v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 15,140 $ 12,192
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,090 1,088
Change in deferred taxes 178 100
Credit loss expense (reduction) 878 (1)
Loans originated for resale (5,198) (819)
Proceeds from sales and transfers of loans 5,312 851
Net gain on sales of loans (114) (32)
Net amortization of premiums on investments 281 286
Net gain on sale of other real estate owned (33) 0
Equity compensation expense 510 450
Net increase in other assets and accrued interest (8,279) (6,979)
Net decrease in other liabilities (847) (2,511)
Net (gain) loss on disposal of premises and equipment (10) 9
Amortization of investment in limited partnership 626 234
Net acquisition amortization 13 13
     Net cash provided by operating activities 9,547 4,881
Cash flows from investing activities    
Decrease (increase) in interest-bearing deposits in other banks 18,847 (29,645)
Proceeds from maturities, payments and calls of securities available for sale 17,151 12,508
Proceeds from maturities, payments, calls and sales of securities to be held to maturity 2,549 9,205
Proceeds from sales of other real estate owned 206 0
Purchases of securities available for sale (14,109) (8,994)
Purchases of securities to be held to maturity (750) (1,250)
Change in restricted equity securities (531) (3,725)
Net increase in loans (53,853) (118,399)
Capital expenditures (1,487) (385)
Proceeds from disposal of premises and equipment 43 0
     Net cash used by investing activities (31,934) (140,685)
Cash flows from financing activities    
Net decrease in demand, savings, and money market accounts (83,956) (63,074)
Net increase in certificates of deposit 64,042 41,492
Net increase in short-term borrowings 49,892 90,968
Advances on long-term borrowings 0 70,000
Payment to repurchase common stock (275) (212)
Proceeds from sale of common stock 453 421
Dividends paid (8,045) (7,917)
Net cash provided by financing activities 22,111 131,678
Net decrease in cash and cash equivalents (276) (4,126)
Cash and cash equivalents at beginning of period 27,636 31,942
     Cash and cash equivalents at end of period 27,360 27,816
Interest paid 42,250 40,905
Income taxes paid 2,060 2,657
Non-cash transactions    
Change in net unrealized loss on available for sale securities, net of tax (5,434) 3,794
Net transfer from loans to other real estate owned $ 0 $ 208