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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities:    
Net income $ 7,730 $ 9,108
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,148 2,073
Amortization of right of use lease asset 430 350
Accretion related to acquisition, net 44 21
Amortization of subordinated debt issuance costs 130 131
Provision for credit losses 2,601 1,706
Loss on sale of securities, net 134 1,870
Net amortization of securities 710 1,193
(Increase) decrease in loans held for sale, net (49) 2,866
Net gain on disposal of premises and equipment (220) (1,690)
Net gain on write-down/sale of repossessed assets 69 0
Income from bank owned life insurance (1,038) (909)
Stock compensation expense 546 416
Deferred tax expense (88) (51)
Increase in other assets (1,093) (1,371)
(Decrease) increase in accrued expenses and other liabilities (1,058) 1,852
Net cash provided by operating activities 10,996 17,565
Investing activities:    
Purchases of available-for-sale securities (16,315) (71,218)
Purchase of redemption of restricted securities, net (681) (2,400)
Proceeds from maturities and calls of available-for-sale securities 890 5,750
Proceeds from sales of available-for-sale securities 24,171 26,000
Paydowns on available-for-sale securities 14,687 16,799
Proceeds from sale of loans held for investment 0 7,328
Purchases of loans held for investment 0 (68,216)
Net increase in loans held for investment (55,109) (123,110)
Proceeds from sales of other real estate owned 0 986
Purchases of bank-owned life insurance 0 (5,000)
Purchases of premises and equipment (1,053) (1,354)
Proceeds from sale of premises and equipment 863 995
Net cash used in investing activities (32,547) (213,440)
Financing activities:    
Decrease in noninterest-bearing deposits (86,590) (2,949)
Increase (decrease) in savings deposits 71,167 (1,923)
Increase (decrease) in time deposits 89,801 (16,208)
(Decrease) increase in federal funds purchased, repurchase agreements and other borrowings, net (13,982) 11,829
Increase in Federal Home Loan Bank advances 457,300 118,100
Repayment of Federal Home Loan Bank advances (433,950) (72,000)
Repayment of Federal Reserve Bank borrowings 0 (480)
Proceeds from Employee Stock Purchase Plan issuance 131 129
Repurchase of common stock 0 (6,655)
Cash dividends paid on common stock (2,817) (2,640)
Net cash provided by financing activities 81,060 27,203
Net increase (decrease) in cash and cash equivalents 59,509 (168,672)
Cash and cash equivalents at beginning of period 19,250 187,922
Cash and cash equivalents at end of period 78,759 19,250
Cash payments for:    
Interest 17,159 3,333
Supplemental schedule of noncash transactions    
Unrealized gain (loss) on securities available-for-sale 4,098 (28,409)
Loans transferred to repossessed assets 215 279
Former bank property transferred from fixed assets to held for sale assets 0 345
Right of use lease asset and liability 0 911
Impact of adoption of ASC 326 $ 991 $ 0