v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,476 $ 3,636
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,080 277
Depreciation 2,633 2,596
Net amortization of investment securities premiums and discounts 351 532
Amortization of mortgage servicing rights 882 838
Amortization of right-of-use assets 239 262
Amortization 618 717
Compensation expense related to restricted stock awards 345 270
ESOP compensation expense for allocated shares 197 159
Net gain on sale of loans (3,432) (3,014)
Originations of loans held-for-sale (98,554) (96,314)
Proceeds from sales of loans held-for-sale 101,077 99,644
Net appreciation in cash surrender value of life insurance (708) (608)
Net change in:    
Accrued interest and dividends receivable (1,784) (710)
Other assets 928 150
Accrued expenses and other liabilities (6,717) 1,951
Net cash provided by operating activities 3,631 10,386
CASH FLOWS FROM INVESTING ACTIVITIES:    
Maturities, principal payments and calls 13,340 9,337
Purchases (3,023) 0
FHLB stock redeemed 778 (945)
Loan origination and principal collection, net (49,157) (32,945)
Proceeds from sale of real estate and other repossessed assets acquired in settlement of loans 40 0
Proceeds from sale of premises and equipment 0 62
Purchases of premises and equipment, net (1,981) (7,417)
Net cash used in investing activities (40,003) (31,908)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposits 56,697 (16,330)
Net short-term advances from FHLB and other borrowings 20,977 19,313
Advances on long-term FHLB and other borrowings 20,000 20,000
Payments on long-term FHLB and other borrowings (62,500) 0
Purchase of treasury stock (1,163) 0
Dividends paid (2,270) (2,244)
Net cash provided by financing activities 31,741 20,739
NET DECREASE IN CASH AND CASH EQUIVALENTS (4,631) (783)
CASH AND CASH EQUIVALENTS, beginning of period 31,559 24,545
CASH AND CASH EQUIVALENTS, end of period 26,928 23,762
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid during the period for interest 19,858 18,817
Cash paid during the period for income taxes, net of refund 477 194
NONCASH OPERATING, INVESTING AND FINANCING ACTIVITIES:    
Increase (decrease) in fair value of securities available-for-sale 3,115 (1,265)
Mortgage servicing rights recognized 626 599
Loans transferred to real estate and other assets acquired in foreclosure 91 4
Right-of-use assets obtained (used) in exchange for lease liabilities 3 (151)
Decrease in commitments to invest in Low-Income-Housing Tax Credit projects $ (31) $ (2,390)