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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings $ 3,948 $ 3,172
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation, amortization and accretion 671 903
Provision for credit losses 91 224
Deferred income taxes (208) (229)
Loss on sale of investment securities net 0 (2,488)
Restricted stock units expense (6) (49)
Proceeds from sales of mortgage loans held for sale 3,097 4,621
Origination of mortgage loans held for sale (3,703) (4,827)
Cash surrender value of life insurance 116 103
Change in:    
Right of use lease asset 178 167
Other assets 1,043 380
Lease liability (172) (152)
Other liabilities 920 2,207
Net cash provided by operating activities 3,669 8,042
Cash flows from investing activities:    
Purchases of investment securities available for sale (9,710) 0
Proceeds from sales, calls and maturities of investment securities available for sale 3,000 52,023
Proceeds from paydowns of investment securities available for sale 3,859 3,305
Proceeds from paydowns of other investment securities 37 37
Redemption (purchase) of FHLB stock 10 (2)
Net change in loans 13,889 19,566
Purchases of premises and equipment (128) (566)
Net cash provided (used) by investing activities (16,841) (35,235)
Cash flows from financing activities:    
Net change in deposits 60,319 (21,774)
Net change in securities sold under agreement to repurchase 27,499 8,153
Proceeds from Fed Funds Purchased 0 43,275
Repayments of Fed Funds Purchased 0 43,275
Common stock repurchased (1,998) 0
Cash dividends paid on common stock (1,929) (1,925)
Net cash (used) provided by financing activities 28,893 (31,852)
Net change in cash and cash equivalents 15,721 11,425
Cash and cash equivalents at beginning of period 82,375 71,596
Cash and cash equivalents at end of period 98,096 83,021
Cash paid during the year for:    
Interest 7,991 2,275
Income taxes 236 0
Noncash investing and financing activities:    
Change in unrealized gain (loss) on investment securities available for sale, net 55 (9,173)
Restricted stock units exercised 0 6
Allowance for credit losses recorded upon adoption of ASU 326, net of tax $ 0 $ 838