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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
OPERATING ACTIVITIES:    
Net income $ 11,598 $ 9,586
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses, loans 1,358 641
Net accretion of purchase premiums and discounts on securities (16) 34
Depreciation and amortization 684 554
PPP deferred fees and costs (1) (3)
Deferred income tax benefit (598) (87)
Net realized security losses (gains) 12 (21)
Stock compensation expense 493 476
Gain on sale of mortgage loans, net (168) (320)
Gain on sale of SBA loans held for sale, net (139) (238)
BOLI income (151) (65)
Net change in other assets and liabilities 4,782 5,205
Net cash provided by operating activities 17,854 15,762
INVESTING ACTIVITIES    
Purchases of equity securities (77) (166)
Purchases of AFS securities (4,000) (4,000)
(Purchase) redemption of FHLB stock, at cost, net (1,076) 2,539
Maturities and principal payments on HTM securities 364 100
Maturities and principal payments on AFS securities 6,304 1,041
Proceeds from calls on AFS securities 998  
Proceeds from sales of equity securities   91
Net decrease in SBA PPP loans 144 153
Net increase in loans (85,144) (2,705)
Purchases of premises and equipment (279) (78)
Net cash used in investing activities (82,766) (3,025)
FINANCING ACTIVITIES    
Net increase in deposits 75,085 37,130
Proceeds from (repayments of) short-term borrowings 23,000 (61,400)
(Repayments of) proceeds from long-term borrowings (212) 4,359
Proceeds from exercise of stock options (451) 721
Dividends on common stock (1,355) (1,261)
Purchase of treasury stock, including excise tax accrual   (4,076)
Net cash provided by (used in) financing activities 96,067 (24,527)
Increase (decrease) in cash and cash equivalents 31,155 (11,790)
Cash and cash equivalents, beginning of year 180,438 194,776
Cash and cash equivalents, end of period 211,593 182,986
SUPPLEMENTAL DISCLOSURES    
Interest paid 13,104 14,469
Income taxes paid 96 250
Noncash activities:    
Capitalization of servicing rights $ 41 $ 76