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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 8,186 $ 10,184
Adjustments to reconcile net income to net cash provided (used) by operating activities    
Deferred income taxes 1,459 854
Provision for credit losses 550  
Depreciation and amortization 2,130 2,083
Amortization and accretion of premiums/discounts on investment securities 527 1,010
Amortization of operating lease right-of-use assets (43) (19)
Stock-based compensation 159 378
Originations on loans held for sale (56,347) (151,709)
Proceeds on loans held for sale 50,381 179,347
Increase (decrease) in value of bank-owned life insurance 1,408 (202)
Realized loss (gain) on sale of fixed assets (28)  
Realized loss (gain) on derivative instruments (253) 4
Realized loss (gain) on loans sold (1,344) (3,097)
Realized loss (gain) on sale of foreclosed assets 8 (8)
Realized loss (gain) on servicing rights 38 (51)
Net change in:    
Accrued interest receivable (114) 21
Other assets 2,080 (4,371)
Accrued expenses and other liabilities (8,352) 863
Net cash provided (used) by operating activities 445 35,287
Investing Activities    
Proceeds from maturities of investment securities available-for-sale 16,139 31,665
Purchases of investment securities available-for-sale   (95,640)
Proceeds from calls of investment securities held-to-maturity 126 515
Proceeds from maturities of investment securities held-to-maturity 7,578 10,851
Net (increase) decrease in loans (42,801) (59,910)
Net (increase) decrease in FHLB stock (225) (440)
Purchases of premises and equipment (923) (130)
Proceeds from sales of foreclosed assets 22 57
Net cash provided (used) by investing activities (20,084) (113,032)
Financing Activities    
Net increase (decrease) in deposits 116,494 (28,284)
Net increase (decrease) in short-term borrowings (5,935)  
Repayments of long-term debt   (59)
Cash dividends paid on common stock (3,620) (2,784)
Repurchase of common stock (361) (607)
Net cash provided (used) by financing activities 106,578 (31,734)
Net change in cash and cash equivalents 86,939 (109,479)
Cash and cash equivalents at beginning of period 58,242 242,311
Cash and cash equivalents at end of period 145,181 132,832
Cash paid for:    
Interest 15,167 926
Income taxes   12
Non-cash information    
Loan collateral transferred to foreclosed assets   29
Unrealized gain (loss) on investment securities available-for-sale 2,421 (37,968)
Accretion of unrealized (gain) loss on investment securities held-to-maturity (87) $ (101)
Right-of-use assets obtained in exchange for new operating lease liabilities $ 257