v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 10,435 $ 8,507
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 331 622
Depreciation and amortization 1,387 1,484
Stock-based compensation expense 549 503
Income on bank-owned life insurance, net (506) (458)
Mortgage loans originated for sale (3,808) (1,758)
Proceeds from mortgage loans sold 3,306 1,580
Net gains on sales of loans (47) (22)
Net losses (gains) on equity securities 301 (465)
Changes in:    
Net (increase) decrease in other assets (597) 3,145
Net decrease in other liabilities (5,956) (10,961)
Net cash provided by operating activities 5,395 2,177
Cash flows from investing activities:    
Proceeds from maturities, calls and pay-downs of debt securities 11,006 14,225
Net sales (purchases) of equity securities 122 (579)
Net sales (purchases) of FHLB capital stock 2,161 (80)
Net increase in loans (66,320) (86,813)
Additions to premises and equipment, net (248) (1,029)
Net cash used in investing activities (53,279) (74,276)
Cash flows from financing activities:    
Net increase in deposits 112,945 128,598
Net change in short-term borrowings (60,000) 0
Advancements from long-term borrowings 1,417 38,568
Repayments of long-term borrowings (60) (1,090)
Cash dividends paid, net of dividend reinvestment plan (3,110) (2,546)
Proceeds from issuance of common stock 1 2
Net settlement for employee taxes on restricted stock and options (524) (283)
Net proceeds from stock option exercises 111 92
Net cash provided by financing activities 50,780 163,341
Net increase in cash and cash equivalents 2,896 91,242
Cash and cash equivalents at beginning of period 83,841 56,592
Cash and cash equivalents at end of period $ 86,737 $ 147,834