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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net income (loss) $ 3,425 $ 2,779
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 328 285
Amortization of debt issuance costs   8
Deferred income taxes (118) 76
Provision for credit losses 150  
Gain on sales of loans held for sale (1,273) (1,269)
Stock compensation expense 214 268
Proceeds from sale of mortgage loans 49,066 60,443
Origination of mortgage loans held for sale (51,046) (63,793)
Amortization of premiums and accretion of discounts on securities, net (134) (72)
Increase in bank owned life insurance (171) (149)
Net change in:    
Interest receivable (30) 169
Other assets 135 (91)
Interest payable 279 200
Other liabilities (335) (365)
Net cash provided by (used in) operating activities 490 (1,511)
Cash Flows from Investing Activities    
Purchases of available for sale securities (1,582) (2,652)
Proceeds from the sale of available-for-sale securities 0 0
Proceeds from maturities, calls and paydowns of available for sale securities 23,525 4,906
Net increase in loans (30,154) (18,134)
Purchases of premises and equipment, net (239) (427)
Redemption (purchase) of restricted stock, net 708 (1,042)
Net cash provided by (used in) investing activities (7,742) (17,349)
Cash Flows from Financing Activities    
Cash dividends paid (538) (475)
Net increase in deposits 23,567 3,639
Net (decrease) increase in other borrowings (15,000) 25,000
Net cash provided by financing activities 8,029 28,164
Net increase in cash and cash equivalents 777 9,304
Cash and cash equivalents, beginning of period 17,714 16,678
Cash and cash equivalents, end of period 18,491 25,982
Supplemental Disclosure of Cash Flow Information    
Cash payments for interest 5,919 2,993
Cash payments for taxes 349 337
Supplemental Schedule of Non-Cash Activities    
Unrealized (losses) gains on securities available for sale $ (652) 564
Minimum pension adjustment   $ 6