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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows (used in) from operating activities    
Net income $ 7,056 $ 5,039
Adjustments to reconcile net income to net cash from operating activities    
Provision for (recovery of) loan losses 1,085 (1,019)
Depreciation and amortization 1,082 1,530
Net change in net deferred loan origination costs (567) 316
Gain on sale of foreclosed assets (7) (29)
Foreclosed assets valuation adjustments (153) 405
Earnings on bank-owned life insurance (25) (82)
Net change in:    
Accrued interest receivable (2,363) (1,177)
Other assets 850 411
Accrued interest payable and other liabilities (6,469) (3,472)
Net cash from operating activities 489 1,922
Cash flows used in investing activities    
Proceeds from maturities 2,728 14,869
Proceeds from principal repayments 707 1,386
Purchases of securities (122,325) (7,193)
Net change in loans receivable (98,487) (43,419)
Loan participation purchased 0 (5,000)
Bank-owned life insurance death benefit 275 0
Proceeds from sale of foreclosed assets 680 3,205
Purchase of premises and equipment, net (1,422) (1,552)
Net cash used in investing activities (217,844) (37,704)
Cash flows (used in) from financing activities    
Deposits (63,173) 60,845
Borrowings (5,000) 1,000
Advance payments by borrowers for taxes and insurance 6,547 (760)
Proceeds from issuance of Subordinated notes 0 20,000
Costs paid for issuance of Subordinated notes 0 (441)
Repurchase and retirement of common stock (3,106) (15,448)
Cash dividends paid on common stock (3,944) (4,295)
Net cash (used in) from financing activities (68,676) 60,901
Net change in cash and cash equivalents (286,031) 25,119
Beginning cash and cash equivalents 502,162 503,496
Ending cash and cash equivalents 216,131 528,615
Supplemental disclosures of cash flow information:    
Interest paid 2,214 1,763
Income taxes paid 2,012 2,641
Income taxes refunded 8 0
Loans transferred to foreclosed assets 319 4,473
Due to broker 3,000 0
Recording of right of use asset in exchange for lease obligations in other assets and other liabilities $ 0 $ 866