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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities    
Net income $ 14,188 $ 14,672
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 792 730
Accretion and amortization of investment securities premiums and discounts, net 505 1,591
Increase in deferred loan origination fees and costs, net 43 759
Amortization of core deposit intangible 617 603
Provision for credit losses 200 3,100
Stock-based compensation 626 516
Losses on sales/calls of available-for-sale securities 155 64
Amortization of operating lease right-of-use asset 701 806
Gains on sales of loans held-for-sale (41) (93)
Proceeds from sales of loans held-for-sale 3,155 5,277
Originations of loans held-for-sale (3,114) (5,553)
Gain on bargain purchase 0 (1,405)
Changes in assets and liabilities:    
(Increase) decrease in interest receivable and other assets (1,128) 4,128
Decrease in interest payable and other liabilities (3,492) (196)
Net cash provided by operating activities 13,207 24,999
Cash Flows From Investing Activities    
Proceeds from calls or maturities of available-for-sale securities 59,785 30,766
Proceeds from sales of available-for-sale securities 4,652 16,987
Principal repayments on available-for-sale securities 54,745 54,864
Purchases of available-for-sale securities (164,641) (57,391)
Proceeds from maturities of certificates of deposit 6,166 3,687
Purchases of certificates of deposit (5,700) (3,435)
Net decrease (increase) in loans 9,918 (66,781)
Purchases of Federal Home Loan Bank stock and other equity securities, at cost 0 (1,078)
Purchases of premises and equipment (221) (1,045)
Cash and cash equivalents acquired in acquisition 0 103,425
Net cash (used in) provided by investing activities (35,296) 79,999
Cash Flows From Financing Activities    
Net increase (decrease) in deposits 39,598 (95,160)
Cash dividends paid in lieu of fractional shares (7) (7)
Repurchases of common stock (2,795) (143)
Net cash provided by (used in) by financing activities 36,796 (95,310)
Net increase in Cash and Cash Equivalents 14,707 9,688
Cash and Cash Equivalents, beginning of period 149,211 187,417
Cash and Cash Equivalents, end of period 163,918 197,105
Cash paid during the period for:    
Interest 10,753 3,699
Income taxes 6,320 0
Supplemental disclosures of non-cash investing and financing activities:    
Stock dividend distributed 6,392 5,652
Unrealized holding gains (losses) on available for sale securities, net of taxes 10,740 (2,676)
Market value of shares tendered in-lieu of cash to pay for exercise of options 348 361
Recognition of right-of-use assets obtained in exchange for operating lease liabilities 0 245
Non-cash assets acquired (liabilities assumed) in acquisition:    
Total assets acquired 0 12,612
Total liabilities assumed $ 0 $ (115,916)