242 17,821
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sales of equity securities 963 0 0
Proceeds from sales of debt securities, available-for-sale 5,210 0 21,235
Proceeds from maturities, calls, and paydowns of debt securities:      
Available-for-sale 22,609 20,680 33,093
Held-to-maturity 3,295 4,317 4,285
Purchases of equity securities (1,598) (19) (16)
Purchases of debt securities:      
Available-for-sale (497) (39,331) (161,786)
Held-to-maturity (280) (1,223) (2,447)
Purchase of Federal Reserve Bank stock (434) 0 0
Proceeds from redemption of Federal Home Loan Bank stock 1,369 1,162 0
Purchase of Federal Home Loan Bank stock (4,622) (374) 0
Net increase in loans (83,709) (31,720) (67,649)
Proceeds from sales of other real estate owned 0 1,605 0
Purchases of premises and equipment (2,606) (884) (1,940)
Proceeds from sales of premises and equipment 654 875 6
Cash and cash equivalents acquired, net of cash paid for acquisition 1,893 0 0
NET CASH FLOWS USED IN INVESTING ACTIVITIES (57,753) (44,912) (175,219)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase (decrease) in deposits 8,887 (23,849) 173,396
Net increase (decrease) in short-term borrowings (30,059) 71,455 0
Proceeds from long-term debt 95,000 15,000 0
Principal payments on long-term debt (6,919) (5,928) (12,000)
Proceeds from issuance of common stock 428 408 434
Repurchase of common stock 3,326 23,660 8,310
Proceeds from exercise of stock options 0 0 4
Cash dividends paid on common stock (9,938) (9,191) (9,720)
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES 54,073 24,235 143,804
Net change in cash 17,022 4,565 (13,594)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 22,701 18,136 31,730
CASH AND CASH EQUIVALENTS AT END OF YEAR 39,723 22,701 18,136
CASH PAID DURING THE YEAR FOR:      
Interest 21,740 4,677 4,228
Income taxes 2,735 4,130 3,665
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING ACTIVITY:      
Transfer from loans to other real estate owned and repossessed assets $ 0 $ 717 $ 0