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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net income $ 13,338 $ 11,732
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 1,464 1,461
Accretion of building grant (3) 0
Net amortization of purchase accounting adjustments 34 37
Net amortization of securities 100 815
Net realized loss on sale of securities 1,537 1,066
Proceeds from sale of loans in secondary market 7,831 18,972
Loans disbursed for sale in secondary market (7,134) (18,118)
Amortization of mortgage servicing rights 71 103
Recovery of mortgage servicing rights 0 (11)
Gain on sale of loans (768) (946)
Amortization of intangible assets 35 48
Amortization of certificates of deposit premiums 22 0
Deferred tax (benefit) expense 288 (130)
Provision for loan losses (32) (419)
Contribution of common stock to ESOP 575 0
Earnings on bank owned life insurance and annuity assets (883) (904)
Change in accrued interest receivable (417) 624
Change in other liabilities 1,223 (113)
Change in other assets (1,291) (1,030)
Net cash provided by operating activities 15,990 13,187
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 10,963 47,666
Proceeds from maturities and paydowns of securities available for sale 27,524 41,301
Purchases of securities available for sale (66,821) (157,686)
Proceeds from calls and maturities of securities held to maturity 1,044 3,700
Purchases of securities held to maturity 0 (4,001)
Proceeds from maturities of certificates of deposit in financial institutions 445 935
Purchases of certificates of deposit in financial institutions 0 (764)
Redemptions of restricted investments in bank stocks 1,312 241
Net change in loans (55,028) 17,181
Purchases of premises and equipment (1,988) (1,085)
Disposals of premises and equipment 420 486
Proceeds from building grant 200 0
Proceeds from bank owned life insurance 0 172
Purchases of bank owned life insurance and annuity assets (1,463) (550)
Net cash (used in) investing activities (83,392) (52,404)
Cash flows from financing activities:    
Change in deposits (32,253) 66,169
Cash dividends (4,720) (4,018)
Purchases of treasury stock 0 (954)
Proceeds from Federal Home Loan Bank borrowings 2 600
Repayment of Federal Home Loan Bank borrowings (1,909) (7,789)
Change in other short-term borrowings 238 (1,060)
Net cash provided by (used in) by financing activities (38,642) 52,948
Cash and cash equivalents:    
Change in cash and cash equivalents (106,044) 13,731
Cash and cash equivalents at beginning of year 152,034 138,303
Cash and cash equivalents at end of year 45,990 152,034
Supplemental disclosure:    
Cash paid for interest 2,845 4,360
Cash paid for income taxes 1,975 2,800
Transfers from loans to other real estate owned 0 15
Operating lease liability arising from obtaining right-of-use asset $ 108 $ 570