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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net income attributable to common stockholders $ 13,059 $ 17,761
Adjustments to reconcile net income to net cash provided by operating activities:    
Investment securities net (discount accretion) premium amortization (64) 41
Depreciation expense 2,371 2,357
Provision for credit losses (475) 1,475
Net realized gain on equity securities (447) (541)
Net realized gain on debt securities (12) 0
Deferred tax asset valuation allowance, net of accretion 1,792 0
Increase in mortgage servicing rights resulting from transfers of financial assets (218) (323)
Mortgage servicing rights amortization and impairment reversal, net 615 222
Amortization of intangible assets 755 1,449
Amortization of restricted stock 722 860
Net stock based compensation expense 0 3
Loss on closure of branch facilities 380 736
Decrease in deferred income taxes 202 506
Increase in cash surrender value of life insurance (693) (642)
Net gain (loss) from disposals of foreclosed and repossessed assets 62 (395)
Gain on sale of loans held for sale, net (1,692) (1,474)
Proceeds from sale of loans held for sale 46,907 46,862
Origination of loans held for sale (50,988) (38,718)
New market tax credit depletion expense 0 650
Net change in:    
Accrued interest receivable and other assets 54 79
Other liabilities 794 (1,620)
Total adjustments 65 11,527
Net cash provided by operating activities 13,124 29,288
Cash flows from investing activities:    
Net decrease in other interest bearing deposits 249 1,262
Purchase of available for sale securities (11,007) (13,315)
Proceeds from principal payments of available for sale securities 16,594 25,815
Proceeds from sales of available for sale securities 5,105 0
Purchase of held to maturity securities 0 (35,342)
Proceeds from principal payments and maturities of held to maturity securities 5,134 10,065
Equity investment capital distribution 132 136
Purchase of equity investments (1,350) (300)
Net sales (purchases) of other investments 284 (290)
Proceeds from sales of foreclosed and repossessed assets 307 1,797
Net increase in loans (48,298) (101,371)
Net capital expenditures (1,367) (3,602)
Proceeds from disposal of office properties and equipment 12 14
New market tax credit investment 0 (4,056)
Net cash used in investing activities (34,205) (119,187)
Cash flows from financing activities:    
Net change in Federal Home Loan Bank short-term advances (68,000) 112,000
Federal Home Loan Bank advances 25,000 0
Amortization of fair value adjustments for acquired Federal Home Loan Bank advances 0 3
Federal Home Loan Bank advance call payments (15,000) (55,000)
Federal Home Loan Bank advance termination payments 0 (15,015)
Federal Home Loan Bank maturities (5,000) (11,000)
Amortization of debt issuance costs 223 398
Proceeds from other borrowings, net of origination costs 0 34,191
Other borrowings principal reductions (5,167) (5,606)
Other borrowings called and repaid 0 (15,000)
Net increase in deposits 94,361 37,185
Restricted common stock awarded under the equity incentive plan 1 0
Repurchase shares of common stock (421) (1,764)
Surrender of restricted shares of common stock (129) (150)
Common stock options exercised 28 71
Cash dividends paid (3,040) (2,742)
Net cash provided by financing activities 22,856 77,571
Net decrease in cash and cash equivalents 1,775 (12,328)
Cash and cash equivalents at beginning of period 35,363 47,691
Cash and cash equivalents at end of period 37,138 35,363
Cash paid during the period for:    
Interest on deposits 23,353 6,435
Interest on borrowings 10,180 6,210
Income taxes 3,977 4,865
Supplemental noncash disclosure:    
Transfers from loans receivable to foreclosed and repossessed assets 158 92
Transfers from office properties and equipment to foreclosed and repossessed assets $ 724 $ 1,171