v3.25.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 9,829 $ 6,394
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,071 1,040
Net amortization of loans and investment securities 166 1,775
Amortization of subordinate debt issuance costs 20 19
Provision for credit losses 1,414 998
Loss on sale of equity securities 7
Change in fair value of equity securities 75
Loans originated for sale (15,917) (13,227)
Proceeds from sale of loans 17,142 12,682
Gain on sale of loans held for sale (241) (174)
Increase in cash surrender value of life insurance (230) (224)
Gain from claims on life insurance policies (78)
Stock based compensation 475 296
Decrease in other assets 1,620 877
Decrease in other liabilities (1,396) (717)
Net cash provided by operating activities 13,960 9,736
Cash flows from investing activities    
Net decrease in long-term interest-earning deposits in other banks 500 4,235
Proceeds from maturities, calls and pay-downs of securities available for sale 35,818 24,548
Purchase of investment securities available for sale (8,025)
Increase in restricted stock (119) (8,000)
Net increase in loans (121,154) (61,419)
Proceeds from surrender of life insurance policies 559
Proceeds from sale of equity securities 161
Capital expenditures (433) (1,451)
Net cash used in investing activities (85,227) (49,553)
Cash flows from financing activities    
Net increase (decrease) in demand deposits, interest-bearing checking, and savings accounts 73,894 (2,754)
Net increase in time deposits 3,930 51,234
Increase in long-term borrowings (FHLB) 200,000
Decrease in long-term borrowings (FHLB & FRB) (50,000)
Dividends paid (2,889) (2,806)
Purchase of Treasury shares (438) (440)
Cash received from option exercises 233 15
Treasury shares issued under dividend reinvestment plan 714 1,155
Net cash provided by financing activities 75,444 196,404
Increase in cash and cash equivalents 4,177 156,587
Cash and cash equivalents at the beginning of the period 203,613 23,140
Cash and cash equivalents at the end of the period 207,790 179,727
Cash paid during the period for:    
Interest on deposits and other borrowed funds 23,065 19,897
Income taxes 2,123 1,080
Noncash Activities    
Lease liabilities arising from obtaining right-of-use assets $ 131