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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 6,247 $ 6,465
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,631 1,550
Amortization of right of use lease asset 333 240
Accretion related to acquisition, net 33 10
Amortization of subordinated debt issuance costs 98 98
Provision for credit losses 1,242 1,073
Loss on sale of securities, net 134 0
Net amortization of securities 564 923
Decrease in loans held for sale, net 129 2,513
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 (776) (653)
Stock compensation expense 419 295
Increase in other assets (2,635) (287)
Increase in accrued expenses and other liabilities 704 1,557
Net cash provided by operating activities 7,992 13,784
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of available-for-sale securities (15,173) (47,543)
Purchase of redemption of restricted securities, net (681) (355)
Proceeds from maturities and calls of available-for-sale securities 200 3,950
Proceeds from sales of available-for-sale securities 23,171 3,950
Paydowns on available-for-sale securities 11,308 13,195
Net increase in loans held for investment (56,267) (112,521)
Purchases of bank-owned life insurance 0 (2,500)
Purchases of premises and equipment (885) (969)
Proceeds from sale of premises and equipment 839 0
Net cash used in investing activities (37,488) (142,793)
CASH FLOWS FROM FINANCING ACTIVITIES    
(Decrease) increase in noninterest-bearing deposits (70,266) 15,716
Increase in savings deposits 35,272 5,789
Increase (decrease) in time deposits 116,583 (16,296)
Decrease in federal funds purchased, repurchase agreements and other borrowings, net (15,042) (555)
Increase in Federal Home Loan Bank advances 347,850 0
Repayment of Federal Home Loan Bank advances (324,500) 0
Repayment of Federal Reserve Bank borrowings 0 (480)
Proceeds from Employee Stock Purchase Plan issuance 101 99
Repurchase of common stock 0 (6,655)
Cash dividends paid on common stock (2,111) (1,988)
Net cash provided by (used in) financing activities 87,887 (4,370)
Net increase (decrease) in cash and cash equivalents 58,391 (133,379)
Cash and cash equivalents at beginning of period 19,250 187,922
Cash and cash equivalents at end of period 77,641 54,543
Cash payments for:    
Interest 11,399 2,609
SUPPLEMENTAL SCHEDULE OF NONCASH TRANSACTIONS    
Unrealized gain (loss) on securities available-for-sale (3,636) (32,307)
Former bank property transferred from fixed assets to held for sale assets 0 345
Right of use lease asset and liability 0 327
Impact of adoption of ASC 326 $ 991 $ 0