v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 6,152,000 $ (13,203,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for credit losses on loans 4,701,000 1,640,000
Release of credit losses on unfunded commitments (20,000) (64,000)
Goodwill impairment 0 19,133,000
Depreciation and amortization 1,277,000 946,000
Net (discount accretion) premium amortization on securities (86,000) 273,000
Deferred income tax benefit (394,000) (63,000)
Net gains on sales of mortgage loans (143,000) (80,000)
Proceeds from sales of mortgage loans originated for sale 5,716,000 3,407,000
Originations of mortgage loans originated for sale (5,988,000) (3,853,000)
Net securities gains (224,000) (105,000)
(Increase) decrease in accrued interest receivable (4,000) 208,000
Increase in cash surrender value of bank owned life insurance (666,000) (669,000)
Gain from bank-owned life insurance proceeds (255,000) 0
Net losses on disposals of premises and equipment 17,000 14,000
Decrease (increase) in other assets 584,000 (808,000)
Amortization of investment in low-income housing partnerships 819,000 819,000
Increase (decrease) in accrued interest payable 583,000 (671,000)
(Decrease) increase in other liabilities (906,000) 1,721,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 11,163,000 8,645,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and redemptions of debt securities available-for-sale 58,380,000 69,878,000
Purchases of debt securities available-for-sale (51,918,000) (65,459,000)
Net change in restricted investment in bank stocks 40,000 1,901,000
Net increase in loans originated as held for investment (2,520,000) (37,740,000)
Proceeds from bank-owned life insurance 1,238,000 0
Purchase of premises and equipment (313,000) (1,728,000)
Purchase of investment in real estate venture 0 (10,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 4,907,000 (33,158,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 91,557,000 65,441,000
Net increase (decrease) in short-term borrowings 2,419,000 (19,042,000)
Proceeds from long-term borrowings 0 4,000,000
Repayment of long-term borrowings 0 (20,000,000)
Dividends paid, net of reinvestment (6,051,000) (5,645,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 87,925,000 24,754,000
INCREASE IN CASH AND CASH EQUIVALENTS 103,995,000 241,000
CASH AND CASH EQUIVALENTS, BEGINNING 17,254,000 17,013,000
CASH AND CASH EQUIVALENTS, ENDING 121,249,000 17,254,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 38,965,000 40,663,000
Income taxes paid 883,000 50,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Right-of-use assets obtained in exchange for lease liabilities $ 33,000 $ 33,000