XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Consolidated Statements Of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net Income $ 2,187,000 $ 1,984,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 344,000 491,000
Net amortization and accretion of premiums and discounts on securities 105,000 104,000
Amortization of debt issuance costs 2,000 3,000
(Gain) on sales of loans held for sale (927,000) (923,000)
Proceeds from sales of loans held for sale 34,043,000 34,744,000
Origination of loans held for sale (36,498,000) (32,646,000)
(Recovery of) provision for credit losses (553,000) 140,000
Impairment of other real estate owned   26,000
Amortization of intangibles 140,000 140,000
Bank owned life insurance income (159,000) (132,000)
(Increase) decrease in interest receivable (101,000) 162,000
Decrease (increase) in other assets 178,000 (168,000)
Increase in interest payable 42,000 129,000
Increase in other liabilities (33,000) 769,000
Net cash (used in) provided by operating activities (1,230,000) 4,823,000
Cash flows from investing activities    
Purchases of securities available-for-sale (8,162,000) (2,780,000)
Proceeds from maturities, calls and paydowns of securities available-for-sale 8,058,000 2,151,000
Purchases of bank owned life insurance (600,000) (1,800,000)
Origination of loans, net of principal collected 1,307,000 (14,242,000)
Purchases of premises and equipment (479,000) (189,000)
Net cash provided by (used in) investing activities 124,000 (16,860,000)
Cash flows from financing activities    
Net increase in deposits 15,035,000 16,299,000
Principal payments on finance lease obligations (93,000) (90,000)
Principal payments on other borrowings (149,000) (144,000)
Repurchase of common stock   (813,000)
Dividends paid to common stockholders (453,000) (370,000)
Net cash provided by financing activities 14,340,000 14,882,000
Increase in cash and cash equivalents 13,234,000 2,845,000
Cash and cash equivalents at beginning of period 74,838,000 61,762,000
Cash and cash equivalents at end of period 88,072,000 64,607,000
Noncash transactions    
Fair value adjustment for securities available-for-sale (1,691,000) 3,270,000
Cash transactions    
Cash paid for interest $ 3,541,000 $ 1,327,000