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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net earnings $ 4,837 $ 5,380
Adjustments to reconcile net earnings to net cash provided by operating activties:    
Provision for credit losses 84 (191)
Depreciation and amortization 1,402 1,278
Premium amortization and discount accretion, net 1,155 1,834
Net gain on sale of loans held for sale (194) (81)
Loans originated for sale (8,427) (3,417)
Proceeds from sale of loans 8,002 3,482
Increase in cash surrender value of bank owned life insurance (301) (259)
Income recognized on death benefit of life insurance   (52)
Net (increase) decrease in other assets (1,545) 47
Net (decrease) increase in accrued expenses and other liabilities 2,996 2,672
Net cash provided by operating activities 8,009 10,693
Cash flows from investing activities:    
Proceeds from prepayments and maturities of securities available-for-sale 19,592 19,377
Decrease in loans, net (8,407) (41,025)
Net purchases of premises and equipment (1,930) (170)
Proceeds from bank-owned life insurance death benefit   (216)
Proceeds from Surrender of bank owned life insurance   (3,037)
(Increase) decrease in FHLB stock 32 (164)
Net cash (used in) provided by investing activities 9,287 (18,729)
Cash flows from financing activities:    
Net increase in noninterest-bearing deposits (479) (32,717)
Net increase in interest-bearing deposits 5,960 46,982
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase (1,486) (810)
Stock repurchases 0 (229)
Dividends paid (2,830) (2,833)
Net cash provided by financing activities 1,165 10,393
Net change in cash and cash equivalents 18,461 2,357
Cash and cash equivalents at beginning of period 71,369 27,254
Cash and cash equivalents at end of period 89,830 29,611
Cash paid during the period for:    
Interest 8,433 4,384
Income taxes $ 589 $ 800