v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 14,275 $ 12,126
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,149 1,085
Amortization of right-of-use asset 1,659 1,654
Writedown of other real estate owned 67 0
Provision for credit losses 300 600
Deferred tax expense 2,194 1,447
Net amortization of securities 255 346
Stock based compensation expense 308 154
(Increase) Decrease in taxes receivable (2,149) 3,844
Increase in interest receivable (811) (777)
(Decrease) Increase in interest payable (152) 288
Increase in other assets (3,078) (4,224)
Decrease in operating lease liabilities (1,835) (1,792)
Decrease in accrued expenses and other liabilities (10,902) (4,855)
Total adjustments (12,995) (2,230)
Net cash provided by operating activities 1,280 9,896
Cash flows from investing activities:    
Proceeds from sales, paydowns and calls of securities available for sale 13,723 8,841
Proceeds from paydowns of held to maturity securities 266 241
Purchases of securities available for sale (9,911) (20,000)
Proceeds from maturities of securities available for sale 35,000 35,000
Purchases of Federal Home Loan Bank stock 0 0
Net increase in loans (17,821) (4,793)
Proceeds from dispositions of other real estate owned 0 68
Purchases of bank premises and equipment (4,545) (501)
Net cash provided by investing activities 16,712 18,856
Cash flows from financing activities:    
Net (decrease) increase in deposits 105,687 4,392
Net change in short-term borrowings (2,506) 5,384
Dividends paid (6,848) (6,849)
Net cash provided by financing activities 96,333 2,927
Net decrease in cash and cash equivalents 114,325 31,679
Cash and cash equivalents at beginning of period 641,812 578,004
Cash and cash equivalents at end of period 756,137 609,683
Cash paid during the year for:    
Interest paid 22,596 22,887
Income taxes paid 6,598 494
Other non cash items:    
Transfer of loans to other real estate owned 0 2,208
Decrease in dividends payable (1) 0
Change in unrealized (loss) gain on securities available for sale-gross of deferred taxes 5,326 (1,872)
Change in deferred tax effect on unrealized loss (gain) on securities available for sale (1,378) 494
Amortization of net actuarial gain and prior service cost on pension and postretirement plans (294) (200)
Change in deferred tax effect of amortization of net actuarial gain postretirement benefit plans $ 75 $ 52