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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,083 $ 2,031
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 534 514
Amortization of right of use lease asset 101 82
Accretion related to acquisition, net 11 (12)
Amortization of subordinated debt issuance costs 32 33
Provision for loan losses 376 101
Net amortization of securities 186 288
Decrease in loans held for sale, net 96 1,277
Income from bank owned life insurance (254) (231)
Stock compensation expense 107 71
Decrease in other assets 621 764
Decrease in accrued expenses and other liabilities (1,392) (386)
Net cash provided by operating activities 3,501 4,532
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of available-for-sale securities (1,145) (26,118)
(Purchase of) proceeds from redemption of restricted securities, net (1,045) (355)
Proceeds from maturities and calls of available-for-sale securities 0 1,000
Proceeds from sales of available-for-sale securities 1,300 2,450
Paydowns on available-for-sale securities 4,216 4,586
Net increase in loans held for investment (54,359) (12,131)
Purchases of premises and equipment (130) (197)
Net cash used in investing activities (51,163) (30,765)
CASH FLOWS FROM FINANCING ACTIVITIES    
(Decrease) increase in noninterest-bearing deposits (13,422) (36,381)
Increase in savings deposits 44,956 42,320
Increase (decrease) in time deposits 12,062 (4,149)
Decrease in federal funds purchased, repurchase agreements and other borrowings, net (11,848) (1,008)
Increase in Federal Home Loan Bank advances 145,500 0
Repayment of Federal Home Loan Bank advances (119,100) 0
Repayment of Federal Reserve Bank borrowings 0 (480)
Proceeds from ESPP issuance 33 34
Repurchase of common stock 0 (3,048)
Cash dividends paid on common stock (700) (674)
Net cash provided by (used in) financing activities 57,481 (3,386)
Net increase (decrease) in cash and cash equivalents 9,819 (29,619)
Cash and cash equivalents at beginning of period 19,250 187,922
Cash and cash equivalents at end of period 29,069 158,303
Cash payments for:    
Interest 2,417 1,101
SUPPLEMENTAL SCHEDULE OF NONCASH TRANSACTIONS    
Unrealized (loss) gain on securities available-for-sale 2,952 (14,093)
Former bank property transferred from fixed assets to held for sale assets 0 345
Impact of adoption of ASC 326 $ 991 $ 0