XML 18 R9.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net income $ 2,585 $ 3,250
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 244 247
Amortization of other assets 319 200
Origination of loans held for sale (4,078) (4,129)
Proceeds from sale of loans held for sale 4,445 4,298
Net (gains) on sales of loans (456) (478)
Provision for credit losses 664 540
(Gain) on other real estate owned (7)  
Amortization of subordinated debt issuance costs 17 0
Stock-based compensation expense 317 195
Premium amortization on securities, net 93 185
Bank owned life insurance (income) (179) (179)
Changes in assets and liabilities:    
(Increase) decrease in other assets (3,017) 29
(Decrease) in other liabilities (733) (3,981)
Net cash provided by operating activities 214 177
Cash Flows from Investing Activities    
Proceeds from maturities, calls, and principal payments of securities available for sale 3,945 11,140
Purchases of securities available for sale 0 (25,813)
Purchases of restricted investments (2,069) (150)
Purchases of bank premises and equipment (7) (331)
Proceeds from the sale of other real estate owned 115 0
Proceeds from sales of loans 23,762 32,502
Origination of loans net of principal collected (100,575) (68,104)
Funding of capital commitments related to other investments (275) 0
Net cash (used in) investing activities (75,104) (50,756)
Cash Flows from Financing Activities    
Net increase in noninterest bearing demand deposits, savings, and interest bearing demand deposits 10,744 54,999
Net increase (decrease) in time deposits 115,132 (911)
Net (decrease) increase in federal funds purchased (32,980) 0
Net increase in Federal Home Loan Bank advances 45,000 0
Issuance of subordinated debt, net of issuance costs 0 29,327
Repurchase and retirement of common stock (128) (117)
Cash dividends paid (1,057) (877)
Net cash provided by financing activities 136,711 82,421
(Decrease) in cash and cash equivalents 61,821 31,842
Cash and Cash Equivalents    
Beginning 66,894 64,068
Ending 128,715 95,910
Supplemental Disclosures of Cash Flow Information    
Interest 4,795 371
Income taxes 311 0
Supplemental Schedule of Noncash Investing and Financing Activities:    
Unrealized (loss) on securities available for sale 3,772 (13,454)
Minimum postretirement liability adjustment (8) 0
Issuance of common stock, dividend investment plan $ 0 $ 97