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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 $ 6,997 $ 11,558
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and accretion of premiums and discounts on investments, net 230 329
Net realized loss on sales and calls of securities 170 4
Net realized gain on sale of other real estate owned   (9)
Provision for (credit to) loan losses 1,414 (3,667)
Loans originated for sale (20,090) (74,106)
Proceeds from sale of loans 24,656 75,456
Net gain on sale of loans (864) (2,582)
Amortization of intangible assets 99 96
Depreciation and amortization 1,555 1,560
(Loss) gain on disposal of premises and equipment 38 (17)
Deferred income tax expense 14 1,107
Increase in cash surrender value of insurance (640) (571)
Net (increase) decrease in accrued interest receivable (889) 453
Expense of earned ESOP shares 216 227
Share-based compensation expense 615 618
Increase in other assets (3,034) (5,968)
Increase in accrued expenses and other liabilities 4,308 3,164
Net cash provided by operating activities 14,795 7,652
Cash Flows from Investing Activities    
Proceeds from sales and calls of securities 14,816 4,000
Proceeds from maturities and principal repayments of securities 39,407 58,232
Purchases of securities (30,224) (244,632)
Net (purchases) redemptions of FHLB Stock (1,936) 1,465
Net (increase) decrease in loans (144,517) 23,745
Purchases of bank owned life insurance (23) (10,024)
Purchases of bank premises and equipment (1,132) (1,774)
Net proceeds from life insurance   341
Net cash received from acquisition (Note 2)   32,767
Proceeds from sale of other real estate owned   148
Net cash used in investing activities (123,609) (135,732)
Cash Flows from Financing Activities    
Net (decrease) increase in demand deposits, NOW, money market and savings accounts (31,549) 182,516
Net increase (decrease) in time deposits 59,483 (43,744)
Increase in mortgagors' escrow accounts 602 636
Net increase (decrease) in short-term debt 34,505 (15,865)
Net (decrease) increase in long-term debt 5,177 (16,768)
Stock repurchase for tax withholding on restricted stock vesting (111) (125)
Proceeds from exercise of stock options   36
Net cash provided by financing activities 68,107 106,686
Net decrease in cash and cash equivalents (40,707) (21,394)
Cash and Cash Equivalents    
Beginning balance 72,091 93,485
Ending balance 31,384 72,091
Supplemental Disclosures of Cash Flow Information    
Interest 6,070 4,608
Income taxes $ 1,898 (40)
Noncash Investing Activities    
Fair value of assets acquired   1,277
Fair value of liabilities assumed   $ 34,044