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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 10,149 $ 8,834
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 705 (160)
Depreciation and amortization 363 642
Amortization of premiums on securities, net 306 192
Accretion of deferred loan fees, net (508) (2,016)
Stock based compensation 265 97
Gain on sale of available for sale securities (18) (249)
Gain on sale of loans held for sale (356) (987)
Increase in cash surrender value of bank owned life insurance (529) (335)
Decrease in deferred tax asset 3,567 2,760
Net change in operating assets and liabilities:    
Accrued interest receivable (16) (65)
Other assets (2,069) (863)
Accrued interest and other liabilities 8,246 6,001
Net cash provided by operating activities 20,105 13,851
Cash flows from investing activities:    
Purchase of investment securities held to maturity (2,432)  
Proceeds from maturities and pay-down of investment securities held to maturity 8,173  
Purchase of investment securities available for sale (42,794) (138,937)
Proceeds from maturities and pay-down of investment securities available for sale 26,950 28,159
Proceeds from sales of investment securities available for sale 31,838 43,266
Net increase in loans held for investment (115,607) (68,609)
Purchase of loans held for investment (70,175) (44,868)
Additions to premises and equipment (173) (240)
Proceeds from the sale of loans held for sale 4,018 9,811
Proceeds from the redemption of Federal Home Loan Bank stock   611
Purchase of Federal Home Loan Bank stock (1,302)  
Net cash used in investment activities (161,504) (170,807)
Cash flows from financing activities:    
Proceeds from issuance of Class A common stock, net 102  
Cash dividends paid   (1,535)
Redemption of Preferred stock   (7,500)
Net increase in deposits 148,341 165,374
Proceeds from Federal Home Loan Bank advances 30,000  
Net cash provided by financing activities 178,443 156,339
Net increase (decrease) in cash and cash equivalents 37,044 (617)
Cash and cash equivalents at beginning of year 46,228 47,734
Cash and cash equivalents at end of year 83,272 47,117
Supplemental disclosures of cash flow information:    
Interest paid 2,002 2,359
Supplemental schedule of non-cash investing and financing activities:    
Transfer of loans held for investment to loans held for sale 3,662 8,824
Transfer of premises and equipment to assets held for sale   $ 656
Lease liability arising from obtaining right-of-use assets $ 898