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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net Income $ 5,481 $ 5,525
Items not requiring (providing) cash    
Depreciation and amortization 1,076 1,110
Provision for credit losses 395
Expense of share-based compensation plan 384 366
Amortization of premiums and discounts on securities 247 267
Amortization of intangible assets 33 43
Amortization of originated mortgage servicing rights 608 625
Recovery of mortgage servicing rights (219) (40)
Proceeds from sale of loans held for sale 92,459 73,736
Originations of loans held for sale (96,656) (76,256)
Gain from sale of loans (2,173) (1,897)
Changes in    
Interest receivable (161) 12
Other assets (674) 1,500
Interest payable & other liabilities (531) (6,301)
Net cash used in operating activities (126) (915)
Investing Activities    
Purchases of available-for-sale securities (723)
Purchases of interest bearing time deposits (1,082)
Proceeds from maturities of interest bearing time deposits 200 951
Proceeds from maturities of available-for-sale securities 9,111 10,260
Net change in loans (5,219) (22,863)
Purchase of premises, equipment (558) (511)
Purchase of bank owned life insurance (800)
Purchase of Federal Reserve and Federal Home Loan Bank Stock (275) (2,392)
Proceeds from sale of Federal Home Loan Bank Stock 2,350 1,084
Proceeds from sale of foreclosed assets 1 187
Net cash provided by (used in) investing activities 3,728 (14,007)
Financing Activities    
Net increase (decrease) in demand deposits, money market, interest checking & savings accounts 41,910 (64,346)
Net increase in time deposits 3,073 48,837
Net increase in securities sold under agreements to repurchase 1,791 6,195
Proceeds from Federal Home Loan Bank advances 128,000 337,000
Repayment of Federal Home Loan Bank advances (176,600) (315,700)
Stock repurchase plan (895) (2,113)
Cash dividends on common shares (1,863) (1,775)
Net cash (used in) provided by financing activities (4,584) 8,098
Decrease in cash and cash equivalents (982) (6,824)
Cash and cash equivalents, beginning of period 22,965 27,817
Cash and cash equivalents, end of period 21,983 20,993
Supplemental cash flow information    
Interest paid 11,614 6,980
Supplemental non-cash disclosure    
Transfer of loans to foreclosed assets $ 31