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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash Flows from Operating Activities          
Net income (loss) $ (306) $ 3,901 $ 1,868 $ 8,432  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses 1,302 1 1,292 3  
Depreciation of premises and equipment     424 338  
Net accretion of acquisition accounting estimates     (31) 0  
Amortization of premiums and accretion of discounts, net     520 524  
Loss on sale of securities available for sale, net     0 3,332  
Loss on disposal of repossessed assets     0 5  
Increase in cash value of bank-owned life insurance     (527) (481)  
Origination of mortgage loans held for sale     (5,125) (5,251)  
Proceeds from sale of mortgage loans held for sale     5,488 5,322  
Gain on sale of mortgage loans held for sale (58) (55) (82) (71)  
Equity based compensation expense     65 5  
Net change in:          
Accrued interest receivable     35 283  
Other assets     (5,667) (2,497)  
Accrued interest payable     974 154  
Other liabilities     1,661 (2,426)  
Net cash provided by operating activities     895 7,672  
Cash Flows from Investing Activities          
Proceeds from calls, principal payments, sales and maturities of securities available for sale     17,789 50,872  
Net change in restricted stock     265 12  
Purchase of loan participations     (12,228) (3,630)  
Collection of loan participations     5,321 5,146  
Loan originations and principal collections, net     (7,247) 4,520  
Proceeds from sale of repossessed assets     0 9  
Recoveries on loans charged off     103 207  
Purchases of premises and equipment     (1,331) (1,011)  
BOLI settlement     0 712  
Cash acquired in the acquisition, net of cash paid     1,654 0  
Net cash provided by investing activities     4,326 56,837  
Cash Flows from Financing Activities          
Net change in time deposits     14,385 79,350  
Net change in other deposits     (3,023) (135,043)  
Cash dividends paid     (4,302) (10,189)  
Net cash provided by (used in) financing activities     7,060 (65,882)  
Net change in cash and cash equivalents     12,281 (1,373)  
Cash and cash equivalents at beginning of period     86,603 71,429 $ 71,429
Cash and cash equivalents at end of period $ 98,884 $ 70,056 98,884 70,056 86,603
Supplemental Disclosures of Cash Flow Information          
Interest paid on deposits and borrowings     15,219 8,324  
Income taxes paid     715 3,847  
Supplemental Disclosure of Noncash Activities          
Loans charged against the allowance for credit losses     177 160 $ 478
Loans transferred to repossessed assets     0 7  
Unrealized holding (loss) gain on securities available for sale     (4,415) 12,054  
Lease liabilities arising from obtaining right-of-use assets during the period     $ 548 $ 0