Statements of Cash Flows

9 Months Ended

Sep. 30, 2024

Statements of Cash Flows

Statements of Cash Flows

3. Statements of Cash Flows:

The Company has defined cash and cash equivalents as cash and due from banks. The Company paid $7,571,786 and $4,316,512 for the nine months ended September 30, 2024 and 2023, respectively, for interest on deposits and borrowings. The Company paid $835,000 and $415,000 in estimated income tax payments during the nine months ended September 30, 2024 and 2023, respectively. Two loans were transferred to other real estate and the collateral sold during the nine months ended September 30, 2024. One loan in the amount of $952,000 was transferred to other real estate during the nine months ended September 30, 2023.