XML 20 R9.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net earnings $ 9,105 $ 5,790
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for credit losses 1,000 300
Valuation allowance on real estate held for sale 1,081
Amortization of investment security (discount) premiums, net (85) 51
Accretion of purchase accounting adjustments (380) (483)
Amortization of mortgage servicing rights and other intangibles 477 668
Depreciation 638 647
Increase in cash surrender value of bank owned life insurance [1] (550) (493)
Stock-based compensation 215 261
Deferred income taxes (934) (377)
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] (1,302) (1,160)
Proceeds from sales of loans 44,395 43,443
Origination of loans held for sale (44,641) (44,109)
Changes in assets and liabilities:    
Accrued interest and other assets 1,171 836
Accrued expenses, taxes, and other liabilities (654) 762
Net cash provided by operating activities 8,457 7,226
Cash flows from investing activities:    
Net increase in loans (64,864) (31,295)
Net change in interest-bearing deposits at banks 647 37
Maturities and prepayments of investment securities 36,293 32,058
Purchases of investment securities (12,584) (2,658)
Proceeds from sales of available-for-sale investment securities 3,394
Redemption of bank stocks 7,580 8,390
Purchase of bank stocks (11,908) (9,914)
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 (134) (1,924)
Net cash used in investing activities (40,483) (4,815)
Cash flows from financing activities:    
Net decrease in deposits (54,865) (65,769)
Federal Home Loan Bank advance borrowings 521,784 430,305
Federal Home Loan Bank advance repayments (419,054) (362,972)
Proceeds from other borrowings 360
Repayments on other borrowings (666) (1,025)
Change in repurchase agreements (7,983) (3,969)
Payment of dividends (2,427) (2,298)
Purchase of treasury stock (255)
Net cash provided by (used in) financing activities 36,789 (5,623)
Net increase (decrease) in cash and cash equivalents 4,763 (3,212)
Cash and cash equivalents at beginning of period 20,275 27,101
Cash and cash equivalents at end of period 25,038 23,889
Supplemental disclosure of cash flow information:    
Cash payments for income taxes 1,710
Cash paid for interest 12,828 13,953
Cash paid for operating leases $ 105 $ 86
[1] Not within the scope of ASC 606.