XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES    
Net income $ (1,553) $ 1,524
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 293 280
Depreciation 228 192
Amortization of intangible assets 61 67
(Accretion) amortization of premiums and (discounts), net (282) (495)
Origination of loans to be sold   (1,860)
Gain on sale of loans 0 (180)
Share-based and deferred compensation 174 245
Bank-owned life insurance income (140) (110)
Loss (Gain) on sale of debt securities, available for sale 2,370 (13)
Change in accrued interest receivable and other assets (83) (1,590)
Change in accrued interest payable and other liabilities (1,662) (720)
Net cash used in operating activities (594) (2,660)
Investment securities available for sale:    
Proceeds from sales 1,847 513
Proceeds from calls and maturities   750
Proceeds from principal repayments 1,808 3,702
Purchases (9,756)  
Investment securities held to maturity    
Proceeds from principal repayments 613  
Purchases (11,289) (5,000)
Proceeds from redemptions of certificates of deposit with other banks 4,878  
Purchase of restricted investment in bank stocks (2,264) (999)
Redemption of restricted investment in bank stocks 1,507 72
Increase in loans, net (16,827) (15,754)
Purchase of bank-owned life insurance (5,000)  
Purchase of premises and equipment   (156)
Net cash used in investing activities (34,483) (16,872)
FINANCING ACTIVITIES    
Increase in deposits, net 37,726 90,505
Change in short-term borrowings, net 10,312 16,303
Dividends paid (1,217) (737)
Net proceeds from issuance of common stock 9,980  
Net cash provided by financing activities 56,801 106,071
Increase in cash and cash equivalents 21,724 86,539
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 30,011 22,590
CASH AND CASH EQUIVALENTS AT END OF PERIOD 51,735 109,129
SUPPLEMENTAL CASH FLOW DISCLOSURES    
Interest $ 4,773 $ 613