XML 23 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net income $ 20,034 $ 21,554
Adjustments to reconcile net income to net cash provided by operating activities:    
(Reversal of) provision for credit losses (250) 1,100
Amortization of core deposit intangible 820 829
Stock-based compensation 846 820
Depreciation and amortization of bank premises and equipment 1,057 1,002
Accretion and amortization of securities, net 230 1,941
Net loss on sales/calls of available-for-sale securities 234 112
Gain on sale of loans held-for-sale (52) (111)
Provision (benefit) for deferred income taxes 603 (404)
Proceeds from sales of loans held-for-sale 4,590 5,918
Originations of loans held-for-sale (4,538) (5,807)
(Decrease) increase in deferred loan origination fees and costs, net (64) 752
Amortization of operating lease right-of-use asset 918 1,077
Gain on bargain purchase 0 (1,405)
Increase in interest receivable and other assets (412) (961)
(Decrease) increase in interest payable and other liabilities (4,479) 883
Net cash provided by operating activities 19,537 27,300
Cash flows from investing activities:    
Proceeds from maturities of available-for-sale securities 85,775 62,765
Proceeds from sales of available-for-sale securities 6,563 18,067
Principal repayments on available-for-sale securities 75,500 71,909
Purchase of available-for-sale securities (230,334) (91,324)
Proceeds from maturities of certificates of deposit 9,336 5,169
Purchase of certificates of deposit (5,700) (3,931)
Purchases of stock in Federal Home Loan Bank and other equity securities, at cost 0 (1,078)
Net decrease (increase) in loans 5,927 (80,173)
Purchases of bank premises and equipment, net (343) (1,221)
Cash and cash equivalents acquired in acquisition 0 103,425
Net cash (used in) provided by investing activities (53,276) 83,608
Cash flows from financing activities:    
Net increase (decrease) in deposits 7,645 (149,060)
Cash dividends paid in lieu of fractional shares (7) (7)
Common stock issued 102 96
Repurchases of common stock (3,764) (143)
Net cash provided by (used in) financing activities 3,976 (149,114)
Net (decrease) increase in cash and cash equivalents (29,763) (38,206)
Cash and cash equivalents at beginning of year 149,211 187,417
Cash and cash equivalents at end of year $ 119,448 $ 149,211