XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Cash Flows from Operating Activities          
Net income $ 5,550 $ 2,248 $ 12,199 $ 7,899  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization of premises and equipment     2,046 1,294  
Core deposit intangible amortization expense 442 4 1,325 13  
Amortization of debt issuance costs     1 2  
Amortization of subordinated debt fair value mark     564 0  
Gain on redemption of subordinated debt     (80) 0  
Origination of mortgage loans held for sale     (3,562) 0  
Proceeds from sale of mortgage loans held for sale     3,971 0  
Provision for credit losses on loans     1,835 3,146  
(Recovery of) credit losses on securities held to maturity     (12) (3)  
Provision for (recovery of) credit losses on unfunded commitments     113 (42)  
Net (gain) on sale of other real estate owned     (7) 0  
Increase in cash value of bank owned life insurance     (761) (491)  
Accretion of discounts and amortization of premiums on securities, net     567 661  
Accretion of premium on time deposits     (673) (47)  
Accretion of certain acquisition-related loan premiums (discounts), net     (817) (288)  
Stock-based compensation     1,031 466  
Excess tax benefits on stock-based compensation     21 1  
Net (gains) losses on disposal of premises and equipment (23) 2 (16) 51  
Bargain purchase gain (304) 0 (304) 0  
Deferred income tax (benefit)     484 90  
Changes in assets and liabilities:          
(Increase) in interest receivable     (218) (139)  
Decrease (increase) in other assets     116 (1,223)  
(Decrease) increase in accrued interest payable and other liabilities     (1,158) 3,088  
Net cash provided by operating activities     16,665 14,478  
Cash Flows from Investing Activities          
Proceeds from maturities, calls, and principal payments of securities available for sale     19,772 9,587  
Proceeds from maturities, calls, and principal payments of securities held to maturity     5,803 27,777  
Purchases of securities available for sale     (46,276) 0  
Purchases of restricted securities     (741) (34)  
Net redemption of restricted securities     46 0  
Purchase of premises and equipment     (2,674) (2,163)  
Proceeds from sale of premises and equipment     1,361 0  
Proceeds from sale of other real estate owned     60 0  
Purchase of bank owned life insurance     (18) 0  
Proceeds from cash value of bank owned life insurance     0 401  
Net decrease (increase) in loans     30,427 (27,474)  
Net cash provided by investing activities     7,760 8,094  
Cash Flows from Financing Activities          
Net (decrease) increase in demand deposits and savings accounts     (1,156) 5,948  
Net increase in time deposits     7,634 13,628  
Redemption of subordinated debt     (420) 0  
Cash dividends paid on common stock, net of reinvestment     (4,040) (2,695)  
Net cash provided by financing activities     2,018 16,783  
Increase in cash and cash equivalents     26,443 39,355  
Cash and Cash Equivalents          
Beginning     162,874 87,161 $ 126,516
Ending $ 189,317 $ 126,516 189,317 126,516 $ 189,317
Supplemental Disclosures of Cash Flow Information          
Interest     20,934 10,889  
Income taxes     2,200 1,880  
Supplemental Disclosures of Noncash Investing and Financing Activities          
Unrealized gains on securities available for sale     6,629 3,358  
Amortization of unrealized losses on securities transferred from available for sale to held to maturity     721 1,001  
Change in fair value of cash flow hedges     (403) 218  
Transfer from loans to other real estate owned     0 56  
Issuance of common stock, dividend reinvestment plan     142 133  
First National Corporation 2014 Stock Incentive Plan [Member]          
Cash Flows from Financing Activities          
Repurchase of common stock     $ 0 $ (98)