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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities    
Net income $ 11,257 $ 12,615
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,639 1,801
Credit loss benefit, net (499) 0
Deferred income tax provision (benefit) 266 (270)
Net amortization of premiums on investment securities 525 630
Equity in losses of limited partnerships 1,387 1,138
Stock based compensation expense 374 446
Net increase in unamortized loan costs (416) (631)
Proceeds from sales of loans held for sale 76,755 78,976
Origination of loans held for sale (77,484) (65,321)
Net gains on sales of loans held for sale (1,163) (1,004)
Net gains on disposals of premises and equipment (1) 0
Net gains on sales of investment securities available-for-sale 0 (31)
Net (gains) losses on other investments (189) 60
Increase in accrued interest receivable (1,245) (916)
Amortization of debt issuance costs 34 34
Increase in other assets (3,079) (225)
Increase in other liabilities 1,030 1,729
Net cash provided by operating activities 9,191 29,031
Interest bearing deposits in banks    
Proceeds from maturities and redemptions 8,212 7,968
Purchases (6,474) (11,200)
Investment securities available-for-sale    
Proceeds from sales 0 6,827
Proceeds from maturities, calls and paydowns 16,697 23,509
Purchases (24,922) (58,784)
Net purchases of other investments (47) (192)
Net increase in nonmarketable stock (383) (1,652)
Net increase in loans (70,121) (171,111)
Recoveries of loans charged off 4 7
Net purchases of premises and equipment (1,946) (665)
Investments in limited partnerships (3,288) (2,290)
Proceeds from sales of premises and equipment 16 0
Net cash used in investing activities (82,252) (207,583)
Cash Flows From Financing Activities    
Advances on long-term borrowings 90,696 0
Repayment of long-term borrowings (35,000) 0
Net (decrease) increase in short-term borrowings outstanding (40,000) 50,000
Net (decrease) increase in noninterest bearing deposits (35,153) 21,257
Net increase in interest bearing deposits 2,967 39,243
Net increase in time deposits 135,877 46,330
Purchase of treasury stock (130) (79)
Dividends paid (6,415) (6,236)
Net cash provided by financing activities 112,842 150,515
Net increase (decrease) in cash and cash equivalents 39,781 (28,037)
Cash and cash equivalents    
Beginning of year 37,885 65,922
End of year 77,666 37,885
Supplemental Disclosures of Cash Flow Information    
Interest paid 17,956 4,394
Income taxes paid 925 950
Supplemental Schedule of Noncash Investing and Financing Activities    
Investment in limited partnerships acquired by capital contributions payable 2,303 3,494
Right-of-use operating lease assets obtained in exchange for operating lease liabilities 407 641
Dividends paid on Common Stock:    
Dividends declared 6,491 6,296
Dividends reinvested (76) (60)
Dividends paid $ 6,415 $ 6,236