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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net Income (Loss) $ 2,548 $ 2,585
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 248 244
Amortization of other assets 139 319
Origination of loans held for sale (10,755) (4,078)
Proceeds from sale of loans held for sale 10,984 4,445
Net (gain) on sales of loans (161) (456)
Provision for credit losses 475 664
(Gain) on other real estate owned 0 (7)
Amortization of subordinated debt issuance costs 17 17
Stock-based compensation expense 302 317
Premium amortization on securities, net 68 93
Bank owned life insurance income (268) (179)
Changes in assets and liabilities:    
Decrease (increase) in other assets 2,452 (3,017)
Increase (decrease) in other liabilities 705 (733)
Net cash provided by operating activities 6,754 214
Cash Flows from Investing Activities    
Proceeds from maturities, calls, and principal payments of securities available for sale 3,221 3,945
Proceeds from the sale of restricted investments 950 0
Purchases of restricted investments (621) (2,069)
Purchases of bank premises and equipment (94) (7)
Proceeds from the sale of other real estate owned 0 115
Proceeds from sales of loans 0 23,762
Origination of loans net of principal collected 23,003 (100,575)
Funding of capital commitments related to other investments (664) (275)
Net cash provided by (used in) investing activities 25,795 (75,104)
Cash Flows from Financing Activities    
Net (decrease) increase in noninterest bearing demand deposits, savings, and interest bearing demand deposits (1,459) 10,744
Net (decrease) increase in time deposits (30,921) 115,132
Net increase (decrease) in federal funds purchased 347 (32,980)
Net (decrease) in short-term Federal Home Loan Bank advances (10,000) 0
Advances of long-term Federal Home Loan Bank advances 0 45,000
Repurchase and retirement of common stock (169) (128)
Cash dividends paid (1,067) (1,057)
Net cash (used in) provided by financing activities (43,269) 136,711
(Decrease) increase in cash and cash equivalents (10,720) 61,821
Cash and Cash Equivalents    
Beginning 138,353 66,894
Ending 127,633 128,715
Supplemental Disclosures of Cash Flow Information    
Interest 9,923 4,795
Income taxes 0 311
Supplemental Schedule of Noncash Investing and Financing Activities:    
Unrealized (loss) on securities available for sale (2,287) 3,772
Minimum postretirement liability adjustment (5) (8)
Repossessed assets acquired in settlement of loans $ 111 $ 0