Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,103 $ 10,029
Adjustments to reconcile net income to net cash provided by operating activities:    
Origination of loans for sale (29,276) (22,536)
Sale of loans originated for sale 28,788 21,051
Depreciation and amortization, net of accretion 4,684 5,532
Stock based compensation expense 345 443
Cash payments for lease liabilities (1,201) (965)
(Gain) loss on sale of securities, net 0 531
(Gain) loss on sale of loans held-for-sale, net (906) (744)
(Gain) loss on sale of real estate 56 (11,873)
(Gain) loss on sale of foreclosed real estate 0 (1)
(Increase) decrease of cash value of bank owned life insurance (628) (610)
(Gain) loss on death benefits of bank-owned life insurance (236) 0
(Gain) loss on derivatives 33 (66)
Provision for (benefit from) credit losses (121) 76
Interest receivable 136 603
Interest payable (542) (2,294)
Other assets 2,555 3,134
Accrued expenses and other liabilities (7,630) (3,310)
Total adjustments (3,943) (11,029)
Net cash provided by (used in) operating activities 2,160 (1,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and pay downs of securities available-for-sale 8,934 9,486
Proceeds from sales of securities available-for-sale 0 14,698
Net change in loans receivable 34,706 3,891
Purchase of premises and equipment (613) (2,852)
Proceeds from sale of premises and equipment 667 17,677
Proceeds from sale of foreclosed real estate 0 72
Proceeds from death benefits of bank owned life insurance 535 0
Net cash provided by (used in) investing activities 44,229 42,972
CASH FLOWS FROM FINANCING ACTIVITIES:    
Change in deposits (9,920) (64,611)
Proceeds from borrowed funds 30,000 150,000
Repayment of borrowed funds (40,000) (145,000)
Net surrender value of restricted stock awards (146) (82)
Change in repurchase agreements 8,310 4,914
Dividends paid (1,039) (1,552)
Net cash provided by (used in) financing activities (12,795) (56,331)
Net change in cash and cash equivalents 33,594 (14,359)
Cash and cash equivalents at beginning of period 70,584 86,008
Cash and cash equivalents at end of period 104,178 71,649
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 26,728 33,038
Income taxes 0 385
Noncash activities:    
Dividends declared not paid 0 518
Right-of-use asset obtained in exchange for lease liability $ 0 $ 16,140