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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net earnings $ 1,801 $ 2,543
Adjustments to reconcile net earnings to net cash provided by operating activties:    
Provision for loan losses 400 0
Depreciation and amortization 458 212
Premium amortization and discount accretion, net 446 423
Net gain on securities available for sale (6) (5)
Net gain on sale of loans held for sale (163) (86)
Loans originated for sale (9,844) (5,045)
Proceeds from sale of loans 10,596 4,159
Increase in cash surrender value of bank owned life insurance (117) (110)
Income recognized on death benefit of life insurance (282) 0
Net (increase) decrease in other assets (444) 181
Net (decrease) increase in accrued expenses and other liabilities (1,035) 276
Net cash provided by operating activities 1,810 2,548
Cash flows from investing activities:    
Proceeds from prepayments and maturities of securities available-for-sale 9,575 10,264
Purchase of securities available-for-sale (48,747) (8,974)
Decrease in loans, net 17,015 4,276
Net purchases of premises and equipment (104) (1,446)
Proceeds from bank-owned life insurance death benefit (694) 0
(Increase) decrease in FHLB stock (9) 32
Net cash (used in) provided by investing activities (21,576) 4,152
Cash flows from financing activities:    
Net increase in noninterest-bearing deposits 9,551 10,607
Net increase in interest-bearing deposits 13,082 4,831
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase 306 (667)
Stock repurchases 0 (2,147)
Dividends paid (910) (898)
Net cash provided by financing activities 22,029 11,726
Net change in cash and cash equivalents 2,263 18,426
Cash and cash equivalents at beginning of period 92,443 65,076
Cash and cash equivalents at end of period 94,706 83,502
Cash paid during the period for:    
Interest 1,089 1,033
Income taxes 0 0
Supplemental disclosure of non-cash transactions:    
Initial recognition of operating lease right of use assets 0 891
Initial recognition of operating lease liabilities 0 889
Real estate acquired through foreclosure $ 99 $ 0