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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net Income $ 2,368 $ 2,450
Items not requiring (providing) cash    
Depreciation and amortization 552 546
Provision for credit losses 250
Expense of share-based compensation plan 167 165
Amortization of premiums and discounts on securities 126 139
Amortization of intangible assets 17 21
Amortization of originated mortgage servicing rights 273 291
Recovery of mortgage servicing rights (181) (56)
Proceeds from sale of loans held for sale 36,623 25,803
Originations of loans held for sale (38,414) (28,980)
Gain from sale of loans (791) (623)
Changes in    
Interest receivable 73 165
Other assets (723) 1,510
Interest payable & other liabilities 218 (5,822)
Net cash provided by (used in) operating activities 308 (4,141)
Investing Activities    
Purchases of available-for-sale securities (723)
Proceeds from maturities of interest bearing time deposits (882) 751
Proceeds from maturities of available-for-sale securities 4,171 4,857
Net change in loans 8,603 (14,298)
Purchase of premises, equipment (159) (338)
Proceeds from bank owned life insurance
Purchase of bank owned life insurance (800)  
Purchase of Federal Reserve and Federal Home Loan Bank Stock (275) (607)
Proceeds from sale of Federal Home Loan Bank Stock 1,042 879
Proceeds from sale of foreclosed assets 1 116
Net cash provided by (used in) investing activities 11,701 (9,363)
Financing Activities    
Net increase (decrease) in demand deposits, money market, interest checking & savings accounts 44,885 (19,936)
Net (decrease) increase in time deposits (2,748) 43,415
Net increase in securities sold under agreements to repurchase (471) 1,075
Proceeds from Federal Home Loan Bank advances 110,500 170,500
Repayment of Federal Home Loan Bank advances (159,100) (186,000)
Stock repurchase plan (521) (865)
Cash dividends on common shares (917) (877)
Net cash (used in) provided by financing activities (8,372) 7,312
Increase (decrease) in cash and cash equivalents 3,637 (6,192)
Cash and cash equivalents, beginning of period 22,965 27,817
Cash and cash equivalents, end of period 26,602 21,625
Supplemental cash flow information    
Interest paid $ 5,791 $ 2,828