XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.3
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 $ 19,763 $ 22,839
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,657 1,563
Change in deferred taxes 111 (1,283)
Credit loss (reduction) expense (639) 501
Loans originated for resale (3,146) (3,082)
Proceeds from sales and transfers of loans 3,231 3,157
Net gain on sales of loans (85) (68)
Net amortization of premiums on investments 444 423
Net gain on sale of other real estate owned 0 (42)
Provision for losses on other real estate owned 35 0
Equity compensation expense 680 607
Net increase in other assets and accrued interest (6,297) (6,858)
Net (decrease) increase in other liabilities (1,649) 8,156
Net loss on disposal of premises and equipment 9 33
Amortization of investment in limited partnership 504 227
Net acquisition amortization 20 20
     Net cash provided by operating activities 14,638 26,193
Cash flows from investing activities    
Increase in interest-bearing deposits in other banks (13,711) (34,673)
Proceeds from maturities, payments and calls of securities available for sale 20,982 17,037
Proceeds from maturities, payments, calls and sales of securities to be held to maturity 10,495 6,023
Proceeds from sales of other real estate owned 0 106
Purchases of securities available for sale (17,762) (29,409)
Purchases of securities to be held to maturity (2,750) 0
Change in restricted equity securities (3,035) 0
Redemption of restricted equity securities 0 23
Net increase in loans (178,096) (165,280)
Capital expenditures (496) (2,253)
Proceeds from disposal of premises and equipment 0 3
     Net cash used by investing activities (184,373) (208,423)
Cash flows from financing activities    
Net increase in demand, savings, and money market accounts 47,977 79,565
Net increase in certificates of deposit 55,079 141,495
Net decrease in short-term borrowings (13,625) (20,490)
Advances on long-term borrowings 95,000 0
Payment to repurchase common stock (212) (248)
Proceeds from sale of common stock 638 608
Dividends paid (11,928) (11,534)
Net cash provided by financing activities 172,929 189,396
Net increase in cash and cash equivalents 3,194 7,166
Cash and cash equivalents at beginning of period 31,942 22,728
     Cash and cash equivalents at end of period 35,136 29,894
Interest paid 63,260 43,643
Income taxes paid 3,577 4,500
Non-cash transactions    
Change in net unrealized loss on available for sale securities, net of tax (5,181) 9,134
Net transfer from loans to other real estate owned $ 208 $ 0