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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net earnings $ 3,105 $ 3,892
Adjustments to reconcile net earnings to net cash provided by operating activties:    
Provision for credit losses related to loans and leases 221 (291)
Depreciation and amortization 902 858
Premium amortization and discount accretion, net 770 1,223
Net gain on sale of loans held for sale (142) (61)
Loans originated for sale (5,826) (1,219)
Proceeds from sale of loans 5,911 1,271
Increase in cash surrender value of bank owned life insurance (201) (172)
Income recognized on death benefit of life insurance   (52)
Net (increase) decrease in other assets (1,026) 3,332
Net (decrease) increase in accrued expenses and other liabilities 2,412 (1,406)
Net cash provided by operating activities 6,126 7,375
Cash flows from investing activities:    
Proceeds from prepayments and maturities of securities available-for-sale 12,769 12,470
Decrease in loans, net (20,706) (15,812)
Net purchases of premises and equipment (1,880) (40)
Proceeds from bank-owned life insurance death benefit   (216)
(Increase) decrease in FHLB stock 32 41
Net cash (used in) provided by investing activities (9,785) (3,125)
Cash flows from financing activities:    
Net increase in noninterest-bearing deposits (7,618) (12,892)
Net increase in interest-bearing deposits 57,780 13,297
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase (1,486) (384)
Stock repurchases 0 (99)
Dividends paid (1,887) (1,890)
Net cash provided by financing activities 46,789 (1,968)
Net change in cash and cash equivalents 43,130 2,282
Cash and cash equivalents at beginning of period 71,369 27,254
Cash and cash equivalents at end of period 114,499 29,536
Cash paid during the period for:    
Interest 5,383 2,191
Income taxes $ 460 $ 800