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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows From Operating Activities    
Net income $ 5,165 $ 1,340
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 60 77
Provision for credit losses 200 0
Net amortization of premium of securities 47 57
Net accretion of deferred loan costs, fees, and other acquisition accounting adjustments (403) (377)
Gain (loss) income from minority membership interests (141) 203
Amortization of subordinated debt issuance costs 13 13
Core deposit intangible amortization 35 45
Equity-based compensation expense 219 135
BOLI income (70) (190)
Changes in assets and liabilities:    
Increase in accrued interest receivable, prepaid expenses and other assets 1,463 1,258
Increase (decrease) in accrued interest payable, accrued expenses and other liabilities (1,172) 4,591
Net Cash Provided by (Used in) Operating Activities, Total 5,416 7,152
Cash Flows From Investing Activities    
(Decrease) in interest-bearing deposits at other financial institutions (28,184) (21,118)
Payments to Acquire Debt Securities, Available-for-Sale 989 0
Proceeds from repayments of securities available-for-sale 3,336 2,762
Net redemption of restricted stock 412 1,771
Net (increase) in loans (11,404) (23,775)
Proceeds from Life Insurance Policy 0 47,774
Purchases of premises and equipment, net (16) (14)
Net cash provided by (used in) investing activities (36,845) 7,400
Cash Flows From Financing Activities    
Net increase (decrease) in non-maturing deposits 9,195 (40,637)
Net increase in time deposits 26,819 52,610
Issuance and Redemption of subordinated debt, net 1 0
Net decrease in FHLB advances 0 (28,000)
Payment, Tax Withholding, Share-Based Payment Arrangement (27) (27)
Common stock issuance 237 396
Net cash (used in) provided by financing activities 36,225 (15,658)
Cash and cash equivalents, beginning of year 8,161 8,042
Net increase (decrease) in cash and cash equivalents 4,796 (1,106)
Cash and cash equivalents, end of period $ 12,957 $ 6,936