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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 38,733 $ 38,058 $ 42,716
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 1,985 9,249 5,800
Depreciation and amortization 5,610 6,188 7,036
Stock-based compensation expense 2,307 2,269 2,316
Income on bank-owned life insurance, net (2,001) (1,264) (1,202)
Net losses on sales of debt securities 2 2,419 1,973
Net (gains) losses on equity securities (1,140) (666) 514
Mortgage loans originated for sale (11,978) (2,247) (1,263)
Proceeds from mortgage loans sold 11,814 2,081 1,293
Net gains on sales of loans (156) (34) (30)
Changes in:      
Net decrease (increase) in other assets 5,151 (12,818) (11,322)
Net (decrease) increase in other liabilities (3,796) 13,922 169
Net cash provided by operating activities 46,531 57,157 48,000
Cash flows from investing activities:      
Proceeds from sales of debt securities 212 84,779 69,620
Purchase of debt securities 0 0 (145,868)
Proceeds from maturities, calls and pay-downs of debt securities 77,345 88,176 82,834
Net purchases of equity securities (1,467) (2,123) (2,998)
Net purchases of FHLB capital stock (4,691) (59) (179)
Net increase in loans (415,473) (387,218) (260,073)
Additions to premises and equipment, net (2,467) (6,019) (4,838)
Net cash used in investing activities (346,541) (222,464) (261,502)
Cash flows from financing activities:      
Net increase (decrease) in deposits 210,177 (58,285) 55,567
Net increase in short-term borrowings 145,000 0 0
Advancements from long-term borrowings 38,800 22,957 302
Repayments of long-term borrowings (56,432) (405) (2,565)
Cash dividends paid, net of dividend reinvestment plan (10,277) (9,734) (8,521)
Proceeds from issuance of common stock 37 44 47
Net settlement for employee taxes on restricted stock and options (409) (447) (433)
Net proceeds from stock option exercises 363 180 118
Net cash provided by (used in) financing activities 327,259 (45,690) 44,515
Net increase (decrease) in cash and cash equivalents 27,249 (210,997) (168,987)
Cash and cash equivalents at beginning of year 56,592 267,589 436,576
Cash and cash equivalents at end of year $ 83,841 $ 56,592 $ 267,589