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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net income $ 15,884 $ 14,186
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (Reversal of provision) for loan losses 900 (1,500)
Stock-based compensation 655 588
Depreciation and amortization of bank premises and equipment 774 764
Accretion and amortization of securities, net 4,319 4,391
Net loss on sale/call of available-for-sale securities 152 221
Gain on sale of loans held-for-sale (145) (1,528)
(Benefit) provision for deferred income taxes (687) 1,000
Valuation adjustment on mortgage servicing rights (276) (110)
Proceeds from sales of loans held-for-sale 10,693 68,819
Originations of loans held-for-sale (9,485) (60,929)
Decrease in deferred loan origination fees and costs, net (2,062) (736)
Amortization of operating lease right-of-use asset 1,102 1,060
Increase in interest receivable and other assets (981) 0
Increase (decrease) in interest payable and other liabilities 937 (951)
Net cash provided by operating activities 21,780 25,275
Cash flows from investing activities:    
Proceeds from maturities of available-for-sale securities 22,100 21,730
Proceeds from sales of available-for-sale securities 6,348 21,917
Principal repayments on available-for-sale securities 96,308 97,780
Purchase of available-for-sale securities (176,919) (357,150)
Proceeds from maturities of certificates of deposit 5,151 5,880
Proceeds from sales of certificates of deposit 493 0
Purchase of certificates of deposit (13,320) (2,229)
Purchases of stock in Federal Home Loan Bank and other equity securities, at cost (2,343) (617)
Net (increase) decrease in loans (116,259) 27,114
Purchases of bank premises and equipment, net (344) (803)
Net cash used in investing activities (178,785) (186,378)
Cash flows from financing activities:    
Net (decrease) increase in deposits (1,428) 250,140
Principal payments on Federal Home Loan Bank advances 0 (5,000)
Cash dividends paid in lieu of fractional shares (8) (8)
Common stock issued 116 97
Repurchases of common stock (187) (5,374)
Net cash (used in) provided by financing activities (1,507) 239,855
Net (decrease) increase in cash and cash equivalents (158,512) 78,752
Cash and cash equivalents at beginning of year 345,929 267,177
Cash and cash equivalents at end of year $ 187,417 $ 345,929