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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:                  
Net income attributable to common stockholders $ 3,675 $ 4,088 $ 3,693 $ 2,498 $ 3,206 $ 3,662 $ 7,763 $ 6,868  
Adjustments to reconcile net income to net cash provided by operating activities:                  
Net accretion on debt securities             (39) (34)  
Depreciation expense             1,113 1,203  
(Negative provision) provision for credit losses (1,525)           (2,325) 500  
Net loss (gain) on equity securities             491 (54)  
Net realized gain on sale of debt securities 0       (12)   0 (12)  
Increase in mortgage servicing rights resulting from transfers of financial assets             (130) (52)  
Mortgage servicing rights amortization and impairment, net             264 306  
Amortization of intangible assets 179       193   358 397  
Amortization of restricted stock             316 382  
Decrease in deferred income taxes             355 129  
Increase in cash surrender value of life insurance             (560) (336)  
Net gain from disposals of foreclosed and repossessed assets             (18) (38)  
Gain on sale of loans held for sale, net             (1,246) (1,202)  
Proceeds from sale of loans held for sale             28,441 23,192  
Originations of loans held for sale             (21,697) (24,384)  
Net change in:                  
Accrued interest receivable and other assets             (709) (1,047)  
Other liabilities             1,750 (1,466)  
Total adjustments             6,364 (2,516)  
Net cash provided by operating activities             14,127 4,352  
Cash flows from investing activities:                  
Proceeds from Bank Owned Life Insurance (BOLI) death benefit             499 0  
Net decrease in other interest bearing deposits             0 249  
Purchase of available for sale securities             0 (11,007)  
Proceeds from principal payments of available for sale securities             7,045 9,128  
Proceeds from sales of available for sale securities 0       5,105   0 5,105  
Proceeds from principal payments and maturities of held to maturity securities             2,618 2,571  
Equity investment capital distribution             170 0  
Purchase of equity investments             (150) (450)  
Net sales (purchases) of other investments             1,847 (513)  
Proceeds from sales of foreclosed and repossessed assets             201 254  
Proceeds from insurance claim on foreclosed and repossessed assets             27 0  
Net decrease (increase) in loans             32,726 (13,199)  
Net capital expenditures             (527) (547)  
Proceeds from disposal of office properties and equipment             13 10  
Net cash provided by (used in) investing activities             44,469 (8,399)  
Cash flows from financing activities:                  
Change in short term Federal Home Loan Bank advances, net             (27,500) 15,000  
Federal Home Loan Bank advance repayment due to FHLB call             (10,000) 0  
Federal Home Loan Bank advance long-term maturities             (10,530) (35,000)  
Amortization of debt issuance costs             116 115  
Other borrowings principal reductions             (6,083) (5,167)  
Net increase in deposits             448 39,962  
Restricted common stock awarded under the equity incentive plan             0 1  
Repurchase shares of common stock             (1,834) (117)  
Surrender of restricted shares of common stock             (119) (129)  
Common stock options exercised             0 28 $ 28
Cash dividends paid             (3,346) (3,040)  
Net cash (used in) provided by financing activities             (58,848) 11,653  
Net (decrease) increase in cash and cash equivalents             (252) 7,606  
Cash and cash equivalents at beginning of period   $ 37,138   $ 42,969   $ 35,363 37,138 35,363 35,363
Cash and cash equivalents at end of period $ 36,886   $ 37,138   $ 42,969   36,886 42,969 $ 37,138
Cash paid during the period for:                  
Interest on deposits             14,897 10,088  
Interest on borrowings             3,044 5,363  
Income taxes             1,487 2,505  
Supplemental noncash disclosure:                  
Transfers from loans receivable to other real estate owned ("OREO")             $ 73 $ 144