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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 4,246 $ 4,885
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,081 1,092
Amortization of right of use lease assets 312 202
Accretion related to acquisition, net 22 22
Amortization of subordinated debt issuance costs 65 65
Provision for credit losses 341 737
Loss on sale of securities, net 0 164
Net amortization of securities 296 383
Decrease (increase) in loans held for sale, net 470 (596)
Net gain on disposal of premises and equipment 0 (200)
Net loss on write-down/sale of repossessed assets 36 69
Income from bank owned life insurance (535) (513)
Stock compensation expense 205 248
Increase in other assets (108) (955)
Decrease in accrued expenses and other liabilities (1,695) (540)
Net cash provided by operating activities 4,736 5,063
Investing activities:    
Proceeds from redemption (cash used in purchases) of restricted securities, net 1,351 (1,125)
Proceeds from maturities and paydowns of available-for-sale securities 970 0
Proceeds from sales of available-for-sale securities 0 8,088
Paydowns on available-for-sale securities 9,131 7,618
Net decrease (increase) in loans held for investment 23,747 (67,920)
Purchases of premises and equipment (1,951) (487)
Proceeds from sale of premises and equipment 0 839
Net cash provided by (used in) investing activities 33,248 (52,987)
Financing activities:    
Increase (decrease) in noninterest-bearing deposits 28,304 (73,886)
(Decrease) increase in savings deposits (30,917) 41,758
Increase in time deposits 8,791 104,824
Decrease in federal funds purchased, repurchase agreements and other borrowings, net (1,002) (11,865)
Increase in Federal Home Loan Bank advances 44,336 307,850
Repayment of Federal Home Loan Bank advances (74,200) (284,500)
Proceeds from Employee Stock Purchase Plan issuance 59 61
Cash dividends paid on common stock (1,416) (1,405)
Net cash (used in) provided by financing activities (26,045) 82,837
Net increase in cash and cash equivalents 11,939 34,913
Cash and cash equivalents at beginning of period 80,806 21,066
Cash and cash equivalents at end of period 92,745 55,979
Cash payments for:    
Interest 11,724 5,646
Supplemental schedule of noncash transactions    
Unrealized gains on securities available-for-sale 293 1,279
Loans transferred to repossessed assets 1,256 0
Impact of adoption of new accounting pronouncements $ 108 $ 991