XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities:    
Net Income $ 13,151 $ 9,603
Items not requiring (providing) cash:    
Depreciation 1,439 1,148
Loss on disposal of fixed assets 1 0
Stock option and stock grant expense 333 54
Loss (gain) on sale/write-down of REO 17 (33)
Amortization of intangible assets 1,018 402
Accretion of purchase accounting adjustments (1,641) (456)
Increase in cash surrender value of bank owned life insurance (BOLI) (458) (318)
Provision for credit losses 900 5,056
Net (accretion) amortization of premiums and discounts on securities (101) 248
Originations of loans held for sale (5,614) (7,803)
Proceeds from sales of loans held for sale 5,571 7,065
Gain on sales of loans held for sale (213) (292)
Changes in:    
Accrued interest receivable (4,771) (2,818)
Prepaid expenses and other assets 395 (5,507)
Accounts payable and other liabilities 1,800 334
Deferred income taxes 0 6
Accrued interest payable 2,378 371
Net cash provided by operating activities 14,205 7,060
Cash flows from investing activities:    
Net increase in loans (80,558) (255,749)
Net change in interest-bearing deposits 248 496
Proceeds from maturities of available for sale securities 9,525 6,023
Net redemptions (purchases) of Federal Home Loan Bank stock 640 (7,592)
Net redemptions (purchases) of Federal Reserve Bank of St. Louis stock 1 (15)
Purchases of available-for-sale securities (1,214) (6,447)
Purchases of long-term investment (40) 0
Purchases of premises and equipment (1,427) (397)
Investments in state & federal tax credits (865) (3,860)
Proceeds from sale of foreclosed assets 10 395
Net cash used in investing activities (73,680) (267,146)
Cash flows from financing activities:    
Net (decrease) increase in demand deposits and savings accounts (98,627) 17,291
Net increase in certificates of deposits 214,209 18,672
Proceeds from Federal Home Loan Bank advances 271,000 542,650
Repayments of Federal Home Loan Bank advances (290,513) (355,663)
Dividends paid on common stock (2,380) (1,938)
Net cash provided by financing activities 93,689 221,012
Increase (decrease) in cash and cash equivalents 34,214 (39,074)
Cash and cash equivalents at beginning of period 53,979 86,792
Cash and cash equivalents at end of period 88,193 47,718
Noncash investing and financing activities:    
Conversion of loans to foreclosed real estate 1,375 127
Conversion of loans to repossessed assets 77 26
Right of use assets obtained in exchange for lease obligations: Operating Leases 2,333 95
Cash paid during the period for:    
Interest (net of interest credited) 2,380 719
Income taxes $ 539 $ 1,126