v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Operating activities:          
Net income     $ 3,919,000 $ 3,101,000  
Adjustments to reconcile net income from operating activities:          
Provision for credit losses $ 349,000 $ 119,000 453,000 239,000  
Depreciation     394,000 322,000  
Net amortization of securities premiums     59,000 61,000  
Net amortization of loan origination costs     (54,000) (50,000)  
Deferred net loan origination costs     (330,000) (295,000)  
Amortization of intangibles 17,000 20,000 35,000 42,000  
Amortization of investment in low income housing partnerships 80,000 80,000 161,000 161,000  
Net amortization of purchase fair value adjustments     (18,000) (1,000)  
Change in value of equity securities (40,000) (9,000) (12,000) 4,000  
Earnings on bank owned life insurance and annuities (62,000) (58,000) (119,000) (114,000)  
Deferred income tax expense (benefit)     11,000 (3,000)  
Stock-based compensation expense 38,000 36,000 75,000 70,000  
Mortgage servicing right adjustment     4,000 4,000  
Gain from life insurance proceeds     (20,000) 0  
(Increase) decrease in accrued interest receivable and other assets     (31,000) 90,000  
Decrease in accrued interest payable and other liabilities     (1,192,000) (791,000)  
Net cash provided by operating activities     3,335,000 2,840,000  
Investing activities:          
Restricted stock     0 (643,000)  
Premises and equipment     (188,000) (1,400,000)  
Bank owned life insurance     (890,000) 0  
Bank owned life insurance premium and annuity payments     (9,000) (9,000)  
Redemption of equity securities 0 0 46,000 0  
Maturities of and principal repayments on securities available for sale     2,006,000 2,625,000  
Maturities of and principal repayments on securities held to maturity     6,733,000 6,741,000  
Redemption of FHLB stock     247,000 0  
Life insurance claims     243,000 0  
Sale of fixed assets     4,000 0  
Net increase in loans     (22,063,000) (15,678,000)  
Net cash used in investing activities     (13,871,000) (8,364,000)  
Financing activities:          
Net increase (decrease) in deposits     11,350,000 (3,879,000)  
Net increase in short-term borrowings and securities sold under agreements to repurchase     7,478,000 8,580,000  
Repayment of long-term debt     (5,000,000) (15,000,000)  
Cash dividends     (2,205,000) (2,197,000)  
Purchase of treasury stock     (4,000) (3,000)  
Treasury stock issued for employee stock plans     30,000 32,000  
Net cash provided by (used in) financing activities     11,649,000 (12,467,000)  
Net increase (decrease) in cash and cash equivalents     1,113,000 (17,991,000)  
Cash and cash equivalents at beginning of year     10,998,000 28,930,000 $ 28,930,000
Cash and cash equivalents at end of period $ 12,111,000 $ 10,939,000 12,111,000 10,939,000 $ 10,998,000
Supplemental information:          
Interest paid     6,716,000 6,870,000  
Income tax paid     $ 685,000 $ 540,000