XML 15 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash Flows from Operating Activities      
Net income $ 6,952 $ 5,359  
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation 986 990  
Amortization of premiums on available-for-sale securities, net 93 321  
Capitalized additions to servicing rights (276) (75)  
Servicing rights amortization and impairment 127 168  
Amortization of core deposit intangible 414 414  
Amortization of customer list intangible 31 31  
Net accretion of fair value adjustments (590) (681)  
Amortization of subordinated note issuance costs 28 29  
Stock-based compensation expense 352 434  
Provision for (recovery of) credit losses - loans 811 (289) $ 944
Recovery of credit losses - off balance sheet credit exposures 260 266  
Gain on sale of loans held for sale (284) (107)  
Originations of loans held for sale (12,958) (7,559)  
Proceeds from sale of loans held for sale 13,907 6,832  
(Gain) loss on derivatives (8) 14  
loss on sale of other assets owned 54 0  
Increase in cash surrender value of bank owned life insurance (244) (216)  
Change in other assets and other liabilities, net 1,874 (3,916)  
Net cash provided by operating activities 11,009 1,483  
Activity in available-for-sale securities:      
Maturities, prepayments and calls 8,175 3,909  
Purchases (13,816) (316)  
Activity in other securities, at cost:      
Purchases (472) (535)  
Proceeds from redemption of FHLB stock 810 548  
Change in interest-bearing time deposits 490 5  
Additions to premises and equipment (386) (219)  
Net (increase) decrease on loan originations and principal collections (19,079) 38,960  
Net cash (used in) provided by investing activities (24,278) 42,352  
Cash Flows from Financing Activities      
Net change in deposits 13,519 13,919  
Net change in federal funds purchased and securities sold under agreements to repurchase 40 0  
Repayment of FHLB advances (585) (9,105)  
Purchase of treasury stock (23) (94)  
Cash dividends paid on common stock (2,996) (2,974)  
Net cash provided by financing activities 9,955 1,746  
Net (Decrease) Increase in Cash and Cash Equivalents (3,314) 45,581  
Cash and Cash Equivalents - Beginning of year 176,351 142,201 142,201
Cash and Cash Equivalents - End of period 173,037 187,782 $ 176,351
Supplemental cash flow information:      
Interest paid 17,567 18,554  
Income taxes paid 2,210 0  
Supplemental noncash disclosures:      
Cash dividends declared not paid $ 2,997 $ 2,975