Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,242 $ 455
Adjustments to reconcile net income to net cash provided by operating activities:    
Origination of loans for sale (9,407) (9,596)
Sale of loans originated for sale 10,779 8,263
Depreciation and amortization, net of accretion 1,325 1,600
Stock based compensation expense 126 98
Cash payments for lease liabilities (404) (397)
(Gain) loss on sale of loans held-for-sale, net (276) (265)
(Increase) decrease of cash value of bank owned life insurance (201) (198)
(Gain) loss on derivatives 19 35
Provision for (benefit from) credit losses 55 454
Change in:    
Interest receivable 81 (100)
Interest payable 13 (34)
Other assets 1,145 2,095
Accrued expenses and other liabilities (1,862) (6,219)
Total adjustments 1,393 (4,264)
Net cash provided by (used in) operating activities 3,635 (3,809)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and pay downs of securities available-for-sale 2,886 2,863
Purchase of loans (10,312) 0
Net change in loans receivable 5,402 16,946
Purchase of premises and equipment (135) (183)
Proceeds from sale of foreclosed real estate 0 72
Net cash provided by (used in) investing activities (2,159) 19,698
CASH FLOWS FROM FINANCING ACTIVITIES:    
Change in deposits (7,900) (10,182)
Proceeds from borrowed funds 15,000 1,657
Repayment of borrowed funds (10,000) (10,000)
Net surrender value of restricted stock awards (60) 0
Change in federal funds purchased and repurchase agreements 1,112 4,937
Dividends paid (520) (518)
Net cash provided by (used in) financing activities (2,368) (14,106)
Net change in cash and cash equivalents (892) 1,783
Cash and cash equivalents at beginning of period 119,647 70,584
Cash and cash equivalents at end of period 118,755 72,367
Cash paid during the period for:    
Interest 8,621 8,994
Noncash activities:    
Transfer of premises and equipment to other assets $ 103 $ 0