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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 4,110 $ 2,696 $ 9,398 $ 5,946  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses 419 (30) 803 2,568 $ 2,323
Depreciation     1,404 1,209  
Amortization and accretion     347 847  
Gain on sales and calls of investment securities     5 (22)  
Net gains on sales of assets       (1)  
Loss on equity securities     226 38  
Gain on sale of loans held for sale, originated     (869) (2,863)  
Net (gains) losses on other real estate owned, including writedowns     (5) 118  
Increase in bank owned life insurance cash surrender value     (338) (300)  
Stock-based compensation expense, net of employee tax obligation     71 66  
Net accretion of certain acquisition related fair value adjustments     (163) (679)  
Impairment loss on restricted stock     1    
Changes in assets and liabilities:          
Loans held for sale     4,732 6,918  
Accrued interest receivable     278 821  
Other assets     (621) (3,447)  
Accrued interest payable on deposits     (91) (91)  
Other liabilities     855 3,819  
Net cash provided by operating activities     16,033 14,947  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchases of securities available for sale     (40,599) (43,912)  
Purchases of other investments     (25) (23)  
Purchases of bank owned life insurance       (3,000)  
Purchase of Farmers Bank Stock     (49)    
Proceeds from the sale of Farmers Bank Stock     44    
Purchase of restricted stock       (90)  
Proceeds from maturities and paydowns of securities available for sale     10,717 24,477  
Proceeds from sales of securities available for sale       26,200  
Net increase in loans     (87,840) (69,460)  
Proceeds from sale of assets       174  
Purchases of premises and equipment     (487) (2,116)  
Proceeds from the sales of foreclosed assets     842 1,256  
(Purchases) redemption of restricted stocks     (21) 666  
Net cash used in investing activities     (117,418) (65,828)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Increase in demand, money market, and savings deposits, net     89,287 186,603  
Cash received for the exercise of stock options     115    
Decrease in time deposits, net     (76,225) (19,301)  
Decrease in borrowings, net     (441) (50,239)  
Net decrease in minority interest contributed capital     (452) (225)  
Decrease in finance lease liability     (89) (87)  
Cash paid for stock repurchases       (209)  
Dividends paid     (1,347) (1,330)  
Net cash provided by financing activities     10,848 115,212  
Net (decrease) increase in cash and cash equivalents     (90,537) 64,331  
Cash and cash equivalents, beginning of period     338,829 282,611 282,611
Cash and cash equivalents, ending of period $ 248,292 $ 346,942 248,292 346,942 $ 338,829
Supplementary cash flow information:          
Interest paid     5,291 7,422  
Income taxes paid     2,416 2,400  
Right of use assets and corresponding lease liabilities       3,016  
Unrealized loss on securities available for sale     $ (20,131) $ (1,840)