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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities    
Net income $ 22,171 $ 15,717
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and accretion, net 1,893 1,746
Amortization of right-of-use assets 472 390
Deferred income tax (benefit) 336 (1,752)
Writedown of other real estate owned 22 432
Loss (gain) on transfer or sale of other real estate owned 40 (43)
Provision for (recovery of) loan losses (1,175) 3,610
Stock based compensation expense 1,888 1,529
Income from bank owned life insurance (900) (779)
Subordinated debt amortization expense 223 29
Gain on disposal of premises and equipment (57) (36)
Gain on loans held for sale (847) (33)
Gain on called held-to-maturity securities (6)  
Proceeds from sale of loans 31,264  
Change in:    
Accrued interest receivable and other receivables 1,903 (4,184)
Other assets 8,224 (8,167)
Other liabilities (5,063) 8,524
Net cash provided by operating activities 60,388 17,016
Activity in available-for-sale securities:    
Payments 7,635 8,931
Maturities, sales, called, refunded 417,000 235,000
Purchases (378,619) (298,352)
Activity in held-to-maturity securities:    
Purchases   (1,005)
Maturities, called, refunded 2,040 2,260
Purchases of equity securities (10,651)  
Purchases of restricted investment in bank stock (758) (1,222)
Redemption of restricted investment in bank stock 332 2,763
Net increase in loan portfolio (83,617) (260,932)
Proceeds from sale of other real estate owned 343  
Purchases of bank owned life insurance (10,000)  
Proceeds from sale of premises and equipment 79 53
Purchases of premises and equipment (1,806) (1,282)
Computer software developed (2,493)  
Net cash used in investing activities (60,515) (313,786)
Cash Flows from Financing Activities    
Net increase in non-interest deposits 160,181 117,790
Net increase (decrease) in interest bearing demand, savings, and time deposits (186,464) 248,833
Net decrease in Federal Home Loan Bank advances and other borrowings   (40,000)
Net increase in subordinated debt 14,237  
Issuance of preferred stock, net   27,263
Cash dividends paid on preferred stock (2,156) (635)
Repurchase of common stock   (13,797)
Net cash provided by (used in) financing activities (14,202) 339,454
Increase (decrease) in Cash and Cash Equivalents (14,329) 42,684
Cash and Cash Equivalents, beginning of period 107,528 64,844
Cash and Cash Equivalents, end of period 93,199 107,528
Supplementary Disclosure of Cash Flow Information    
Cash paid during the period for interest 10,165 16,358
Cash paid during the period for income taxes 6,838 4,618
Right of use assets obtained in exchange for new operating lease liabilities 1,922  
Transfers from loans to other real estate owned   362
Transfers from loans receivable to loans held for sale, at carrying value   57,006
Transfers from loans held for sale to loans receivable 26,046  
Net unrealized gain (loss) on securities available-for-sale $ (1,023) $ 678