XML 18 R9.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 8,851 $ 10,141
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation, amortization, and accretion 1,543 1,500
Provision for (recovery of) credit losses (27) 426
(Benefit from) provision for deferred income taxes (710) 24
Increase in cash surrender value of bank-owned life insurance (548) (534)
Loss on equity securities 45 304
Realized gain from sales of premises and equipment (426) (15)
Impairment of Long-Lived Assets to be Disposed of 0 140
Origination of mortgage loans for sale (505) (8,468)
Realized gains from sales of loans (9) (188)
Proceeds from sales of mortgage loans 508 8,563
Compensation expense related to restricted stock 398 304
Changes in:    
Accrued interest receivable (329) 551
Other assets 239 3,397
Other liabilities (2,020) (3,926)
TOTAL ADJUSTMENTS (1,841) 1,189
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES 7,010 11,330
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of equity securities 963 0
Available-for-sale 11,531 13,679
Held-to-maturity 1,035 1,211
Purchases of equity securities (14) (8)
Available-for-sale (497) (32,789)
Payments to Acquire Held-to-Maturity Securities (280) (755)
Payments to Acquire Federal Home Loan Bank Stock (3,414) 0
Proceeds from Sale of Federal Home Loan Bank Stock 1,369 0
Net increase in loans (37,541) (4,391)
Purchases of premises and equipment (1,110) (283)
Proceeds from sale of premises and equipment 513 32
NET CASH FLOWS USED IN INVESTING ACTIVITIES (27,445) (21,699)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposits (8,261) 30,006
Net increase in short-term borrowings 40,834 5,000
Proceeds from Issuance of Other Long-Term Debt 0 15,000
Principal payments on long-term debt (950) 0
Proceeds from issuance of common stock 204 201
Repurchase of common stock (3,326) (21,600)
Cash dividends paid on common stock (4,747) (4,559)
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES 23,754 24,048
NET CHANGE IN CASH AND CASH EQUIVALENTS 3,319 13,679
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 22,701 18,136
CASH AND CASH EQUIVALENTS AT END OF PERIOD 26,020 31,815
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 7,899 1,930
Income Taxes Paid, Net 1,401 1,332
Right-of-use assets obtained in exchange for new operating lease liabilities 0  
Proceeds from sale of other real estate owned 0 1,605
Gains (Losses) on Sales of Other Real Estate $ 0 $ (889)