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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
OPERATING ACTIVITIES    
Net income $ 15,343 $ 5,726
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of branches (11,093) 0
Provision for credit losses 228 40
Depreciation 417 498
Amortization of intangible assets 1,084 1,207
Accretion of discounts, net (3,207) (3,268)
Origination of loans to be sold (2,523) (201)
Proceeds from loan sales 2,600 251
Gain on sale of loans (77) (50)
Share-based and deferred compensation 526 402
Bank-owned life insurance income (428) (383)
Change in accrued interest receivable and other assets (1,495) (2,046)
Change in accrued interest payable and other liabilities 1,204 (2,863)
Other, net 0 (84)
Net cash provided by (used in) operating activities 2,579 (771)
Investment securities available for sale:    
Proceeds from calls and maturities 0 295
Proceeds from principal repayments 3,666 2,357
Purchases (15,115) (22,622)
Investment securities held to maturity    
Proceeds from principal repayments 3,893 133
Purchase of restricted investment in bank stocks (3,000) (6,440)
Redemption of restricted investment in bank stocks 3,429 6,119
(Increase) decrease in loans, net (20,664) 213
Cash paid to buy-out minority interest   (483)
Purchase of premises and equipment (357) (452)
Proceeds from sale of branches, net 26,194 0
Net cash used in investing activities (1,954) (20,880)
FINANCING ACTIVITIES    
Increase in deposits, net 66,195 86,524
Change in short-term borrowings, net (10,000) (10,000)
Proceeds from long-term borrowings 0 40,000
Issuance of shares from exercise of stock options 0 11
Dividends paid (2,783) (2,845)
Net proceeds from issuance of common stock 45 54
Net cash provided by financing activities 53,457 113,744
Increase in cash and cash equivalents 54,082 92,093
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 166,100 80,190
CASH AND CASH EQUIVALENTS AT END OF PERIOD 220,182 172,283
SUPPLEMENTAL CASH FLOW DISCLOSURES    
Interest 13,595 12,844
Income taxes $ 0 $ 0