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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 22,128 $ 20,974 $ 20,075
Adjustments to reconcile net income to net cash flows from operating activities-      
Depreciation, amortization and accretion 2,744 2,612 2,234
Provision for (recovery of) loan losses 250 (269) 2,014
Deferred income tax provision (benefit) (345) 294 134
Increase in cash surrender value of bank owned life insurance (1,074) (1,074) (1,124)
Bank owned life insurance death benefits in excess of cash surrender value 0 0 (317)
Equity Securities, FV-NI, Gain (Loss) 292 (141) (675)
Net gain on sales of securities 0 (303) (221)
Realized (gains) losses from sales of premises and equipment, net 455 (6) (53)
Realized gains from sale and impairment of other real estate owned and repossessed assets (889) 0 (11)
Origination of mortgage loans for sale (8,855) (33,824) (65,890)
Realized gains from sales of loans (196) (852) (2,297)
Proceeds from sales of loans 8,953 34,268 67,467
Compensation expense related to restricted stock 531 249 137
Changes in:      
Accrued income receivable 517 338 (4,573)
Other assets 2,453 (4,208) (6,795)
Accrued interest and other liabilities (1,722) (237) 3,573
TOTAL ADJUSTMENTS 3,114 (3,153) (6,397)
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES 25,242 17,821 13,678
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sales of equity securities 0 0 967
Proceeds from sales of debt securities, available-for-sale 0 21,235 8,786
Proceeds from maturities, calls, and paydowns of debt securities:      
Available-for-sale 20,680 33,093 66,170
Held-to-maturity 4,317 4,285 5,297
Purchases of equity securities (19) (16) (369)
Purchases of debt securities:      
Available-for-sale (39,331) (161,786) (102,920)
Held-to-maturity (1,223) (2,447) (2,582)
Net increase in loans (31,720) (67,649) (54,196)
Proceeds from bank owned life insurance mortality benefits 0 0 958
Proceeds from sales of other real estate owned and repossessed assets 1,605 0 208
Purchases of premises and equipment (884) (1,940) (2,791)
Proceeds from sales of premises and equipment 875 6 421
NET CASH FLOWS USED IN INVESTING ACTIVITIES (44,912) (175,219) (80,051)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase (decrease) in deposits (23,849) 173,396 107,143
Net increase in short-term borrowings 71,455 0 0
Proceeds from long-term debt 15,000 0 0
Principal payments on long-term debt (5,928) (12,000) (19,000)
Proceeds from issuance of common stock 408 434 401
Payments for Repurchase of Common Stock 23,660 8,310 1,872
Proceeds from exercise of stock options 0 4 114
Cash dividends paid on common stock (9,191) (9,720) (9,448)
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES 24,235 143,804 77,338
Net change in cash 4,565 (13,594) 10,965
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 18,136 31,730 20,765
CASH AND CASH EQUIVALENTS AT END OF YEAR 22,701 18,136 31,730
CASH PAID DURING THE YEAR FOR:      
Interest 4,677 4,228 7,809
Income taxes 4,130 3,665 3,811
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING ACTIVITY:      
Transfer from loans to other real estate owned and repossessed assets 717 0 0
Payments to Acquire Federal Home Loan Bank Stock (374) 0 0
Proceeds from Sale of Federal Home Loan Bank Stock $ 1,162 $ 0 $ 0