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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 25,958 $ 24,148 $ 26,618
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 2,195 186 7,255
Realized losses (gains) on available-for-sale debt securities, net 0 3,036 (20)
Net amortization of securities 1,645 2,062 2,760
Increase in cash surrender value of life insurance (1,830) (2,703) (545)
Depreciation and amortization of bank premises and equipment 2,183 2,151 2,389
Net accretion of purchase accounting adjustments (253) (288) (1,181)
Stock-based compensation 1,494 1,472 1,260
Deferred income taxes (1,504) 836 (400)
Decrease (increase) in fair value of servicing rights 164 200 (126)
Net gains from sale of loans (1,158) (723) (757)
Origination of loans held for sale (37,841) (24,630) (26,231)
Proceeds from sales of loans held for sale 36,810 25,106 27,636
Increase in accrued interest receivable and other assets (3,014) (1,400) (3,532)
Increase (decrease) in accrued interest payable and other liabilities 7,992 4,161 (589)
Other 194 (66) 62
Net Cash Provided by Operating Activities 33,035 33,548 34,599
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of certificates of deposit 0 0 (250)
Proceeds from maturities of certificates of deposit 1,500 3,250 2,000
Proceeds from sales of available-for-sale debt securities 0 60,819 4,100
Proceeds from calls and maturities of available-for-sale debt securities 39,188 52,323 58,673
Purchase of available-for-sale debt securities (25,788) (23,414) (113,715)
Redemption of Federal Home Loan Bank of Pittsburgh stock 7,006 22,634 11,604
Purchase of Federal Home Loan Bank of Pittsburgh stock (6,810) (23,680) (16,459)
Purchase of Federal Reserve Bank stock (47) (6,252) 0
Net increase in loans (48,697) (107,356) (178,203)
Purchase of bank-owned life insurance 0 (30,000) 0
Proceeds from bank-owned life insurance 14,290 363 0
Purchase of premises and equipment (1,906) (2,265) (3,288)
Proceeds from sale of foreclosed assets 293 267 647
Other 33 109 203
Net Cash Used in Investing Activities (20,938) (53,202) (234,688)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in deposits 79,107 17,234 72,689
Net (decrease) increase in short-term borrowings (31,386) (46,188) 78,259
Proceeds from long-term borrowings - FHLB advances 59,386 85,436 50,000
Repayments of long-term borrowings - FHLB advances (32,249) (9,395) (15,455)
Redemption of subordinated debt 0 0 (8,500)
Sale of treasury stock 0 0 160
Purchases of treasury stock (629) (6,784) (9,349)
Common dividends paid (15,530) (15,569) (15,865)
Net Cash Provided by Financing Activities 58,699 24,734 151,939
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 70,796 5,080 (48,150)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 52,778 47,698 95,848
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 123,574 $ 52,778 $ 47,698