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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:              
Net income $ 3,130 $ 3,489 $ 3,543 $ 3,255 $ 6,619 $ 6,798  
Adjustments to reconcile net income to net cash (used in) provided by operating activities:              
Depreciation         855 853  
Net amortization of premium on investment securities available for sale         1,613 1,089  
Net amortization of premium on investment securities held-to-maturity         78  
(Release of) provision for loan losses (70)   168   (195) 345 $ 335
Write-downs of other real estate owned         19 33  
Origination of loans held-for-sale         (44,683) (76,404)  
Sale of loans held-for-sale         47,270 110,008  
(Gain) Loss on sale of other real estate owned         45 (77)  
Amortization of intangibles 40   52   79 109  
Accretion on acquired loans         (25) (64)  
(Gain) Loss on fair value of securities         1 (2)  
(Increase) decrease in other assets         (1,422) 786  
Increase (decrease) in other liabilities         (1,546) (2,042)  
Net cash (used in) provided by operating activities         8,708 41,432  
Cash flows from investing activities:              
Purchase of investment securities available-for-sale         (81,692) (139,458)  
Purchase of investment securities held-to-maturity         (6,843)    
Purchase of other investment securities         (144) (20)  
Maturity/call of investment securities available-for-sale         40,867 24,424  
Maturity/call of investment securities held-to-maturity         1,947    
Proceeds from sales of other investments         355  
Increase in loans         (52,368) (34,338)  
Proceeds from sale of other real estate owned         117 201  
Purchase of property and equipment         (300) (277)  
Net disposal of property and equipment         24  
Net cash used in investing activities         (98,392) (149,113)  
Cash flows from financing activities:              
Increase in deposit accounts         107,684 100,470  
Increase in securities sold under agreements to repurchase         17,584 19,573  
Shares retired / forfeited   (42)   (70) (42) (70)  
Dividends paid: Common Stock (979) (977) (898) (896) (1,956) (1,794)  
Restricted stock units granted 1,418       1,418  
Proceeds from issuance of Common Stock         28 136  
Change in non-vested restricted stock 89 79 93 84 168 177  
Dividend reinvestment plan         181 184  
Net cash provided by financing activities         125,065 118,676  
Net increase in cash and cash equivalents         35,381 10,995  
Cash and cash equivalents at beginning of period   $ 69,022   $ 64,992 69,022 64,992 64,992
Cash and cash equivalents at end of period 104,403   75,987   104,403 75,987 $ 69,022
Supplemental disclosure:              
Interest         1,028 2,396  
Income taxes         1,867 2,837  
Non-cash investing and financing activities:              
Unrealized loss on securities available-for-sale, net of tax $ 1,558   $ 2,320   (16,730) (3,841)  
Unrealized loss on securities held-to-maturity, net of tax         (13,092)    
Transfer of investment securities available-for-sale to held-to-maturity         245,619  
Transfer of loans to foreclosed property         $ 145