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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
OPERATING ACTIVITIES      
Net income $ 1,515 $ 2,418  
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision (credit) for credit losses 1,179 (400)  
Depreciation and amortization expense 526 508  
Amortization expense of core deposit intangible 8 8  
Amortization of fair value adjustment on acquired time deposits (14) (37)  
Net amortization of investment securities 2 41  
Net amortization of deferred loan fees (38) (241)  
Net gains on loans held for sale (26) (95)  
Origination of mortgage loans held for sale (1,932) (3,844)  
Sales of mortgage loans held for sale 1,600 4,602  
Increase in accrued interest receivable (286) (400)  
Increase (decrease) in accrued interest payable 184 (553)  
Earnings on bank-owned life insurance (239) (209)  
Deferred income taxes 348 589  
Stock compensation expense 12 13  
Net change in operating leases (16) (24)  
Other, net (1,033) (567)  
Net cash provided by operating activities 1,790 1,809  
INVESTING ACTIVITIES      
Purchase of investment securities - available for sale (3,000) (16,989)  
Purchase of investment securities - held to maturity (493) (5,119)  
Proceeds from maturities of investment securities - available for sale 4,295 7,847  
Proceeds from maturities of investment securities - held to maturity 1,528 438  
Proceeds from sales of investment securities - available for sale 0 0  
Purchase of regulatory stock (4,203) (15)  
Proceeds from redemption of regulatory stock 5,926 207  
Long-term loans originated (41,545) (43,853)  
Principal collected on long-term loans 51,773 50,700  
Purchases of premises and equipment (376) (372)  
Proceeds from sale of other real estate owned and repossessed assets 1    
Net cash provided by (used in) investing activities 13,906 (7,156)  
FINANCING ACTIVITIES      
Net increase in deposit balances 23,266 1,548  
Net decrease in other short-term borrowings (35,652)    
Principal borrowings on advances from Federal Home Loan Bank 6,220    
Principal repayments on advances from Federal Home Loan Bank (9,850) (4,790)  
Principal payments on financing lease liabilities (55) (54)  
Stock options exercised 94 80  
Common stock dividend paid (514) (427)  
Net cash used in financing activities (16,491) (3,643)  
NET DECREASE IN CASH AND CASH EQUIVALENTS (795) (8,990)  
CASH AND CASH EQUIVALENTS AT JANUARY 1 22,962 41,101 $ 41,101
CASH AND CASH EQUIVALENTS AT MARCH 31 $ 22,167 $ 32,111 $ 22,962