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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 2,109 $ 1,090  
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 65 1,740 $ 2,323
Depreciation 470 394  
Amortization and accretion 137 443  
Gain on sales and calls of investment securities   (14)  
Net losses on sales of assets   1  
Loss on equity securities 89 35  
Gain on sale of loans held for sale, originated (258) (1,094)  
Net gains on other real estate owned, including writedowns (5) (8)  
Increase in bank owned life insurance cash surrender value (112) (91)  
Stock-based compensation expense, net of employee tax obligation 24 4  
Net accretion of certain acquisition related fair value adjustments (193) (262)  
Changes in assets and liabilities:      
Loans held for sale 2,980 4,411  
Accrued interest receivable 200 223  
Other assets (361) (270)  
Accrued interest payable on deposits (13) (41)  
Other liabilities 354 404  
Net cash provided by operating activities 5,486 6,965  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of securities available for sale (14,412) (29,859)  
Purchases of other investments (7) (7)  
Proceeds from maturities and paydowns of securities available for sale 3,520 14,508  
Proceeds from sales of securities available for sale   19,664  
Net increase in loans (35,995) (43,262)  
Proceeds from sale of assets   174  
Purchases of premises and equipment (265) (1,160)  
Proceeds from the sales of foreclosed assets 842 288  
(Purchases) redemption of restricted stocks (66) 274  
Net cash used in investing activities (46,383) (39,380)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Increase in demand, money market, and savings deposits, net 71,627 106,830  
Cash received for the exercise of stock options 115    
Decrease in time deposits, net (23,051) (3,243)  
Decrease in borrowings, net (171) (41,591)  
Net (decrease) increase in minority interest contributed capital (60) 185  
Decrease in finance lease liability (29) (29)  
Cash paid for stock repurchases   (208)  
Dividends paid (449) (443)  
Net cash provided by financing activities 47,982 61,501  
Net increase in cash and cash equivalents 7,085 29,086  
Cash and cash equivalents, beginning of period 338,829 282,611 282,611
Cash and cash equivalents, ending of period 345,914 311,697 $ 338,829
Supplementary cash flow information:      
Interest paid 2,021 2,507  
Total loss on securities available for sale $ (7,659) $ (2,275)