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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash Flows from Operating Activities          
Net income $ 2,248 $ 3,121 $ 7,899 $ 10,475  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization of premises and equipment     1,294 1,195  
Amortization of core deposit intangibles     13 14  
Amortization of debt issuance costs     2 2  
Provision for credit losses on loans     3,146 166 $ 5,917
(Recovery) of credit losses on securities held to maturity     (3) (2)  
(Recovery) provision for credit losses on unfunded commitments     (42) 36  
Net (gain) on sale of other real estate owned     0 (233)  
Increase in cash value of bank owned life insurance     (491) (459)  
Accretion of discounts and amortization of premiums on securities, net     661 746  
Accretion of premium on time deposits     (47) (68)  
Accretion of certain acquisition-related loan discounts, net     (288) (510)  
Stock-based compensation     466 681  
Excess tax benefits on stock-based compensation     1 4  
Net losses (gain) on disposal of premises and equipment 2 0 51 (3)  
Deferred income tax expense     90 323  
Changes in assets and liabilities:          
(Increase) decrease in interest receivable     (139) 41  
(Increase) in other assets     (1,223) (284)  
Increase (decrease) in accrued interest payable and other liabilities     3,088 (814)  
Net cash provided by operating activities     14,478 11,310  
Cash Flows from Investing Activities          
Proceeds from maturities, calls, and principal payments of securities available for sale     9,587 9,623  
Proceeds from maturities, calls, and principal payments of securities held to maturity     27,777 6,359  
Purchases of restricted securities     (34) (274)  
Purchases of securities held to maturity     0 (2,092)  
Net redemption of restricted securities     0 105  
Purchase of premises and equipment     (2,163) (682)  
Proceeds from sale of premises and equipment     0 3  
Proceeds from sale of other real estate owned     0 417  
Proceeds from cash value of bank owned life insurance     401 256  
Net (increase) in loans     (27,474) (32,368)  
Net cash provided by (used in) investing activities     8,094 (18,653)  
Cash Flows from Financing Activities          
Net increase (decrease) in demand deposits and savings accounts     5,948 (53,729)  
Net increase in time deposits     13,628 47,638  
Cash dividends paid on common stock, net of reinvestment     (2,695) (2,699)  
Net cash provided by (used in) financing activities     16,783 (9,472)  
Increase in cash and cash equivalents     39,355 (16,815)  
Cash and Cash Equivalents          
Beginning     87,161 66,914 66,914
Ending $ 126,516 $ 50,099 126,516 50,099 $ 87,161
Supplemental Disclosures of Cash Flow Information          
Interest     10,889 9,405  
Income taxes     1,880 2,726  
Supplemental Disclosures of Noncash Investing and Financing Activities          
Unrealized gains (losses) on securities available for sale     3,358 (4,405)  
Amortization of unrealized losses on securities transferred from available for sale to held to maturity     1,001 0  
Change in fair value of cash flow hedges     218 386  
Transfer from loans to other real estate owned     56 0  
Issuance of common stock, dividend reinvestment plan     133 120  
Stock Repurchase Plan [Member]          
Cash Flows from Financing Activities          
Repurchase of common stock     0 (568)  
First National Corporation 2014 Stock Incentive Plan [Member]          
Cash Flows from Financing Activities          
Repurchase of common stock     $ (98) $ (114)