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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 4,885 $ 3,923
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,092 1,013
Amortization of right of use lease asset 202 159
Accretion related to acquisition, net 22 (1)
Amortization of subordinated debt issuance costs 65 65
Provision for credit losses 737 671
Loss on sale of securities, net 164 0
Net amortization of securities 383 616
(Increase) Decrease in loans held for sale, net (596) 1,962
Net gain on disposal of premises and equipment (200) 0
Net gain on write-down/sale of repossessed assets 69 0
Income from bank owned life insurance (513) (426)
Stock compensation expense 248 174
(Increase) decrease in other assets (938) 800
(Decrease) increase in accrued expenses and other liabilities (540) 1,069
Net cash provided by operating activities 5,080 10,025
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of available-for-sale securities (2,367) (41,537)
Purchase of redemption of restricted securities, net (1,125) (355)
Proceeds from maturities and calls of available-for-sale securities 0 1,200
Proceeds from sales of available-for-sale securities 10,438 3,200
Paydowns on available-for-sale securities 7,618 9,302
Net increase in loans held for investment (67,920) (71,363)
Purchases of premises and equipment (487) (601)
Proceeds from sale of premises and equipment 839 0
Net cash used in investing activities (53,004) (100,154)
CASH FLOWS FROM FINANCING ACTIVITIES    
(Decrease) increase in noninterest-bearing deposits (73,886) 12,718
Increase (decrease) in savings deposits 41,758 (6,411)
Increase (decrease) in time deposits 104,824 (10,412)
Decrease in federal funds purchased, repurchase agreements and other borrowings, net (11,865) (152)
Increase in Federal Home Loan Bank advances 307,850 0
Repayment of Federal Home Loan Bank advances (284,500) 0
Repayment of Federal Reserve Bank borrowings 0 (480)
Proceeds from ESPP issuance 61 66
Repurchase of common stock 0 (4,970)
Cash dividends paid on common stock (1,405) (1,336)
Net cash provided by (used in) financing activities 82,837 (10,977)
Net increase (decrease) in cash and cash equivalents 34,913 (101,106)
Cash and cash equivalents at beginning of period 19,250 187,922
Cash and cash equivalents at end of period 54,163 86,816
Cash payments for:    
Interest 5,646 1,583
SUPPLEMENTAL SCHEDULE OF NONCASH TRANSACTIONS    
Unrealized gain (loss) gain on securities available-for-sale 1,279 (22,185)
Former bank property transferred from fixed assets to held for sale assets 0 345
Impact of adoption of ASC 326 $ 991 $ 0