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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net earnings $ 13,003 $ 12,236 $ 9,878
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Provision for credit losses 2,300 349
Valuation allowance on real estate owned 1,108 6 354
Amortization of investment security (discounts) premiums, net (111) 240 1,481
Accretion of purchase accounting adjustments (1,035) (993) (460)
Amortization of mortgage servicing rights and intangibles 1,164 1,844 1,446
Depreciation 1,335 1,270 1,134
Increase in cash surrender value of bank owned life insurance [1] (1,723) (913) (780)
Stock-based compensation 520 352 295
Deferred income taxes (212) 404 (1,190)
Net loss on investment securities 1,031 1,246 1,103
Net gains on sales of premises and equipment and foreclosed assets (326) (1) (114)
Net gains on sales of loans [1] (2,386) (2,269) (3,444)
Proceeds from sale of loans 85,799 80,475 145,923
Origination of loans held for sale (86,384) (76,995) (140,990)
Changes in assets and liabilities:      
Accrued interest and other assets (1,123) (1,276) 5,146
Accrued interest, expenses and other liabilities 1,276 (3,371) 4,998
Net cash provided by operating activities 14,236 12,604 24,780
Cash flows from investing activities:      
Net increase in loans (103,084) (97,361) (73,571)
Net change in interest-bearing deposits at banks 808 4,150 (1,728)
Maturities and prepayments of investment securities 71,080 54,537 53,877
Purchases of investment securities (23,322) (29,112) (226,336)
Proceeds from sale of available-for-sale securities 32,623 20,913 52,597
Redemption of bank stocks 16,487 11,192 4,208
Purchase of bank stocks (14,982) (13,845) (6,074)
Net cash paid in bank acquisition (572)
Proceeds from sales of premises and equipment and foreclosed assets 4,700 7 1,379
Premiums paid on bank owned life insurance (95) (97) (63)
Purchases of premises and equipment, net (2,320) (995) (876)
Net cash used in investing activities (18,105) (50,611) (197,159)
Cash flows from financing activities:      
Net increase in deposits 12,515 15,591 1,758
Federal Home Loan Bank advance borrowings 778,725 727,629 327,360
Federal Home Loan Bank advance repayments (787,893) (677,815) (326,160)
Proceeds from other borrowings 360 10,065
Repayments on other borrowings (2,808) (2,352) (1,065)
Change in repurchase agreements 1,094 (16,688) (199)
Proceeds from exercise of stock options 52
Payment of dividends (4,612) (4,390) (4,198)
Purchase of treasury stock (338) (75) (1,239)
Net cash (used in) provided by financing activities (2,957) 41,952 6,322
Net (decrease) increase in cash and cash equivalents (6,826) 3,945 (166,057)
Cash and cash equivalents at beginning of year 27,101 23,156 189,213
Cash and cash equivalents at end of year 20,275 27,101 23,156
Supplemental disclosure of cash flow information:      
Cash payments paid during the year for income taxes 834 55 1,104
Cash paid during the year for interest 28,321 19,851 4,032
Cash paid during the year for operating leases 177 156 175
Supplemental schedule of noncash investing and financing activities:      
Transfer of premises and equipment to real estate held for sale 4,343
Operating lease asset and related liability recorded 61
Bank acquisition:      
Fair value of liabilities assumed 181,350
Fair value of assets acquired $ 200,033
[1] Not within the scope of ASC 606.