Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,606 $ 9,423
Adjustments to reconcile net income to net cash provided by operating activities:    
Origination of loans for sale (18,141) (10,594)
Sale of loans originated for sale 19,178 10,217
Depreciation and amortization, net of accretion 3,231 3,436
Stock based compensation expense 229 305
Cash payments for lease liabilities (800) (570)
Loss on sale of securities, net 0 531
Gain on sale of loans held-for-sale, net (624) (470)
Gain on sale of real estate 0 (11,873)
Gain on sale of foreclosed real estate 0 (1)
Increase of cash value of bank owned life insurance (418) (405)
Gain on derivatives 16 (2)
Provision for credit losses 180 76
Interest receivable 70 350
Interest payable (34) (1,543)
Other assets 2,136 2,855
Accrued expenses and other liabilities (6,669) 990
Total adjustments (1,646) (6,698)
Net cash provided by operating activities 960 2,725
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and pay downs of securities available-for-sale 5,687 6,326
Proceeds from sales of securities available-for-sale 0 14,697
Net change in loans receivable 24,593 5,976
Purchase of premises and equipment (461) (2,344)
Proceeds from sale of premises and equipment 0 17,677
Proceeds from sale of foreclosed real estate 72 72
Net cash provided by investing activities 29,891 42,404
CASH FLOWS FROM FINANCING ACTIVITIES:    
Change in deposits (5,716) (56,667)
Proceeds from borrowed funds 40,000 90,000
Repayment of borrowed funds (40,000) (85,000)
Net surrender value of restricted stock awards 0 (82)
Change in repurchase agreements 8,215 4,849
Dividends paid (520) (1,030)
Net cash provided by (used in) financing activities 1,979 (47,930)
Net change in cash and cash equivalents 32,830 (2,801)
Cash and cash equivalents at beginning of period 70,584 86,008
Cash and cash equivalents at end of period 103,414 83,207
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 17,718 21,779
Income taxes 0 160
Noncash activities:    
Dividends declared not paid 0 515
Right-of-use asset obtained in exchange for lease liability $ 0 $ 16,140