XML 18 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income attributable to common stockholders $ 3,197 $ 2,702 $ 3,675 $ 4,088  
Adjustments to reconcile net income to net cash provided by operating activities:          
Net accretion on debt securities (10)     (19)  
Depreciation expense 526     561  
Negative provision for credit losses (250)     (800)  
Net gain on equity securities (10)     (167)  
Increase in mortgage servicing rights resulting from transfers of financial assets (60)     (57)  
Mortgage servicing rights amortization 140     148  
Amortization of intangible assets 179     179  
Stock based compensation expense 68     158  
Gain on sale of office properties and equipment 0     (13)  
(Increase) decrease in deferred income taxes (18)     355  
Increase in cash surrender value of life insurance (194)     (189)  
Net loss from disposals of foreclosed and repossessed assets 19     0  
Provision for valuation allowance on foreclosed properties (15)     0  
Gain on sale of loans held for sale, net (720)     (1,020)  
Proceeds from sale of loans held for sale 14,643     18,543  
Originations of loans held for sale (15,890)     (11,750)  
Proceeds from insurance claim on foreclosed and repossessed assets 0     27  
Amortization of debt issuance costs 58     58  
Net change in:          
Accrued interest receivable and other assets 37     (966)  
Other liabilities (87)     12  
Total adjustments (1,584)     5,060  
Net cash from operating activities 1,613     9,148  
Cash flows from investing activities:          
Proceeds from principal payments and maturities of available for sale securities 5,114     3,202  
Proceeds from principal payments and maturities of held to maturity securities 1,199     1,284  
Equity investment capital distribution 0     170  
Purchase of equity investments (750)     0  
Net sales of other investments 4     2,703  
Proceeds from sales of foreclosed and repossessed assets 35     0  
Net decrease in loans 16,159     10,888  
Net capital expenditures (100)     (214)  
Proceeds from disposal of office properties and equipment 0     13  
Net cash from investing activities 21,661     18,046  
Cash flows from financing activities:          
Change in short term Federal Home Loan Bank advances, net 0     (34,500)  
Federal Home Loan Bank advance long-term maturities (5,000)     (5,530)  
Net increase in deposits 35,506     8,393  
Repurchase shares of common stock 0     (598)  
Surrender of restricted shares of common stock (183)     (113)  
Common stock options exercised 28     0 $ 22
Cash dividends paid (3,598)     (3,346)  
Net cash from financing activities 26,753     (35,694)  
Net decrease in cash and cash equivalents 50,027     (8,500)  
Cash and cash equivalents at beginning of period 50,172   $ 28,638 37,138 37,138
Cash and cash equivalents at end of period 100,199 $ 50,172   28,638 $ 50,172
Cash paid during the period for:          
Interest on deposits 8,245     7,079  
Interest on borrowings 737     2,249  
Income taxes 0     0  
Supplemental noncash disclosure:          
Transfers from loans receivable to other real estate owned ("OREO") $ 0     $ 73