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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 5,057 $ 7,040
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 1,372 1,188
Provision for credit losses on loans 125 180
Provision (benefit) for credit losses (50) 225
Deferred income tax expense (benefit) 219 (71)
Stock-based compensation expense 459 445
Proceeds from sale of loans held-for-sale 10,857 11,105
Originations of loans held-for-sale (9,588) (9,795)
Earnings from bank-owned life insurance (349) (321)
Gain from bank-owned life insurance claim 0 (142)
Net gain from sales of loans (203) (164)
Net loss from sales of investment securities 0 1
Net (gain) loss from write-down and disposal of bank premises and equipment (4) 2
Operating lease payments 8 22
Change in:    
Accrued interest receivable (306) (179)
Other assets (575) (895)
Accrued interest payable and other liabilities (1,688) (1,589)
Net cash provided by operating activities 5,334 7,052
Cash flows from investing activities:    
Proceeds from sales 0 31,208
Proceeds from maturities, calls and principal pay-downs 4,992 7,142
Increase in restricted investments in bank stock (54) (700)
Net increase in loans and leases (12,881) (63,082)
Principal portion of lease payments received under direct finance leases 1,138 1,407
Purchases of bank premises and equipment (1,303) (718)
Proceeds from death benefits received on bank-owned life insurance 0 931
Proceeds from sale of bank premises and equipment 19 22
Net cash used in investing activities (8,089) (23,790)
Cash flows from financing activities:    
Net increase (decrease) in deposits 57,573 (23,812)
Net (decrease) increase in other borrowings (92,072) 75,991
Repayment of finance lease obligation (49) (59)
Proceeds from employee stock purchase plan participants 280 302
Repurchase of shares to cover withholdings (79) (68)
Dividends paid, net of dividends reinvested (2,114) (1,669)
Net cash (used in) provided by financing activities (36,461) 50,685
Net (decrease) increase in cash and cash equivalents (39,216) 33,947
Cash and cash equivalents, beginning 111,949 29,091
Cash and cash equivalents, ending 72,733 63,038
Supplemental Disclosures of Cash Flow Information    
Interest 11,355 5,075
Income tax 0 0
Supplemental Disclosures of Non-cash Investing Activities:    
Net change in unrealized losses on available-for-sale securities (2,416) 9,825
Cumulative-effect adjustment for adoption of ASU 2016-13 0 (1,326)
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity 584 572
Transfers from/(to) loans to/(from) foreclosed assets held-for-sale 219  
Transfers from/(to) loans to/(from) foreclosed assets held-for-sale   (82)
Transfers to loans from loans held-for-sale, net 0 (205)
Right-of-use asset 1,391 0
Lease liability $ 1,483 $ 0