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
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,335 $ 2,606
Adjustments to reconcile net income to net cash provided by operating activities:    
Origination of loans for sale (15,238) (18,141)
Sale of loans originated for sale 15,721 19,178
Depreciation and amortization, net of accretion 2,353 3,231
Stock based compensation expense 274 229
Cash payments for lease liabilities (814) (800)
(Gain) loss on sale of loans held-for-sale, net (470) (624)
(Gain) loss on sale of property and equipment 180 0
(Gain) loss on sale of foreclosed real estate (1) 0
(Increase) decrease of cash value of bank owned life insurance (424) (418)
(Gain) loss on derivatives (15) 16
Provision for (benefit from) credit losses 319 180
Change in:    
Interest receivable 110 70
Interest payable 396 (34)
Other assets 1,661 2,136
Accrued expenses and other liabilities (17) (6,669)
Total adjustments 4,035 (1,646)
Net cash provided by (used in) operating activities 8,370 960
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and pay downs of securities available-for-sale 5,548 5,687
Purchase of loans (10,312) 0
Net change in loans receivable (43,388) 24,593
Purchase of premises and equipment (369) (461)
Proceeds from sale of foreclosed real estate 90 72
Net cash provided by (used in) investing activities (48,431) 29,891
CASH FLOWS FROM FINANCING ACTIVITIES:    
Change in deposits 5,573 (5,716)
Proceeds from borrowed funds 55,000 40,000
Repayment of borrowed funds (35,000) (40,000)
Net surrender value of restricted stock awards (75) 0
Change in federal funds purchased and repurchase agreements (9,402) 8,215
Dividends paid (1,040) (520)
Net cash provided by (used in) financing activities 15,056 1,979
Net change in cash and cash equivalents (25,005) 32,830
Cash and cash equivalents at beginning of period 119,647 70,584
Cash and cash equivalents at end of period 94,642 103,414
Cash paid during the period for:    
Interest 16,889 17,718
Income taxes 280 0
Noncash activities:    
Transfer of premises and equipment to assets held for sale $ 103 $ 0