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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities:    
Net Income $ 13,742 $ 12,133
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision/(benefit) for credit losses 301 (937)
Depreciation 1,133 1,192
Amortization of intangibles 428 428
Net amortization of security discounts/premiums 70 102
Noncash operating lease expense 619 539
Amortization of finance lease right of use asset 45 44
Earnings on cash surrender value of life insurance (274) (284)
Mortgage loans originated for sale (20,566) (16,808)
Proceeds from sales of mortgage loans originated for sale 21,370 16,506
Gain on sale of mortgage loans (591) (424)
SBA loans originated for sale (728) (1,553)
Proceeds from sales of SBA loans originated for sale 785 1,446
Gain on sale of SBA loans (57) (107)
Gain on sale of property, plant, and equipment 0 (32)
Gain on sale or write-down of foreclosed assets (28) 0
Accretion of subordinated debt (154) (153)
Stock compensation expense 218 284
Change in deferred income tax cost 206 1,402
Increase accrued interest receivable (417) (1,155)
Decrease/(Increase) in other assets 822 (3,484)
(Decrease)/Increase in accrued interest payable (584) 2,073
Decrease in operating lease liability (649) (602)
(Decrease)/Increase in other liabilities (4,162) 1,799
Net Cash Provided By Operating Activities 11,529 12,409
Investing Activities:    
Proceeds from the maturity or call of available-for-sale securities 6,609 3,741
Proceeds from the maturity or call of held-to-maturity securities 7,265 2,045
Stock dividends of FHLB and other bank stock 151 239
Reduction (Purchases) of restricted investment in bank stock 650 (917)
Net increase in loans (49,476) (68,987)
Purchases of bank premises and equipment (2,720) (351)
Proceeds from the sale of premises and equipment 65 32
Proceeds from the sale of foreclosed assets 72 0
Proceeds from bank-owned life insurance 527 0
Gain on bank-owned life insurance (83) 0
Net change in investments in tax credits and other partnerships 647 (1,548)
Net Cash Used in Investing Activities (36,293) (65,746)
Financing Activities:    
Net increase in deposits 42,275 32,893
Common stock dividends paid (3,870) (3,314)
Proceeds from Employee and Director Stock Purchase Plan stock issuance 163 148
Treasury stock purchased 0 (323)
Net change in finance lease liability (36) (24)
Net change in short-term borrowings 23,000 30,317
Long-term debt repayment (78) (35,038)
Net Cash Provided by Financing Activities 61,454 24,659
Net increase/(decrease) in cash and cash equivalents 36,690 (28,678)
Cash and cash equivalents, beginning of period 70,564 96,763
Cash and cash equivalents, end of period 107,254 68,085
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 29,819 29,662
Cash paid for income taxes 185 0
Supplemental Noncash Disclosures:    
Recognition of operating lease right of use assets 2,322 0
Recognition of operating lease liabilities 2,322 0
Loans transferred to foreclosed assets held for sale $ 1,402 $ 4,817