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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 956 $ 20,751 $ 22,517
Adjustments to reconcile net income to net cash from operating activities:      
Provision for (release of) for credit losses on loans and unfunded commitments 2,340 (900) (1,700)
Depreciation expense 2,106 2,141 2,283
Net amortization of investment securities, premiums, and discounts 1,008 1,358 1,743
Change in fair value of mortgage servicing rights 1,200 (176) 186
Investment securities losses (gains), net 11,547 14 (149)
(Gains) losses on sales and dispositions of premises and equipment (133) (160) 29
Gain on sales and dispositions of other real estate and repossessed assets (298) (255) (27)
Provision for (release of) valuation allowance for other real estate owned 4,729 (29) 965
Share-based compensation expense 42 0 0
(Increase) decrease in accrued interest receivable (708) (1,332) 19
Increase in cash surrender value - life insurance (57) (58) (58)
Increase in other assets (4,894) (1,413) (2,222)
Decrease in operating lease liabilities (320) (304) (300)
Increase (decrease) in accrued interest payable 870 620 (555)
Increase (decrease) in other liabilities 2,553 (1,522) 4,981
Origination of mortgage loans held for sale (106,978) (83,012) (196,924)
Proceeds from the sale of mortgage loans held for sale 106,206 87,217 206,589
Gain on sale of mortgage loans, net (2,560) (2,661) (7,165)
Net cash provided by operating activities 17,609 20,279 30,212
Cash flows from investing activities:      
Purchase of certificates of deposit in other banks 0 (735) (245)
Proceeds from maturities of certificates of deposit in other banks 2,219 2,966 4,436
Net increase in loans (18,267) (219,646) (15,449)
Purchase of available-for-sale debt securities (29,512) (21,282) (178,576)
Proceeds from maturities of available-for-sale debt securities 23,780 30,899 38,386
Proceeds from calls of available-for-sale debt securities 615 2,295 16,515
Proceeds from sales of available-for-sale debt securities 74,506 0 5,420
Purchases of FHLB stock (14,672) (13,334) (362)
Proceeds from sales of FHLB stock 14,757 12,375 1,334
Purchases of premises and equipment (2,097) (2,566) (591)
Proceeds from sales of premises and equipment 172 317 46
Proceeds from sales of other real estate and repossessed assets 2,691 2,176 1,551
Net cash provided by (used in) investing activities 54,192 (206,535) (127,535)
Cash flows from financing activities:      
Net (decrease) increase in demand deposits (51,202) 377 70,574
Net (decrease) increase in interest-bearing transaction accounts (77,150) 105,244 94,550
Net increase (decrease) in time deposits 67,117 9,638 (31,910)
Net decrease in federal funds purchased and securities sold under agreements to repurchase (5,187) (18,642) (21,325)
Repayment of FHLB advances and other borrowings (337,840) (315,399) (29,256)
FHLB advances 346,840 335,981 0
Purchase of treasury stock 0 (2,892) (2,148)
Cash dividends paid - common stock (4,649) (4,240) (3,616)
Net cash (used in) provided by financing activities (62,071) 110,067 76,869
Net increase (decrease) in cash and cash equivalents 9,730 (76,189) (20,454)
Cash and due from banks at beginning of year 83,720 159,909 180,363
Cash and due from banks at end of year 93,450 83,720 159,909
Cash paid during the year for:      
Interest 32,059 9,919 6,464
Income taxes 1,925 4,307 4,729
Noncash investing and financing activities:      
Other real estate and repossessed assets acquired in settlement of loans 71 162 723
Stock dividends $ 6,005 $ 6,865 $ 5,385