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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 3,732 $ 4,168
Items not requiring (providing) cash    
Accretion of premiums and discounts on securities, net 225 267
Amortization of intangible asset 75 75
Depreciation and amortization 366 493
Expense related to share based compensation plans 680 513
Provision for (reversal of) credit loss expense and unfunded commitments 104 (146)
Increase in value of bank-owned life insurance (221) (215)
Gain on sale of loans (195) (7)
Proceeds from sale of loans held for sale 6,219 361
Originations of loans held for sale (6,024) (354)
Loss on sale of available-for-sale securities 116 0
Loss on sale or write down of foreclosed assets 7 44
Amortization of debt instrument costs 30 30
Net change in accrued interest receivable and other assets (2,397) (1,317)
Net change in accrued expenses and other liabilities (52) (282)
Net cash provided by operating activities 2,665 3,630
Investing Activities    
Maturities, prepayments, sales and calls 32,466 260
Purchases (34,906) (19,446)
Net change in loans (1,151) (1,525)
Purchase of FHLB stock (47) (3,149)
Redemption of Federal Home Loan Bank Stock   1,669
Purchases of premises and equipment (3,958) (526)
Proceeds from sale of foreclosed and fixed assets 13 16
Net cash used in investing activities (7,583) (22,701)
Financing Activities    
Net change in deposits 1,730 (6,297)
Net change in securities sold under repurchase agreements 3,655 5,584
Proceeds from Federal Home Loan Bank advances   75,000
Repurchase of common stock (688) (733)
Cash dividends paid on common stock (2,979) (2,800)
Net cash provided by financing activities 1,718 70,754
Increase (Decrease) in Cash and Cash Equivalents (3,200) 51,683
Cash and Cash Equivalents, Beginning of Period 40,770 30,080
Cash and Cash Equivalents, End of Period 37,570 81,763
Supplemental Cash Flows Information    
Interest paid on deposits and borrowings 7,186 $ 4,924
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Transfers from loans to foreclosed assets held for sale $ 35