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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings $ 1,371 $ 1,964
Adjustments to reconcile net earnings to net cash provided by operating activties:    
Provision for credit losses 334 66
Depreciation and amortization 434 423
Premium amortization and discount accretion, net 386 612
Net gain on sale of loans held for sale (57) (4)
Loans originated for sale (3,123) 0
Proceeds from sale of loans 2,993 0
Increase in cash surrender value of bank owned life insurance (102) (104)
Income recognized on death benefit of life insurance   (52)
Net (increase) decrease in other assets (1,500) 4,420
Net (decrease) increase in accrued expenses and other liabilities 2,345 (2,434)
Net cash provided by operating activities 3,081 4,891
Cash flows from investing activities:    
Proceeds from prepayments and maturities of securities available-for-sale 6,836 6,296
Decrease in loans, net (10,208) (586)
Net purchases of premises and equipment (1,043) (5)
Proceeds from bank-owned life insurance death benefit   (215)
(Increase) decrease in FHLB stock 32 41
Net cash (used in) provided by investing activities (4,383) 5,961
Cash flows from financing activities:    
Net increase in noninterest-bearing deposits (7,239) (7,207)
Net increase in interest-bearing deposits 10,669 (3,940)
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase 27 (94)
Stock repurchases 0 (64)
Dividends paid (943) (945)
Net cash provided by financing activities 2,514 (12,250)
Net change in cash and cash equivalents 1,212 (1,398)
Cash and cash equivalents at beginning of period 71,369 27,254
Cash and cash equivalents at end of period 72,581 25,856
Cash paid during the period for:    
Interest 2,442 877
Income taxes $ 0 $ 0