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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,786 $ 2,021
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 424 401
(Recovery of) provision for credit losses (43)
Income on bank owned life insurance (18) (14)
Gain on sale of mortgage loans (4) (4)
Loss (gain) on sale or disposal of premises and equipment 33 (129)
Loans originated for sale (105) (81)
Proceeds from sales of loans originated for sale 109 85
Net amortization/accretion of bond premiums/discounts 71 74
Deferred tax (benefit) expense (261) (2)
Net change in:    
Accrued interest receivable (19) 137
Other assets (331) (575)
Accrued interest payable 304 223
Accrued expenses and other liabilities 368 (766)
Net cash provided by operating activities 2,314 1,370
CASH FLOWS FROM INVESTING ACTIVITIES    
Net increase in loans (337) (5,886)
Purchase of securities available-for-sale (3,098)
Proceeds from repayments and maturities of securities available-for-sale 2,762 1,986
Net (purchase) redemption of equity securities (restricted) (36) 10
Payments for the purchase of premises and equipment (299) (271)
Proceeds from sale of premises and equipment 804
Net cash used in investing activities (1,008) (3,357)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in noninterest bearing deposits 791 4,650
Net change in interest-bearing deposits 23,521 11,460
Dividends paid (1,661) (1,430)
Repurchase of common stock (85) (46)
Net cash provided by financing activities 22,566 14,634
Net increase in cash and cash equivalents 23,872 12,647
Cash and cash equivalents, beginning of the period 64,977 61,686
Cash and cash equivalents, end of the period 88,849 74,333
Supplemental disclosure of cash paid during the period for:    
Interest 3,380 1,231
Taxes 1,225
Supplemental disclosure of non-cash transactions:    
Change in unrealized losses on securities available-for-sale $ (1,056) $ 2,706