v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net income $ 4,887 $ 1,598
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 722 665
Core deposit intangible amortization expense 434 442
Amortization of debt issuance costs 0 285
Amortization of subordinated debt fair value mark 73 0
Origination of mortgage loans held for sale (1,547) (681)
Proceeds from sale of mortgage loans held for sale 1,547 409
Provision for credit losses on loans 521 735
(Recovery of) credit losses on securities held to maturity (15) (7)
(Recovery of) provision for credit losses on unfunded commitments (56) 104
Net (gain) on sale of other real estate owned 0 (7)
Increase in cash value of bank owned life insurance (260) (263)
Accretion of discounts and amortization of premiums on securities, net 181 234
Accretion of premium on time deposits (10) (443)
Accretion of certain acquisition-related loan (discounts) premiums, net (295) 195
Stock-based compensation 338 265
Excess tax benefits on stock-based compensation 24 1
Net (gains) losses on disposal of premises and equipment 0 (1)
Deferred income tax (benefit) (314) 0
Changes in assets and liabilities:    
(Increase) in interest receivable (189) (106)
Decrease in other assets 2,645 768
(Decrease) in accrued interest payable and other liabilities (2,282) (666)
Net cash provided by operating activities 6,404 3,527
Cash Flows from Investing Activities    
Proceeds from maturities, calls, and principal payments of securities available for sale 13,112 4,698
Proceeds from maturities, calls, and principal payments of securities held to maturity 1,844 1,673
Purchases of securities available for sale (15,130) 0
Purchases of restricted securities (18) (695)
Purchase of premises and equipment (488) (483)
Proceeds from sale of premises and equipment 0 34
Proceeds from sale of other real estate owned 0 60
Net (increase) decrease in loans (14,908) 14,050
Net cash (used in) provided by investing activities (15,588) 19,337
Cash Flows from Financing Activities    
Net increase in demand deposits and savings accounts 41,269 18,705
Net (decrease) increase in time deposits (3,515) 2,936
Cash dividends paid on common stock, net of reinvestment (1,486) (1,347)
Net cash provided by financing activities 36,083 20,294
Increase in cash and cash equivalents 26,899 43,158
Cash and Cash Equivalents    
Beginning 160,910 162,874
Ending 187,809 206,032
Supplemental Disclosures of Cash Flow Information    
Interest 5,879 7,340
Supplemental Disclosures of Noncash Investing and Financing Activities    
Unrealized (losses) gains on securities available for sale (1,738) 2,040
Amortization of unrealized losses on securities transferred from available for sale to held to maturity 236 238
Change in fair value of cash flow hedges (4) (216)
Issuance of common stock, dividend reinvestment plan 50 46
First National Corporation 2014 Stock Incentive Plan [Member]    
Cash Flows from Financing Activities    
Repurchase of common stock $ (185) $ 0