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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Operating Activities          
Net income $ 5,207 $ 9,161 $ 17,846 $ 26,451  
Adjustments to reconcile net income to net cash provided (used) by operating activities          
Deferred income taxes     (1,888) 857  
Provision for credit losses 1,661 0 6,150 550  
Depreciation and amortization     6,456 6,378  
Amortization and accretion of premiums/discounts on investment securities     1,301 1,652  
Amortization of operating lease right-of-use assets     (60) (372)  
Share-based compensation expense     1,202 1,192  
Originations on loans held for sale     (233,656) (239,004)  
Proceeds on loans held for sale     (238,113) (238,028)  
(Increase) in value of bank-owned life insurance     (622) (653)  
Realized loss (gain) on sale of premises and equipment     (476) 0  
Realized loss (gain) on derivative instruments     421 (322)  
Realized loss (gain) on loans sold     (6,545) (5,922)  
Realized loss (gain) on sale of foreclosed assets     (1) (27)  
Realized loss (gain) on BOLI mortality     0 (1,196)  
Realized loss (gain) on servicing rights     (149) (28)  
Net change in:          
Accrued interest receivable     (769) (2,692)  
Other assets     127 (3,967)  
Accrued expenses and other liabilities     (8,129) 3,879  
Net cash provided (used) by operating activities     19,441 24,804  
Investing Activities          
Proceeds from sales of trading investment securities     8,684 0  
Purchases of trading investment securities     (11,220) 0  
Proceeds from maturities of investment securities available-for-sale     35,011 52,624  
Proceeds from calls of investment securities held-to-maturity     611 242  
Proceeds from maturities and paydowns of investment securities held-to-maturity     16,180 17,188  
Net (increase) decrease in loans     (275,760) (162,322)  
Net (increase) decrease in FHLB stock     2,809 (5,953)  
Purchases of BOLI     (1,935) 0  
Proceeds from BOLI mortality claim     0 2,828  
Proceeds from sale of premises and equipment     2,799 0  
Purchases of premises and equipment     (7,331) (1,474)  
Proceeds from sales of foreclosed assets     37 51  
Net cash provided (used) by investing activities     (230,115) (96,816)  
Financing Activities          
Net increase (decrease) in deposits     227,939 (43,300)  
Net increase (decrease) in short-term borrowings     (69,470) 137,390  
Cash dividends paid on common stock     (11,481) (11,040)  
Repurchase of common stock     (232) (4,556)  
Net cash provided (used) by financing activities     146,756 78,494  
Net change in cash and cash equivalents     (63,918) 6,482  
Cash and cash equivalents at beginning of period     129,893 58,242 $ 58,242
Cash and cash equivalents at end of period 65,975 64,724 65,975 64,724 129,893
Supplemental Cash Flow Disclosures          
Interest paid     84,700 50,969  
Income taxes paid     260 6,637  
Cash dividends declared, not paid     3,963 3,838  
Supplemental Disclosures of Noncash Investing and Financing Activities          
Loan collateral transferred to foreclosed assets     (5) (3)  
Loan collateral transferred to foreclosed assets     5 3  
Premises and equipment transferred to other assets     2,086 0  
Right-of-use assets obtained in exchange for new operating lease liabilities, net $ 5,136 $ 1,240 5,244 1,938 $ 1,938
Change in fair value hedges presented within residential real estate loans and other assets     $ 98 $ 716