XML 17 R7.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net earnings $ 12,794 $ 12,106
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation, amortization and accretion 2,184 2,416
Provision for (recovery of) credit losses (80) 1,161
Deferred income taxes (63) (248)
Gain on sale of held for sale mortgage loans (211) (155)
(Gain) loss on sale of investment securities net (5) 2,488
Write-down of premises and equipment 362 0
Gain on sale of premises and equipment 0 (185)
Restricted stock expense 84 (7)
Proceeds from sales of mortgage loans held for sale 14,677 11,186
Origination of mortgage loans held for sale (14,998) (12,668)
Cash surrender value of life insurance (348) (318)
Change in:    
Right of use lease asset 537 578
Other assets (401) (93)
Lease liability (520) (553)
Other liabilities 1,264 1,357
Net cash provided by operating activities 15,276 17,065
Cash flows from investing activities:    
Purchases of investment securities available for sale (23,521) (6,992)
Proceeds from sales, calls and maturities of investment securities available for sale 14,708 52,023
Proceeds from paydowns of investment securities available for sale 12,449 13,898
Proceeds from paydowns of other investment securities 128 112
Purchase of FHLB stock (10) (323)
Net change in loans (31,456) (45,862)
Purchases of premises and equipment (427) (1,522)
Proceeds from sale of premises and equipment 0 1,460
Net cash provided (used) by investing activities (28,129) 12,794
Cash flows from financing activities:    
Net change in deposits 87,932 (54,447)
Net change in securities sold under agreement to repurchase (78,286) 35,336
Proceeds from Fed Funds purchased 0 43,275
Repayments of Fed Funds purchased 0 (43,275)
Common stock repurchased (1,998) (1,673)
Cash dividends paid on common stock (4,008) (4,052)
Net cash provided (used) by financing activities 3,640 (24,836)
Net change in cash and cash equivalents (9,213) 5,023
Cash and cash equivalents at beginning of period 82,375 71,596
Cash and cash equivalents at end of period 73,162 76,619
Supplemental disclosures of cash flow information:    
Cash paid during the period for: Interest 21,501 10,766
Cash paid during the period for: Income tax 3,149 3,462
Noncash investing and financing activities:    
Change in unrealized loss on investment securities available for sale, net 8,427 (3,392)
Restricted stock units issued 51 6
Initial recognition of lease right-of-use asset and lease liability 0 (370)
Allowance for credit losses recorded upon adoption of ASU 326, net of tax $ 0 $ (838)