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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 3,361 $ 3,292
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 538 479
Net amortization of loans and investment securities 914 842
Amortization of subordinate debt issuance costs 11 12
Provision for credit losses 452 529
Change in fair value of equity securities 41 24
Realized losses on sales of debt securities 602
Loans originated for sale (3,439) (5,007)
Proceeds from sale of loans 3,429 5,363
Gain on sale of loans held for sale (58) (73)
Increase in cash surrender value of life insurance (112) (108)
Gain from claims on life insurance policies (78)
Change in fair value of derivative (1) 1
Stock based compensation 130 135
Decrease (increase) in other assets 762 (168)
Increase in other liabilities 1,354 1,794
Net cash provided by operating activities 7,304 7,717
Cash flows from investing activities    
Net decrease in long-term interest-earning deposits in other banks 2,240 4,498
Proceeds from sales and calls of investment securities available for sale 32,855
Proceeds from maturities and pay-downs of securities available for sale 11,997 8,452
Purchase of investment securities available for sale (3,510) (4,325)
Increase in restricted stock (7,920)
Net increase in loans (20,617) (26,654)
Proceeds from surrender of life insurance policies 559
Capital expenditures (861) (111)
Net cash (used in) provided by investing activities (18,112) 14,715
Cash flows from financing activities    
Net decrease in demand deposits, interest-bearing checking, and savings accounts (18,129) (65,523)
Net increase in time deposits 39,463 16,185
Increase in long-term borrowings 200,000
Net (decrease) increase in short-term borrowings (50,000) 50,000
Dividends paid (1,399) (1,405)
Purchase of Treasury shares (39) (316)
Cash received from option exercises 13 14
Treasury shares issued under dividend reinvestment plan 329 277
Net cash provided by (used in) financing activities 170,238 (768)
Increase in cash and cash equivalents 159,430 21,664
Cash and cash equivalents at the beginning of the period 23,140 64,899
Cash and cash equivalents at the end of the period 182,570 86,563
Cash paid during the period for:    
Interest on deposits and other borrowed funds $ 9,902 $ 3,268