v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 3,967,000 $ (16,997,000)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses on loans 514,000 774,000
(Release of) provision for credit losses on unfunded commitments (6,000) 29,000
Goodwill impairment 0 19,133,000
Depreciation and amortization 609,000 553,000
Net premium amortization on securities 104,000 285,000
Deferred income tax (benefit) 210,000 (357,000)
Net gains on sales of mortgage loans (38,000) (28,000)
Proceeds from sales of mortgage loans originated for sale 1,921,000 1,599,000
Originations of mortgage loans originated for sale (1,258,000) (1,662,000)
Net securities (gains) losses (19,000) 194,000
Decrease (Increase) in accrued interest receivable 39,000 (127,000)
Increase in cash surrender value of bank owned life insurance (320,000) (326,000)
Gain from bank-owned life insurance proceeds (255,000) 0
Net losses on disposals of premises and equipment 2,000 2,000
Decrease in other assets 516,000 201,000
Amortization of investment in low-income housing partnerships 409,000 409,000
Increase in accrued interest payable 167,000 875,000
(Decrease) increase in other liabilities (833,000) 122,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 5,729,000 4,679,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and redemptions of debt securities available-for-sale 26,887,000 42,518,000
Purchases of debt securities available-for-sale (2,500,000) (58,439,000)
Net change in restricted investment in bank stocks 40,000 (608,000)
Net increase in loans (12,368,000) (11,337,000)
Proceeds from bank-owned life insurance 1,237,000 0
Purchase of premises and equipment (267,000) (576,000)
Purchase of investment in real estate venture 0 (10,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 13,029,000 (28,452,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 11,398,000 3,770,000
Net (decrease) increase in short-term borrowings (4,875,000) 21,843,000
Common stock issued 0 855,000
Dividends paid (3,482,000) (3,437,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 3,041,000 23,031,000
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 21,799,000 (742,000)
CASH AND CASH EQUIVALENTS, BEGINNING 39,053,000 16,271,000
CASH AND CASH EQUIVALENTS, ENDING 17,254,000 17,013,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 18,653,000 18,188,000
Income taxes paid 210,000 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Common stock subscription receivable 0 10,000
Right-of-use assets obtained in exchange for lease liabilities $ 33,000 $ 33,000