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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 $ 9,108 $ 8,440
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,073 2,091
Amortization of right of use lease asset 350 347
Accretion related to acquisition, net 21 (2)
Amortization of subordinated debt issuance costs 131 60
Provision for loan losses 1,706 794
Gain on sale of securities, net 1,870 0
Net amortization of securities 1,193 989
Decrease in loans held for sale, net 2,866 11,126
Net (gain) loss on disposal of premises and equipment (1,690) 0
Income from bank owned life insurance (909) (1,014)
Stock compensation expense 416 294
Deferred tax expense (51) 275
Increase in other assets (1,371) (748)
Increase in accrued expenses and other liabilities 1,852 524
Net cash provided by operating activities 17,565 23,176
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of available-for-sale securities (71,218) (90,070)
(Purchase of) proceeds from redemption of restricted securities, net (2,400) 333
Proceeds from maturities and calls of available-for-sale securities 5,750 11,780
Proceeds from sales of available-for-sale securities 26,000 6,880
Paydowns on available-for-sale securities 16,799 19,479
Net increase in loans held for investment (123,110) (7,650)
Purchases of loans held for investment (68,216) 0
Proceeds from sale of loans held for investment 7,328 0
Proceeds from sales of other real estate owned 986 0
Purchases of bank-owned life insurance (5,000) 0
Purchases of premises and equipment (1,354) (1,514)
Proceeds from sale of premises and equipment 995 31
Net cash used in investing activities (213,440) (60,731)
CASH FLOWS FROM FINANCING ACTIVITIES    
(Decrease) increase in noninterest-bearing deposits (2,949) 60,929
(Decrease) increase in savings deposits (1,923) 73,514
Decrease in time deposits (16,208) (24,580)
Increase (decrease) in federal funds purchased, repurchase agreements and other borrowings, net 11,829 (3,433)
Increase in Federal Home Loan Bank advances 118,100 0
Repayment of Federal Home Loan Bank advances (72,000) 0
Repayment of Federal Reserve Bank borrowings (480) (28,070)
Increase in long term borrowings 0 29,347
Proceeds from ESPP issuance 129 103
Repurchase of common stock (6,655) (150)
Cash dividends paid on common stock (2,640) (2,620)
Net cash provided by financing activities 27,203 105,040
Net (decrease) increase in cash and cash equivalents (168,672) 67,485
Cash and cash equivalents at beginning of period 187,922 120,437
Cash and cash equivalents at end of period 19,250 187,922
Cash payments for:    
Interest 3,333 3,149
SUPPLEMENTAL SCHEDULE OF NONCASH TRANSACTIONS    
Unrealized (loss) gain on securities available-for-sale (28,409) (3,030)
Loans transferred to repossessed assets 279 0
Former bank property transferred from fixed assets to held for sale assets 345 902
Right of use lease asset and liability 911 0
Receivable for BOLI death benefit $ 0 $ 1,232