v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 1,091 $ 2,099
Adjustments to reconcile net income to net cash provided by operating activities    
Net accretion of discounts and premiums (10) (232)
(Recovery) provision of credit losses (11) 297
Proceeds received on foreclosed real estate   1
Accretion of deferred loan fees/costs (63) (42)
Amortization of intangible assets 45 45
Amortization of debt issuance costs   39
Depreciation of premises and equipment 193 198
Deferred tax expense (benefit) 173 (164)
Increase in cash surrender value of life insurance (86) (87)
Stock-based compensation expense 691 1,217
ESOP compensation expense 49 45
Decrease in accrued interest and other assets 269 293
Increase in other liabilities 1,346 1,098
Net cash provided by operating activities 3,687 4,807
Cash flows from investing activities    
(Increase) decrease in equity trading account (2) 3
Proceeds from maturities and principal payments of investment securities available for sale 6,297 7,726
Purchases of investment securities available for sale (6,000) (5,301)
Proceeds from maturities and principal payments of investment securities held to maturity 46 71
(Increase) decrease in loans 19,394 (12,264)
Purchase of premises and equipment (7) (217)
Purchase of Federal Home Loan Bank of Atlanta stock   (19)
Net cash (used in) provided by investing activities 19,728 (10,001)
Cash flows provided by financing activities    
Net (decrease) increase in deposits (2,581) 6,495
Repurchase of shares (1,962) (981)
Net cash (used in) provided by financing activities (4,543) 5,514
Net increase in cash and cash equivalents 18,872 320
Cash and cash equivalents at beginning of period 55,705 70,500
Cash and cash equivalents at end of period 74,577 70,820
Supplementary cash flows information    
Interest paid 2,494 2,331
Income taxes paid (recovered) 151 (173)
Noncash investing and financing activities:    
Net change on equity investments   14
Net change on available for sale securities 49 (119)
Net change on loans   (39)
Deferred tax assets (13) 74
Net change in adjusted other comprehensive income $ (36) $ 194