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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net earnings $ 5,380 $ 5,880
Adjustments to reconcile net earnings to net cash provided by operating activties:    
Provision for credit losses (191) 0
Depreciation and amortization 1,278 1,098
Premium amortization and discount accretion, net 1,834 2,450
Net gain on securities available for sale 0 (44)
Net gain on sale of loans held for sale (81) (315)
Net gain on other real estate owned   (162)
Loans originated for sale (3,417) (8,711)
Proceeds from sale of loans 3,482 10,292
Increase in cash surrender value of bank owned life insurance (259) (294)
Income recognized on death benefit of life insurance (52)  
Net (increase) decrease in other assets 47 (15,570)
Net (decrease) increase in accrued expenses and other liabilities 2,672 14,102
Net cash provided by operating activities 10,693 8,726
Cash flows from investing activities:    
Proceeds from prepayments and maturities of securities available-for-sale 19,377 38,871
Purchase of securities available-for-sale 0 (93,106)
Decrease in loans, net (41,025) (15,644)
Net purchases of premises and equipment (170) (5,540)
Proceeds from bank-owned life insurance death benefit (216)  
Proceeds from Surrender of bank owned life insurance (3,037) 0
(Increase) decrease in FHLB stock (164) (74)
Proceeds from sale of other real estate owned   536
Net cash (used in) provided by investing activities (18,729) (74,957)
Cash flows from financing activities:    
Net increase in noninterest-bearing deposits (32,717) 5,570
Net increase in interest-bearing deposits 46,982 (21,875)
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase (810) (835)
Stock repurchases (229) (460)
Dividends paid (2,833) (2,791)
Net cash provided by financing activities 10,393 (20,391)
Net change in cash and cash equivalents 2,357 (86,622)
Cash and cash equivalents at beginning of period 27,254 156,259
Cash and cash equivalents at end of period 29,611 69,637
Cash paid during the period for:    
Interest 4,384 1,705
Income taxes $ 800 $ 1,031