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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:              
Net income $ 3,951 $ 3,489 $ 4,748 $ 3,255 $ 10,570 $ 11,546  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation         1,268 1,276  
Net amortization of premium on investment securities available for sale         2,007 1,694  
Net amortization of premium on investment securities held-to-maturity         (107)  
(Release of) provision for loan losses 18   49   (177) 394 $ 335
Write-downs of other real estate owned         19 50  
Origination of loans held-for-sale         (54,858) (107,648)  
Sale of loans held-for-sale         60,220 146,455  
Gain on sale of fixed assets         (13)  
(Gain) Loss on sale of other real estate owned         45 (77)  
Amortization of intangibles 39   52   118 161  
Accretion on acquired loans         (34) (112)  
Gain on fair value of securities         (2)  
(Increase) decrease in other assets         (1,065) 1,108  
Decrease in other liabilities         (234) (894)  
Net cash provided by operating activities         17,772 53,938  
Cash flows from investing activities:              
Purchase of investment securities available-for-sale         (105,943) (201,414)  
Purchase of investment securities held-to-maturity         (11,270)  
Purchase of other investment securities         (144) (62)  
Maturity/call of investment securities available-for-sale         54,669 37,613  
Maturity/call of investment securities held-to-maturity         6,989  
Proceeds from sales of other investments         355  
Increase in loans         (86,161) (37,153)  
Proceeds from sale of other real estate owned         117 201  
Proceeds from sale of fixed assets         301 724  
Purchase of property and equipment         (638) (486)  
Net disposal of property and equipment         24  
Net cash used in investing activities         (142,056) (200,222)  
Cash flows from financing activities:              
Increase in deposit accounts         74,965 144,155  
Increase in securities sold under agreements to repurchase         19,443 18,907  
Shares retired / forfeited   (42)   (70) (42) (70)  
Dividends paid: Common Stock (978) (977) (899) (896) (2,934) (2,693)  
Restricted stock units granted 30       1,448  
Proceeds from issuance of Common Stock         28 46  
Issuance of deferred compensation shares         90  
Change in non-vested restricted stock 155 79 94 84 323 271  
Dividend reinvestment plan         284 280  
Net cash provided by financing activities         93,515 160,986  
Net increase (decrease) in cash and cash equivalents         (30,769) 14,702  
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 38,253   79,694   38,253 79,694 $ 69,022
Supplemental disclosure:              
Interest         1,552 2,850  
Income taxes         2,748 3,827  
Non-cash investing and financing activities:              
Unrealized loss on securities available-for-sale, net of tax $ (7,078)   $ (2,853)   (23,808) (6,694)  
Unrealized loss on securities held-to-maturity, net of tax         (12,722)  
Transfer of investment securities available-for-sale to held-to-maturity         245,619  
Transfer of loans to foreclosed property         $ 145