Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 5,696,000 $ 6,103,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Origination of loans for sale (27,941,000) (29,276,000)
Sale of loans originated for sale 27,631,000 28,788,000
Depreciation and amortization, net of accretion 3,556,000 4,684,000
Stock based compensation expense 976,000 345,000
Cash payments for lease liabilities (1,223,000) (1,201,000)
(Gain) loss on sale of loans held-for-sale, net (775,000) (906,000)
(Gain) loss on sale of property and equipment (2,000) 56,000
(Increase) decrease of cash value of bank owned life insurance (639,000) (864,000)
(Gain) loss on derivatives 9,000 33,000
Provision for (benefit from) credit losses 443,000 (121,000)
Change in:    
Interest receivable (21,000) 136,000
Interest payable (363,000) (542,000)
Other assets (682,000) 2,555,000
Accrued expenses and other liabilities 4,518,000 (7,630,000)
Total adjustments 5,487,000 (3,943,000)
Net cash provided by (used in) operating activities 11,183,000 2,160,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and pay downs of securities available-for-sale 8,632,000 8,934,000
Purchase of securities available-for-sale (2,003,000) 0
Purchase of loans (10,312,000) 0
Net change in loans receivable (39,183,000) 34,706,000
Purchase of premises and equipment (668,000) (613,000)
Proceeds from sale of premises and equipment 276,000 667,000
Proceeds from sale of foreclosed real estate 90,000 0
Proceeds from death benefits of bank owned life insurance 0 535,000
Net cash provided by (used in) investing activities (43,168,000) 44,229,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Change in deposits 31,486,000 (9,920,000)
Proceeds from borrowed funds 70,000,000 30,000,000
Repayment of borrowed funds (80,000,000) (40,000,000)
Net surrender value of restricted stock awards (75,000) (146,000)
Change in federal funds purchased and repurchase agreements (14,854,000) 8,310,000
Dividends paid (1,560,000) (1,039,000)
Net cash provided by (used in) financing activities 4,997,000 (12,795,000)
Net change in cash and cash equivalents (26,988,000) 33,594,000
Cash and cash equivalents at beginning of period 119,647,000 70,584,000
Cash and cash equivalents at end of period 92,659,000 104,178,000
Cash paid during the period for:    
Interest 24,931,000 26,728,000
Income taxes 480,000 0
Noncash activities:    
Transfer of premises and equipment to assets held for sale $ 103,000 $ 0