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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,253 $ 6,895
Adjustments to reconcile net income to net cash provided by operating activities:    
(Credit) provision for credit losses (352) 891
Realized gains on available-for-sale debt securities, net (7) (2)
Net amortization of securities 530 714
Increase in cash surrender value of life insurance (138) (135)
Depreciation and amortization of bank premises and equipment 570 507
Net accretion of purchase accounting adjustments (84) (340)
Stock-based compensation 377 368
Deferred income taxes 526 770
Decrease (increase) in fair value of servicing rights 83 (2)
Gains on sales of loans, net (74) (382)
Origination of loans held for sale (2,493) (14,752)
Proceeds from sales of loans held for sale 2,265 13,661
Increase in accrued interest receivable and other assets (851) (963)
Increase (decrease) in accrued interest payable and other liabilities 2,982 (1,663)
Other (38) 81
Net Cash Provided by Operating Activities 9,549 5,648
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of certificates of deposit 1,250 0
Proceeds from sales of available-for-sale debt securities 16,658 0
Proceeds from calls and maturities of available-for-sale debt securities 17,024 18,746
Purchase of available-for-sale debt securities (2,000) (62,949)
Redemption of Federal Home Loan Bank of Pittsburgh stock 3,634 337
Purchase of Federal Home Loan Bank of Pittsburgh stock (5,462) (282)
Net (increase) decrease in loans (4,392) 26,807
Purchase of premises and equipment (276) (993)
Proceeds from sale of foreclosed assets 0 139
Other 70 75
Net Cash Provided by (Used in) Investing Activities 26,506 (18,120)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (decrease) increase in deposits (81,536) 35,952
Net increase in short-term borrowings 13,334 554
Proceeds from long-term borrowings - FHLB advances 43,403 0
Repayments of long-term borrowings - FHLB advances (7,026) (7,380)
Sale of treasury stock 0 141
Purchases of treasury stock (1,865) (3,380)
Common dividends paid (3,951) (4,017)
Net Cash (Used in) Provided by Financing Activities (37,641) 21,870
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,586) 9,398
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 47,698 95,848
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 46,112 $ 105,246