XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net Income $ 7,835 $ 8,212
Items not requiring (providing) cash    
Depreciation and amortization 1,610 1,678
Provision for credit losses 200 389
Expense of share-based compensation plan 533 489
Amortization of premiums and discounts on securities 376 400
Amortization of intangible assets 50 66
Amortization of originated mortgage servicing rights 978 960
Recovery of mortgage servicing rights 246 38
Proceeds from sale of loans held for sale 153,730 127,821
Originations of loans held for sale (158,303) (127,228)
Gain from sale of loans (3,504) (3,114)
Gain on sales of assets (200)
Changes in    
Interest receivable (185) (366)
Other assets (108) 1,586
Interest payable & other liabilities 237 (3,714)
Net cash provided by operating activities 3,495 7,217
Investing Activities    
Purchases of available-for-sale securities (723)
Net increase (decrease) in interest bearing time deposits (171) 951
Proceeds from maturities of available-for-sale securities 14,099 16,972
Net change in loans (29,811) (27,070)
Purchase of premises, equipment (947) (783)
Proceeds from bank owned life insurance 58
Purchase of bank owned life insurance (800)
Purchase of Federal Reserve and Federal Home Loan Bank Stock (432) (2,806)
Proceeds from sale of Federal Home Loan Bank Stock 2,488 2,871
Proceeds from sale of foreclosed assets 711 188
Net cash used in investing activities (14,863) (10,342)
Financing Activities    
Net increase (decrease) in demand deposits, money market, interest checking & savings accounts 79,769 (54,232)
Net increase in time deposits 9,559 52,886
Net increase in securities sold under agreements to repurchase 1,853 1,596
Proceeds from Federal Home Loan Bank advances 133,000 627,000
Repayment of Federal Home Loan Bank advances (181,600) (627,500)
Stock repurchase plan (2,024) (2,727)
Cash dividends on common shares (2,806) (2,666)
Net cash (used in) provided by financing activities 37,751 (5,643)
Increase (decrease) in cash and cash equivalents 26,383 (8,768)
Cash and cash equivalents, beginning of period 22,965 27,817
Cash and cash equivalents, end of period 49,348 19,049
Supplemental cash flow information    
Interest paid 17,546 11,890
Supplemental non-cash disclosure    
Transfer of loans to foreclosed assets $ 36