XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements Of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities              
Net Income $ 1,990,000 $ 2,188,000 $ 2,078,000 $ 1,984,000 $ 6,326,000 $ 6,596,000  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation         972,000 1,079,000  
Net amortization and accretion of premiums and discounts on securities         506,000 (579,000)  
Amortization of debt issuance costs         4,000 10,000  
Net gain on sales of available-for-sale securities         (82,000)    
Gain on sales of loans held for sale (1,326,000)   (989,000)   (3,526,000) (3,065,000)  
Proceeds from sales of loans held for sale         146,880,000 126,245,000  
Origination of loans held for sale         (145,335,000) (124,082,000)  
Recovery of provision for credit losses 92,000   (164,000)   (584,000) (278,000)  
Loss on sale of other real estate owned           3,000 $ 3,000
Impairment of other real estate owned           23,000  
Amortization of intangibles 140,000   46,000   420,000 420,000  
Bank owned life insurance income (189,000)   (139,000)   (531,000) (405,000)  
Loss on disposition of equipment           2,000  
Decrease in interest receivable         138,000 29,000  
Decrease (increase) in other assets         (134,000) (154,000)  
Increase in interest payable         278,000 292,000  
Increase (decrease) in other liabilities         1,291,000 (167,000)  
Net cash provided by operating activities         6,623,000 5,969,000  
Cash flows from investing activities              
Purchases of securities available-for-sale         (15,122,000) (8,166,000)  
Proceeds from maturities, calls and paydowns of securities available-for-sale         13,305,000 8,775,000  
Proceeds from sale of securities available-for-sale 8,754,000   0   30,298,000 0  
Purchase of bank owned life insurance         (599,000) (1,800,000)  
Purchase of Federal Home Loan Bank stock         (29,000) (154,000)  
Purchase of correspondent bank stock         (251,000)    
Proceeds from sale of other real estate owned           540,000  
Origination of loans, net of principal collected         (24,697,000) 4,814,000  
Purchases of premises and equipment         (2,209,000) (1,478,000)  
Net cash provided by investing activities         696,000 2,531,000  
Cash flows from financing activities              
Net increase in deposits         29,151,000 32,065,000  
Principal payments on finance lease obligations         (291,000) (274,000)  
Principal payments on other borrowings         (446,000) (427,000)  
Repurchase of common stock           (997,000)  
Dividends paid to common stockholders         (1,364,000) (1,100,000)  
Net cash provided by financing activities         27,050,000 29,267,000  
Increase in cash and cash equivalents         34,369,000 37,767,000  
Cash and cash equivalents at beginning of period   $ 74,838,000   $ 61,762,000 74,838,000 61,762,000 61,762,000
Cash and cash equivalents at end of period $ 109,207,000   $ 99,529,000   109,207,000 99,529,000 $ 74,838,000
Noncash transactions              
Fair value adjustment for securities available-for-sale         4,852,000 (3,793,000)  
Cash transactions              
Cash paid for interest         11,179,000 6,181,000  
Cash paid for income taxes         $ 1,300,000 $ 1,465,000