v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 4,553 $ 4,960
Adjustments to reconcile net income to net cash provided by operating activities    
Net amortization (accretion) of discounts and premiums 26 (315)
(Recovery) provision of credit losses (227) 475
Proceeds received on foreclosed real estate   2
Accretion of deferred loan fees/costs 3 (59)
Amortization of intangible assets 90 90
Amortization of debt issuance costs   78
Depreciation of premises and equipment 387 398
Deferred tax expense (benefit) 23 (512)
Increase in cash surrender value of life insurance (202) (201)
Stock-based compensation expense 1,390 2,437
ESOP compensation expense 99 91
Decrease in accrued interest and other assets 459 228
Increase in other liabilities 1,519 1,536
Net cash provided by operating activities 8,120 9,208
Cash flows from investing activities    
(Increase) decrease in equity trading account (1) 15
Proceeds from maturities and principal payments of investment securities available for sale 12,667 9,683
Purchases of investment securities available for sale (11,750) (7,225)
Proceeds from maturities and principal payments of investment securities held to maturity 90 148
Decrease (increase) in loans 44,327 (13,495)
Purchase of premises and equipment (117) (356)
Proceeds from sale of Federal Home Loan Bank of Atlanta stock 1,663 1,014
Purchase of Federal Home Loan Bank of Atlanta stock   (304)
Net cash provided by (used in) investing activities 46,879 (10,520)
Cash flows provided from financing activities    
Net (decrease) increase in deposits (204) 7,400
Advances from the Federal Home Loan Bank of Atlanta   6,000
Repayment of advances from the Federal Home Loan Bank of Atlanta (35,000) (21,000)
Repurchase of shares (6,598) (5,265)
Net cash used in financing activities (41,802) (12,865)
Net increase in cash and cash equivalents 13,197 (14,177)
Cash and cash equivalents at beginning of period 55,705 70,500
Cash and cash equivalents at end of period 68,902 56,323
Supplementary cash flows information    
Interest paid 5,430 6,049
Income taxes paid 2,037 1,368
Noncash investing and financing activities:    
Net change on available for sale securities 65 (243)
Net change on loans   (98)
Deferred tax assets (18) 102
Net change in adjusted other comprehensive income $ (47) $ 269