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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities:    
Net Income $ 11,227 $ 11,354
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses - loans 490 500
Depreciation 1,202 966
Amortization of intangibles 344 481
Net amortization of security discounts/premiums 127 197
Noncash operating lease expense 509 419
Amortization of finance lease right of use asset 45 45
Earnings on cash surrender value of life insurance (254) (246)
Mortgage loans originated for sale (24,615) (10,488)
Proceeds from sales of mortgage loans originated for sale 24,797 15,057
Gain on sale of mortgage loans (384) (529)
SBA loans originated for sale 0 (669)
Proceeds from sales of SBA loans originated for sale 0 721
Loss on sale of SBA loans 0 9
Gain on sale of property, plant, and equipment (31) (45)
Loss on sale of bank premises and equipment held for sale 0 809
Write-off of bank premises and equipment held for sale 0 705
Accretion of subordinated debt (147) (140)
Stock compensation expense 249 168
Change in deferred income tax benefit 706 321
Increase accrued interest receivable (800) (256)
Decrease (increase) in other assets 775 (1,749)
Increase in accrued interest payable 3,506 276
Decrease in operating lease liability (580) (555)
Decrease in other liabilities (4,217) (6,438)
Net Cash Provided By Operating Activities 12,949 10,913
Investing Activities:    
Proceeds from the maturity or call of available-for-sale securities 3,743 1,478
Purchases of available-for-sale securities 0 (90,330)
Proceeds from the maturity or call of held-to-maturity securities 2,611 5,898
Purchases of held-to-maturity securities 0 (39,928)
Stock dividends of FHLB and other bank stock 110 0
Reduction of restricted investment in bank stock 164 1,497
Net (increase) decrease in loans (97,156) (17,271)
Purchases of bank premises and equipment (922) (1,372)
Proceeds from the sale of premises and equipment 31 71
Net change in investments in tax credits and other partnerships (2,174) (4,376)
Net Cash Used In Investing Activities (93,593) (144,333)
Financing Activities:    
Net increase (decrease) in deposits 99,750 (12,979)
Common stock dividends paid (3,176) (3,191)
Proceeds from Employee and Director Stock Purchase Plan stock issuance 100 82
Riverview restricted stock [1] 0 776
Net change in finance lease liability (23) (22)
Net change in short-term borrowings (14,647) 0
Long-term debt repayment (70) (6,567)
Net Cash Provided by (Used In) Financing Activities 81,934 (21,901)
Net increase (decrease) in cash and cash equivalents 1,290 (155,321)
Cash and cash equivalents, beginning of period 60,881 913,752
Cash and cash equivalents, end of period 62,171 758,431
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 10,671 2,942
Supplemental Noncash Disclosures:    
Recognition of operating lease right of use assets 125 115
Recognition of operating lease liabilities 125 115
Obsolete Riverview asset write-off 0 705
Loans transferred to foreclosed assets held for sale $ 205 $ 125
[1] Additionally, 2,500 shares of restricted stock were paid out in cash resulting in $776 thousand of cash consideration relating to stock awards.