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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
     Net income $ 15,365 $ 19,702
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,012 996
Change in deferred taxes (1,503) 48
Provision for credit losses 701 900
Loans originated for resale (1,679) (16,880)
Proceeds from sales and transfers of loans 1,993 17,342
Net gain on sales of loans (39) (316)
Net gain on sale or call of securities 0 (1)
Net amortization of premiums on investments 263 508
Equity compensation expense 398 412
Net increase in other assets and accrued interest (550) (5,732)
Net (decrease) increase in other liabilities (226) 2,103
Net (gain) loss on disposal of premises and equipment 1 (14)
Amortization of investment in limited partnership 152 152
Net acquisition amortization 13 35
     Net cash provided by operating activities 15,901 19,255
Cash flows from investing activities    
(Increase) decrease in interest-bearing deposits in other banks (285) 43,807
Proceeds from maturities, payments and calls of securities available for sale 10,619 27,123
Proceeds from maturities, payments, calls and sales of securities to be held to maturity 3,441 12,907
Purchases of securities available for sale (3,496) (47,998)
Purchases of securities to be held to maturity 0 (22,683)
Change in restricted equity securities (1,344) 0
Redemption of restricted equity securities 0 645
Net increase in loans (146,391) (140,977)
Capital expenditures (586) (1,107)
Proceeds from disposal of premises and equipment 0 37
     Net cash used by investing activities (138,042) (128,246)
Cash flows from financing activities    
Net decrease in demand, savings, and money market accounts (60,973) (9,480)
Net increase in certificates of deposit 181,958 138,205
Net (decrease) increase in short-term borrowings (13,998) 45,250
Advances on long-term borrowings 25,000 0
Repayment on long-term borrowings (4) (55,004)
Payment to repurchase common stock (249) (276)
Proceeds from sale of common stock 408 385
Dividends paid (7,652) (7,270)
Net cash provided by financing activities 124,490 111,810
Net increase in cash and cash equivalents 2,349 2,819
Cash and cash equivalents at beginning of period 22,728 20,634
     Cash and cash equivalents at end of period 25,077 23,453
Interest paid 26,369 4,503
Income taxes paid 3,170 3,216
Non-cash transactions    
Change in net unrealized loss on available for sale securities, net of tax (937) 31,077
Net transfer from loans to other real estate owned $ 64 $ 51