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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 2,070,000 $ 12,089,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,027,000 2,068,000
Net amortization of premiums on securities 718,000 882,000
(Benefit) provision for credit losses (5,456,000) 4,214,000
Share-based compensation 569,000 551,000
Deferred income tax benefit 3,761,000 417,000
Proceeds from sale of loans held for sale 5,853,000 3,416,000
Originations of loans held for sale (4,899,000) (3,436,000)
Income on company owned life insurance (1,298,000) (994,000)
Net gain on sale of loans held for sale (88,000) (112,000)
Net (gain) loss on other assets 13,000 (39,000)
(Increase) decrease in other assets (6,240,000) 8,319,000
Increase (decrease) in other liabilities 15,260,000 (20,813,000)
Net cash provided by operating activities 12,290,000 6,562,000
Cash flows from investing activities:    
Purchases of available for sale securities (64,613,000) 0
Purchases of held to maturity securities (406,000) (898,000)
Proceeds from principal payments, maturities and calls on available for sale securities 18,298,000 22,461,000
Proceeds from principal payments, maturities and calls on held to maturity securities 4,783,000 9,704,000
sales of securities -available for sale 0 0
Net loan proceeds (originations) 16,972,000 (194,972,000)
Net payments for company owned life insurance (24,000) (12,000)
Purchases of premises and equipment (1,174,000) (848,000)
Net cash used in investing activities (26,164,000) (164,565,000)
Cash flows from financing activities:    
Net increase in deposits 183,845,000 211,883,000
Net decrease in short-term borrowings (52,000,000) (89,000,000)
Proceeds from long-term borrowings 0 50,000,000
Purchases of common stock for treasury (393,000) (561,000)
Cash dividends paid to common and preferred shareholders (4,982,000) (4,811,000)
Net cash provided by financing activities 126,470,000 167,511,000
Net increase in cash and cash equivalents 112,596,000 9,508,000
Cash and cash equivalents, beginning of period 124,442,000 130,466,000
Cash and cash equivalents, end of period $ 237,038,000 $ 139,974,000