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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,470 $ 3,744
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 827 793
Provision for credit losses 429 149
Income on bank owned life insurance (37) (28)
Gain on sale of mortgage loans (4) (4)
Gain on sale or disposal of premises and equipment (20) (134)
Gain on sale of other real estate owned (34)
Loans originated for sale (105) (81)
Proceeds from sales of loans originated for sale 109 85
Net amortization/accretion of bond premiums/discounts 125 151
Deferred tax benefit (260) (1)
Net change in:    
Accrued interest receivable 14 72
Other assets (744) (909)
Accrued interest payable 473 404
Accrued expenses and other liabilities (300) (1,191)
Net cash provided by operating activities 3,943 3,050
CASH FLOWS FROM INVESTING ACTIVITIES    
Net increase in loans (1,798) (24,473)
Purchase of securities available-for-sale (8,048)
Proceeds from repayments and maturities of securities available-for-sale 5,188 4,006
Net purchase of equity securities (restricted) (36) (420)
Payments for the purchase of premises and equipment (1,488) (813)
Proceeds from sales of premises and equipment 1,033
Proceeds from sales of other real estate owned 108 809
Net cash used in investing activities (5,041) (20,891)
CASH FLOWS FROM FINANCING ACTIVITIES    
   Issuance of long-term debt 10,000
Net change in noninterest bearing deposits (7,259) (2,789)
Net change in interest-bearing deposits 34,020 18,158
Dividends paid (1,661) (1,430)
Repurchase of common stock (175) (101)
Net cash provided by financing activities 24,925 23,838
Net increase in cash and cash equivalents 23,827 5,997
Cash and cash equivalents, beginning of the period 64,977 61,686
Cash and cash equivalents, end of the period 88,804 67,683
Supplemental disclosure of cash paid during the period for:    
Interest 7,251 3,069
Taxes 1,000 1,925
Supplemental disclosure of non-cash transactions:    
      Transfer of loans to other real estate owned 20
Change in unrealized losses on securities available-for-sale $ (271) $ 1,187