XML 19 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net earnings $ 9,681 $ 8,347
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 683 678
Provision (credit) for loan losses 890 (104)
Net accretion of deferred loan fees (541) (2,564)
Deferred income taxes (328) 52
Gain on sale of debt securities available for sale 0 (108)
Amortization of premiums and discounts on debt securities (68) 323
Gain on sale of loans held for sale (473) (1,174)
Proceeds from the sale of loans held for sale 85,076 189,095
Loans originated as held for sale (79,893) (186,096)
Stock issued as compensation to directors 131 111
Stock-based compensation expense 307 227
Income from bank-owned life insurance (379) (271)
Net (increase) decrease in accrued interest receivable (880) 455
Net change in operating leases 25 25
Net increase in other assets (1,557) (904)
Net increase in other liabilities and official checks 4,923 1,311
Net cash provided by operating activities 17,597 9,403
Cash flows from investing activities:    
Loan originations, net of principal repayments (98,866) (10,869)
Purchase of debt securities available for sale (79,322) (37,854)
Purchase of debt securities held to maturity (11,782) 0
Principal repayments of debt securities available for sale 10,397 14,687
Proceeds from the sale of debt securities available for sale 0 5,874
Maturities and calls of debt securities available for sale 33 3,219
(Purchase) redemption of Federal Home Loan Bank stock (97) 127
Purchase of bank-owned life insurance 0 (5,197)
Purchase of premises and equipment (743) (392)
Net cash used in investing activities (180,380) (30,405)
Cash flows from financing activities:    
Net (decrease) increase in deposits (31,407) 182,350
Net change in other borrowings 700 3,575
Proceeds from stock options exercised 372 3
Common stock dividends paid (567) (438)
Net cash (used in) provided by financing activities (30,902) 185,490
Net (decrease) increase in cash and cash equivalents (193,685) 164,488
Cash and cash equivalents at beginning of year 233,473 68,985
Cash and cash equivalents at end of year 39,788 233,473
Supplemental disclosure of cash flow information    
Interest 2,779 2,085
Income taxes 3,596 2,323
Noncash transactions:    
Accumulated other comprehensive loss, net change in unrealized loss on debt securities available for sale, net of tax benefit $ (9,902) $ (1,474)