v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 4,081 $ 5,837
Adjustments to reconcile net income to net cash (used in) from operating activities    
Provision for credit losses - loans 1,790 435
Recovery of credit losses - unfunded commitments (99) (60)
Depreciation and amortization (accretion) (9,489) 786
Net change in net deferred loan origination costs 32 303
Loss on disposal of premises and equipment 30 104
Loss on sale of foreclosed assets 18 227
Foreclosed assets write-down 1,163 0
Loss on bank-owned life insurance [1] 1 192
Gain on redemption of Subordinated notes [1] (42) (107)
Net change in:    
Accrued interest receivable 1,887 613
Other assets 359 (17)
Accrued interest payable and other liabilities (561) (5,015)
Net cash (used in) from operating activities (830) 3,298
Cash flows (used in) from investing activities    
Proceeds from maturities of interest-bearing time deposits in other financial institutions 30,187 22,564
Purchases of interest-bearing time deposits in other financial institutions (7,875) (38,124)
Proceeds from maturities 633,400 169,455
Proceeds from principal repayments 348 543
Purchases of securities (798,843) (274,015)
Net change in loans receivable 124,709 125,912
Bank-owned life insurance death benefit 543 0
Proceeds from sale of foreclosed assets 1,353 701
Proceeds from sale of premises and equipment 0 537
Purchase of premises and equipment, net (751) (1,343)
Net cash (used in) from investing activities (16,929) 6,230
Cash flows from (used in) financing activities    
Deposits 24,540 (62,211)
Advance payments by borrowers for taxes and insurance 5,334 (790)
Repayments of Federal Home Loan Bank advances (10,000) (5,000)
Repurchase of Subordinated notes (464) (906)
Repurchase and retirement of common stock 0 (156)
Cash dividends paid on common stock (3,738) (3,739)
Net change in cash and cash equivalents (2,087) (63,274)
Beginning cash and cash equivalents 84,829 178,484
Ending cash and cash equivalents 82,742 115,210
Net cash from (used in) financing activities 15,672 (72,802)
Supplemental disclosures of cash flow information:    
Interest paid 14,644 14,968
Income taxes paid 286 1,719
Loans transferred to foreclosed assets 1,188 117
Recording of right of use asset in exchange for lease obligations in other assets and other liabilities $ 0 $ 592
[1] Not within the scope of ASC 606