XML 22 R9.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities    
Net income $ 14,521 $ 11,021
Adjustments to reconcile net income to net cash (used in) provided by operating activities    
Depreciation 979 996
Amortization of other assets 931 672
Provision For Loan Losses 1,830 1,483
Origination of loans held for sale (14,276) (19,015)
Proceeds from sale of loans held for sale 15,486 18,775
Net (gains) on sales of loans (1,875) (1,658)
Loss on other real estate owned 0 201
Loss on the sale and disposal of premises and equipment 11  
Amortization of Debt Issuance Costs 51  
Loss (gain) on the sale of securities 737 (24)
Stock-based compensation expense 1,017 850
Premium amortization on securities, net 562 1,239
Bank owned life insurance (income) (626) (527)
Deferred tax (benefit) (86) (1,437)
Changes in assets and liabilities:    
(Increase) decrease in other assets (4,742) 6
Increase (decrease) in other liabilities (706) 3,877
Net cash provided by operating activities 13,814 16,459
Cash Flows from Investing Activities    
Proceeds from maturities, calls, and principal payments of securities available for sale 27,630 52,012
Proceeds from the sale of securities available for sale 15,370 15,885
Purchases of securities available for sale (26,819) (100,824)
Proceeds from the sale of restricted investments   222
Purchase of restricted investments (8,184) (4)
Proceeds for the sale of bank premises and equipment 33  
Purchases of bank premises and equipment (838) (520)
Proceeds from the sale of other real estate owned   672
Changes in collateral posted with other financial institutions, net (700)  
Purchase of bank-owned life insurance   (10,000)
Proceeds from sales of loans 155,525 100,176
Net (increase) in loans (492,592) (248,598)
Funding of capital commitments related to other investments (761) (2,238)
Net cash (used in) provided by investing activities (331,336) (193,217)
Cash Flows from Financing Activities    
Net increase in demand deposits, money market and savings accounts 52,530 169,211
Net increase (decrease) in certificates of deposit 34,310 (5,074)
Net increase in federal funds purchased 32,980  
Net increase in Federal Home Loan Bank advances 175,000  
Issuance of subordinated debt, net of issuance costs 29,326  
Issuance of common stock, employee benefit plan 164 179
Retirement of common stock (154) (149)
Cash dividends paid (3,808) (3,261)
Net cash provided by financing activities 320,348 160,906
Increase (decrease) in cash and cash equivalents 2,826 (15,852)
Cash and Cash Equivalents    
Beginning 64,068 79,920
Ending 66,894 64,068
Supplemental Disclosures of Cash Flow Information    
Interest 4,563 1,682
Income taxes 4,368 2,816
Supplemental Schedule of Noncash Investing and Financing Activities:    
Unrealized (loss) on securities available for sale (25,685) (4,346)
Other real estate and repossessed assets acquired in settlement of loans 108 266
Issuance of common stock, dividend investment plan $ 199 520
Lease liabilities arising from right-of-use assets   $ 1,404