XML 20 R9.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net earnings $ 4,701 $ 2,778
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for credit losses 300
Valuation allowance on real estate held for sale 129
Amortization of investment security (discount) premiums, net (43) 99
Accretion of purchase accounting adjustments (184) (209)
Amortization of mortgage servicing rights and other intangibles 239 412
Depreciation 321 320
Increase in cash surrender value of bank owned life insurance [1] (272) (245)
Stock-based compensation 97 156
Deferred income taxes (394) 37
Net losses on sales of investment securities 2
Net loss on sales of premises and equipment and foreclosed assets 9
Net gains on sales of loans [1] (562) (512)
Proceeds from sales of loans 16,452 12,124
Origination of loans held for sale (15,538) (13,517)
Changes in assets and liabilities:    
Accrued interest and other assets 413 (131)
Accrued expenses, taxes, and other liabilities 2,786 1,101
Net cash provided by operating activities 8,018 2,851
Cash flows from investing activities:    
Net increase in loans (22,320) (15,062)
Net change in interest-bearing deposits at banks 137
Maturities and prepayments of investment securities 18,071 15,595
Purchases of investment securities (1,143) (2,660)
Proceeds from sales of available-for-sale investment securities 3,394
Redemption of bank stocks 4,852 3,553
Purchase of bank stocks (4,459) (3,280)
Proceeds from bank owned life insurance 1,093
Proceeds from sales of premises and equipment and foreclosed assets 491
Purchases of premises and equipment, net (49) (1,307)
Net cash used in investing activities (424) (2,670)
Cash flows from financing activities:    
Net increase (decrease) in deposits 7,056 (22,727)
Federal Home Loan Bank advance borrowings 204,601 204,398
Federal Home Loan Bank advance repayments (208,547) (194,012)
Proceeds from other borrowings 230
Repayments on other borrowings (333) (562)
Change in repurchase agreements (7,552) 3,181
Payment of dividends (1,213) (1,148)
Purchase of treasury stock (174)
Net cash used in financing activities (5,988) (10,814)
Net increase (decrease) in cash and cash equivalents 1,606 (10,633)
Cash and cash equivalents at beginning of period 20,275 27,101
Cash and cash equivalents at end of period 21,881 16,468
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,456 7,055
Cash paid for operating leases $ 51 $ 39
[1] Not within the scope of ASC 606.