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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 22,093 $ 18,277
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 600 3,750
Depreciation 1,109 1,117
Amortization of intangible assets 78 96
Deferred income taxes 417 497
Net amortization of securities premiums and discounts 1,038 1,133
Net realized gain on sales of securities   (56)
Earnings and proceeds on life insurance policies (892) (767)
Gain on sales and write-downs of fixed assets and foreclosed real estate owned, net (379) (52)
Net amortization of loan fees (281) (2,734)
Net gain on sale of loans (1) (177)
Loans originated for sale (435) (8,616)
Proceeds from sale of loans originated for sale 437 8,793
Compensation expense related to stock options 201 160
Compensation expense related to restricted stock 272 251
(Increase) deccrease in accrued interest receivable (414) 183
Increase (decrease) in accrued interest payable 222 (260)
Other, net 319 1,407
Net cash provided by operating activities 24,384 23,002
Securities available for sale:    
Proceeds from sales   3,841
Proceeds from maturities and principal reductions on mortgage-backed securities 32,945 52,770
Purchases (130,828) (197,750)
Purchase of regulatory stock (1,019) (3,327)
Redemption of regulatory stock 2,726 3,410
Net (increase) decrease in loans (76,553) 40,969
Proceeds from bank-owned life insurance policies 761 511
Purchase of bank-owned life insurance (3,000)  
Purchase of premises and equipment (1,295) (809)
Proceeds from sales of bank premises and fixed assets   157
Proceeds from sales of foreclosed real estate owned 1,823 158
Net cash used in investing activities (174,440) (100,070)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 12,003 186,880
Net increase in short-term borrowings 10,932 14,943
Repayments of other borrowings (29,998) (9,323)
Stock options exercised 399 182
Purchase of treasury stock (2,204) (961)
Cash dividends paid (6,880) (6,413)
Net cash (used in) provided by financing activities (15,748) 185,308
(Decrease) increase in cash and cash equivalents (165,804) 108,240
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 206,681 111,693
CASH AND CASH EQUIVALENTS - END OF PERIOD 40,877 219,933
Cash payments for:    
Interest on deposits and borrowings 3,885 4,660
Income taxes paid, net of refunds 5,372 4,214
Supplemental Schedule of Noncash Investing Activities:    
Transfers of loans to foreclosed real estate owned and repossession of other assets 161 1,638
Dividends payable $ 2,281 $ 2,131