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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net Income $ 1,993 $ 1,888
Items not requiring (providing) cash    
Depreciation and amortization 261 246
Amortization of intangible asset 38 37
Premium amortization on securities 122 136
Gain on sale of loans (77)  
Loss on sale of available-for-sale securities 194 0
Expense related to share based compensation programs 543 445
Increase in value of bank-owned life insurance (114) (113)
Originations of loans held for sale (1,970)  
Proceeds from sale of loans held for sale 2,047  
Amortization of debt instrument costs 15 15
Net change in accrued interest receivable and other assets 931 (1,590)
Net change in accrued expenses and other liabilities (368) (223)
Net cash provided by operating activities 3,615 841
Investing Activities    
Purchase of available-for-sale securities (34,905) (14,733)
Proceeds from calls/redemptions of available-for-sale securities 35 195
Sale of available-for-sale securities 25,091  
Net change in loans 2,959 (2,325)
Purchase of FHLB Stock   (3,149)
Redemption of FHLB Stock   1,692
Purchases of premises and equipment (3,392) (286)
Net cash (used in) investing activities (10,212) (18,606)
Financing Activities    
Net change in deposits 4,291 3,452
Net change in securities sold under repurchase agreements 11,024 12,403
Net change in Federal Home Loan Bank advances   75,000
Finance lease principal payment (17)  
Repurchase of common stock (656) (733)
Cash dividends paid (1,938) (1,848)
Net cash provided by financing activities 12,704 88,274
Increase (Decrease) in Cash and Cash Equivalents 6,107 70,509
Cash and Cash Equivalents, Beginning of Period 40,770 30,080
Cash and Cash Equivalents, End of Period 46,877 100,589
Supplemental Cash Flows Information    
Adoption of ASC 326   2,089
Interest paid on deposits and borrowings $ 3,477 $ 1,286