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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities    
Net income $ 15,691 $ 25,932
Adjustment to reconcile net income to net cash provided by operating activities:    
(Recovery of) provision for credit losses (1,261) 706
Deferred income tax expense (benefit) 750 (109)
Depreciation of premises and equipment 754 609
Amortization of premiums and accretion of discounts, net 1,077 1,257
Gain on disposal of fixed assets 0 (9)
Loss on sale of securities available for sale, net 3,332 0
(Gain) loss and write-down on other real estate owned (1) 295
Loss on sale of repossessed items 4 0
Income on investment in BOLI (982) (958)
Gain on sale of mortgage loans held for sale (107) (157)
Origination of mortgage loans held for sale (7,624) (7,882)
Sale of mortgage loans held for sale 7,325 8,654
Equity-based compensation expense 42 0
Net change in:    
Accrued interest receivable (312) (897)
Other assets (1,721) (24)
Accrued interest payable 1,310 58
Other liabilities (2,754) 2,025
Net cash provided by operating activities 15,523 29,500
Cash Flows from Investing Activities    
Proceeds from repayments of mortgage-backed securities 12,984 32,664
Proceeds from calls, sales and maturities of securities available for sale 44,738 5,970
Purchases of securities available for sale 0 (117,341)
Net change in restricted stock (323) (96)
Purchases of loan participations (7,997) (19,051)
Collections of loan participations 7,200 21,452
Loan originations and principal collections, net (3,594) (52,271)
Proceeds from disposal of other real estate owned 663 0
Proceeds from disposal of repossessed assets 14 0
Recoveries on loans charged off 283 212
BOLI settlement 712 0
Additions to premises and equipment (1,492) (1,258)
Proceeds from sale of premises and equipment 0 9
Net cash provided by (used in) investing activities 53,188 (129,710)
Cash Flows from Financing Activities    
Net change in time deposits 155,611 (11,339)
Net change in other deposits (194,364) 59,477
Cash dividends paid (14,784) (8,950)
Shares repurchased 0 (6,338)
Net cash (used in) provided by financing activities (53,537) 32,850
Net change in cash and due from banks 15,174 (67,360)
Cash and due from banks at beginning of year 71,429 138,789
Cash and due from banks at end of year 86,603 71,429
Supplemental Disclosures of Cash Flow Information    
Interest paid on deposits and borrowed funds 20,240 3,025
Income taxes paid 2,545 3,861
Supplemental Disclosures of Noncash Activities    
Loans charged against the allowance for credit losses 478 367
Loans transferred to repossessed assets 11 7
Unrealized gain (loss) on securities available for sale 23,880 (106,678)
Minimum pension liability adjustment 44 5,781
Lease liabilities arising from obtaining right-of-use assets during the period $ 0 $ 161