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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 4,108 $ 2,484
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 692 707
Provision for loan losses 525 1,892
Amortization/accretion of premiums, discounts and deferred costs and fees, net 70 371
Amortization of operating lease right-of-use assets 71 68
Amortization of intangible assets and mortgage servicing rights 130 137
Realized gain on sales of debt securities, net (29) (635)
Change in fair value of equity securities 5 5
Net gain on sales of loans (202) 0
Net gain on foreclosed real estate (35) 0
Net loss on sale of premises and equipment 16 0
Loans originated for sale (8,285) 0
Proceeds from the sale of loans originated for sale 8,562 0
Write-down of foreclosed real estate 0 32
Stock compensation expense 224 224
Increase in bank-owned life insurance (212) (209)
Increase in accrued interest receivable (354) (849)
Increase in prepaid expenses and other assets (365) (196)
Decrease in accrued interest payable (26) (42)
Increase in accrued expenses and other liabilities 7,317 241
Net cash provided by operating activities 12,212 4,230
Cash flows from investing activities    
Loan originations and principal collections, net 4,938 (110,767)
Proceeds from sales of loans held for sale previously classified as portfolio loans 700 0
Available-for-sale securities:    
Sales 248 40,011
Maturities, repayments and calls 9,753 11,801
Purchases (81,868) (20,459)
Purchase of federal bank stocks (700) (2,512)
Redemption of federal bank stocks 489 2,121
Net change in interest earning time deposits 2,238 3,236
Proceeds from surrender of bank-owned life insurance 0 220
Proceeds from the sale of bank premises and equipment 971 0
Purchases of premises and equipment (247) (571)
Proceeds from the sale of foreclosed real estate 380 166
Net cash used in investing activities (63,098) (76,754)
Cash flows from financing activities    
Net increase in deposits 65,692 81,588
Proceeds from long-term debt 0 20,000
Repayments on long-term debt 0 (16,500)
Dividends paid (1,727) (1,716)
Net cash provided by financing activities 63,965 83,372
Net increase in cash and cash equivalents 13,079 10,848
Cash and cash equivalents at beginning of period 37,439 14,986
Cash and cash equivalents at end of period 50,518 25,834
Supplemental information:    
Interest paid 2,867 4,415
Income taxes paid 1,650 100
Supplemental noncash disclosure:    
Transfers from loans to foreclosed real estate 0 267
Transfers from portfolio loans to loans held for sale 700 0
Bonds purchased, not yet settled $ 7,992 $ 0