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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net income attributable to common stockholders $ 3,662 $ 4,696 $ 4,366 $ 4,706  
Adjustments to reconcile net income to net cash provided by operating activities:          
Investment securities net (discount accretion) premium amortization (30)     33  
Depreciation expense 606     573  
Provision for credit losses 50     0  
Net realized (gain) loss on equity securities (56)     37  
Increase in mortgage servicing rights resulting from transfers of financial assets (16)     (126)  
Mortgage servicing rights amortization and impairment, net 158     (327)  
Amortization of intangible assets 204     399  
Amortization of restricted stock 216     195  
Net stock based compensation expense 0     1  
Decrease in deferred income taxes 457     911  
Increase in cash surrender value of life insurance (164)     (152)  
Net gain from disposals of foreclosed and repossessed assets (29)     (7)  
Gain on sale of loans held for sale, net (298)     (722)  
New market tax credit depletion expense 0     163  
Net change in:          
Loans held for sale (463)     4,864  
Accrued interest receivable and other assets (837)     410  
Other liabilities (1,640)     (2,099)  
Total adjustments (1,842)     4,153  
Net cash provided by operating activities 1,820     8,859  
Cash flows from investing activities:          
Purchase of available for sale securities (11,007)     (1,750)  
Proceeds from principal payments of available for sale securities 5,077     7,076  
Purchase of held to maturity securities 0     (35,342)  
Proceeds from principal payments and maturities of held to maturity securities 1,075     1,569  
Purchase of equity investments (300)     0  
Net (purchases) sales of other investments (1,594)     221  
Proceeds from sales of foreclosed and repossessed assets 212     28  
Net (increase) decrease in loans (9,082)     20,704  
Net capital expenditures (313)     (797)  
Proceeds from disposal of office properties and equipment 3     0  
New market tax credit investment 0     (4,056)  
Net cash used in investing activities (15,929)     (12,347)  
Cash flows from financing activities:          
Federal Home Loan Bank advances 40,000     0  
Amortization of fair value adjustments for acquired Federal Home Loan Bank advances 0     3  
Federal Home Loan Bank advance termination payments 0     (15,015)  
Federal Home Loan Bank maturities 0     (11,000)  
Amortization of debt issuance costs 58     41  
Proceeds from other borrowings, net of origination costs 0     34,201  
Other borrowings principal reductions (5,167)     (5,606)  
Net increase in deposits 12,073     40,688  
Common stock restricted shares 1     0  
Repurchase shares of common stock 0     (288)  
Surrender of restricted shares of common stock (129)     (141)  
Common stock options exercised 0     20 $ 71
Cash dividends paid (3,040)     (2,742)  
Net cash provided by financing activities 43,796     40,161  
Net increase in cash and cash equivalents 29,687     36,673  
Cash and cash equivalents at beginning of period 35,363   $ 84,364 47,691 47,691
Cash and cash equivalents at end of period 65,050 $ 35,363   84,364 $ 35,363
Cash paid during the period for:          
Interest on deposits 4,325     1,096  
Interest on borrowings 2,947     1,323  
Income taxes 0     0  
Supplemental noncash disclosure:          
Transfers from loans receivable to other real estate owned ("OREO") $ 25     $ 0