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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 10,846 $ 11,143
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses (225) 0
Depreciation 1,230 1,356
Amortization 4,970 5,506
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 487 493
Net losses (gains) on sales of available for sale securities 0 427
Net change in market value of equity securities 322 683
Gains on sales of loans (943) (1,691)
Loans originated for sale (29,192) (53,750)
Proceeds from loan sales 25,684 53,480
Earnings on bank-owned life insurance (532) (534)
Proceeds from BOLI policy 0 130
Earnings on death benefit from bank-owned life insurance 0 (14)
(Gains)/losses on sales of other real estate owned 0 (41)
Proceeds from sales of other real estate owned 0 235
Deferred federal income tax (benefit)/expense 59 169
Net change in:    
Other assets 6,649 (768)
Other liabilities 5,856 5,480
Net cash provided by operating activities 25,211 22,304
Cash flows from investing activities:    
Sales of securities available for sale 0 31,828
Sales of equity securities 42 0
Maturities, prepayments and calls of securities available for sale 15,159 27,404
Maturities, prepayments and calls of securities held to maturity 5,091 3,485
Purchases of securities available for sale (774) (32,676)
Purchases of securities held to maturity (597) (5,748)
Purchase of Federal Home Loan Bank stock (4,849) 0
Loan originations and payments, net (74,553) (59,602)
Additions to premises and equipment (2,212) (701)
Proceeds from (payments for) derivative contracts, net (48) (16,745)
Payments for derivative contracts settlements (4,191) 0
Net cash provided by (used in) investing activities (66,932) 52,755
Cash flows from financing activities:    
Net change in deposits (31,615) 86,210
Net change in short term borrowings 110,000 (43,000)
Issuance of common stock 116 80
Repurchase of common stock 0 (682)
Cash dividends (3,913) (3,747)
Net cash provided by financing activities 74,588 38,861
Net change in cash and cash equivalents 32,867 8,409
Beginning cash and cash equivalents 43,943 31,887
Ending cash and cash equivalents 76,810 40,296
Supplemental disclosures of cash flow information:    
Cash paid for interest 10,269 2,182
Cash paid for income taxes 2,900 0
Loans transferred to other real estate owned $ 266 $ 0