XML 16 R9.htm IDEA: XBRL DOCUMENT v3.25.1
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 1,772 $ 2,107
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 419 391
Provision for credit losses 528 0
Deferred income tax expense 548 395
Reclassification of unrealized gains on terminated derivative contracts (48) (313)
Stock-based compensation expense 172 157
Net accretion of securities (154) (36)
Amortization of intangible assets 19 37
Net (gain) loss on premises and equipment and other real estate (5) 374
Changes in assets and liabilities:    
Increase in cash surrender value of bank owned life insurance (89) (86)
Increase in accrued interest receivable (175) (172)
(Increase) decrease in other assets (73) 61
Decrease in accrued interest expense (53) (316)
Decrease in other liabilities (1,106) (1,774)
Net cash provided by operating activities 1,755 825
Cash flows from investing activities:    
Net decrease in federal funds sold and securities purchased under reverse repurchase agreements 276 3,943
Purchases of investment securities, available-for-sale 0 (5,791)
Proceeds from maturities and prepayments of investment securities, available-for-sale 9,410 15,915
Proceeds from maturities and prepayments of investment securities, held-to-maturity 50 121
Net increase in Federal Home Loan Bank stock (722) (293)
Net increase in loans and leases held for investment (25,690) (1,820)
Proceeds from the sale of premises and equipment, other real estate and repossessions 428 294
Purchases of premises and equipment (70) (967)
Net cash (used in) provided by investing activities (16,318) 11,402
Cash flows from financing activities:    
Net increase in deposits (10,605) (6,923)
Net increase in short-term borrowings 35,000 5,000
Net share-based compensation transactions (71) (52)
Repurchases of common stock (535) 0
Dividends paid (401) (289)
Net cash provided by (used in) financing activities 23,388 (2,264)
Net increase in cash and cash equivalents 8,825 9,963
Cash and cash equivalents, beginning of period 47,216 50,279
Cash and cash equivalents, end of period 56,041 60,242
Supplemental disclosures:    
Interest 5,174 5,553
Income taxes 418 765
Non-cash transactions:    
Assets acquired in settlement of loans 194 364
Reissuance of treasury stock as compensation $ 434 $ 0