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Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 6,208 $ 4,636
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 1,180 1,201
Provision for credit losses 753 2,781
Deferred income tax provision (benefit) (566) (309)
Proceeds from settlement of derivative contracts 2,166  
Reclassification of unrealized gains on terminated derivative contracts (848)  
Stock-based compensation expense 448 361
Net amortization of securities 40 169
Amortization of intangible assets 159 213
Net loss (gain) on premises and equipment and other real estate 613 (350)
Changes in assets and liabilities:    
Increase in accrued interest receivable (511) (135)
Decrease in other assets 333 750
Increase in accrued interest expense 1,257 495
Decrease in other liabilities (225) (310)
Net cash provided by operating activities 11,007 9,502
Cash flows from investing activities:    
Net decrease (increase) in federal funds sold 625 (38)
Purchases of investment securities, available-for-sale (6,756) (39,256)
Proceeds from maturities and prepayments of investment securities, available-for-sale 9,267 15,111
Proceeds from maturities and prepayments of investment securities, held-to-maturity 587 1,317
Net increase in Federal Home Loan Bank stock (792) (1,139)
Net increase in loans (43,533) (45,590)
Proceeds from the sale of premises and equipment and other real estate 482 2,892
Purchases of premises and equipment (979) (672)
Net cash used in investing activities (41,099) (67,375)
Cash flows from financing activities:    
Net increase in deposits 57,013 8,411
Net increase in short-term borrowings 9,962 30,060
Net share-based compensation transactions (25)  
Repurchases of common stock   (4,481)
Dividends paid (881) (541)
Net cash provided by financing activities 66,069 33,449
Net increase (decrease) in cash and cash equivalents 35,977 (24,424)
Cash and cash equivalents, beginning of period 30,152 61,244
Cash and cash equivalents, end of period 66,129 36,820
Supplemental disclosures:    
Interest 9,364 2,031
Income taxes 2,374 1,804
Non-cash transactions:    
Assets acquired in settlement of loans $ 1,178 $ 656