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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 1,335 $ 1,722
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, (accretion) and amortization 162 183
Stock-based compensation expense 349 260
Deferred income tax expense 241  
Provision for credit losses   7
ESOP expense 86 78
Increase in cash surrender value of bank owned life insurance (98) (87)
Change in:    
Accrued interest receivable and other assets (525) (779)
Accrued interest payable and other liabilities (333) 615
Net cash provided by operating activities 1,217 1,999
Cash flows from investing activities:    
Purchases of investment securities held-to-maturity   (7,609)
Purchases of investment securities available-for-sale   (5,710)
Purchases of premises and equipment (132) (148)
Proceeds from paydowns of investment securities available-for-sale 375 1,379
Proceeds from paydowns of investment securities held-to-maturity 24 15
Purchases of other investments (46) (2,339)
Proceeds from sales of other investments   425
Net change in loans (14,906) (15,226)
Net cash used in investing activities (14,685) (29,213)
Cash flows from financing activities:    
Net change in deposits 13,001 93,668
Stock repurchase   (867)
Proceeds from FHLB advances   65,000
Repayment of FHLB advances   (20,000)
Repayment of federal funds purchased   (25)
Proceeds from other borrowings 11,837  
Net cash provided by financing activities 24,838 137,776
Net change in cash and cash equivalents 11,370 110,562
Cash and cash equivalents at beginning of period 50,025 26,324
Cash and cash equivalents at end of period 61,395 136,886
Supplemental disclosures of cash flow information:    
Cash paid for interest 4,791 2,372
Change in unrealized gain on investment securities available-for-sale, net of tax $ 14 $ 474