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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,744 $ 3,844
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 793 916
Provision for credit losses 149 175
Income on bank owned life insurance (28) (12)
Gain on sale of mortgage loans (4) (20)
Gain on sale or disposal of premises and equipment (134)
Gain on sale of other real estate owned (25)
Loans originated for sale (81) (1,134)
Proceeds from sales of loans originated for sale 85 1,092
Adjustment of carrying value of other real estate owned 137
Net amortization/accretion of bond premiums/discounts 151 276
Deferred tax (benefit) expense (1) 644
Net change in:    
Accrued interest receivable 72 (127)
Other assets (909) (1,426)
Accrued interest payable 404 61
Accrued expenses and other liabilities (1,191) 409
Net cash provided by operating activities 3,050 4,810
CASH FLOWS FROM INVESTING ACTIVITIES    
Net (increase) decrease in loans (24,473) 8,730
Purchase of securities available-for-sale (14,861)
Proceeds from repayments and maturities of securities available-for-sale 4,006 8,571
Net purchase of equity securities (restricted) (420) (2,277)
Payments for the purchase of premises and equipment (813) (392)
Proceeds from sales of premises and equipment 809
Proceeds from sales of other real estate owned 207
Net cash used in investing activities (20,891) (22)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in short term borrowings 60,000
Issuance of long-term debt 10,000
Net change in noninterest bearing deposits (2,789) 8,734
Net change in interest bearing deposits 18,158 (9,183)
Dividends paid (1,430) (1,196)
Repurchase of common stock (101) (38)
Net cash provided by financing activities 23,838 58,317
Net increase in cash and cash equivalents 5,997 63,105
Cash and cash equivalents, beginning of the period 61,686 60,946
Cash and cash equivalents, end of the period 67,683 124,051
Supplemental disclosure of cash paid during the period for:    
Interest 3,069 1,091
Taxes 1,925 325
Supplemental disclosure of non-cash transactions:    
Loans made to finance sale of other real estate owned 711
Change in unrealized losses on securities available-for-sale $ 1,187 $ (12,756)