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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2022
Cash flows from (used in) operating activities            
Net income $ 2,312,000   $ 2,567,000 $ 4,945,000 $ 3,835,000 $ 3,835,000
Adjustments to reconcile net income to net cash from (used in) operating activities            
(Recovery of) provision for credit losses - loans (180,000)   459,000 (95,000)   735,000
Recovery of credit losses - unfunded commitments (8,000)   0 (45,000)   0
Depreciation and amortization       644,000   888,000
Net change in net deferred loan origination costs       (110,000)   (369,000)
Losses on sales of securities [1] 0   0 454,000   0
Valuation adjustment on bank premises held-for-sale 32,000 [1] $ 553,000 (0) [1] 585,000 [1]   (0) [1]
Gain on disposal of premises and equipment       (9,000)   0
Loss (gain) on sale of foreclosed assets       15,000   (15,000)
Foreclosed assets write down 70,000   0 70,000   0
Foreclosed assets valuation adjustments       0   (27,000)
Loss (earnings) on bank-owned life insurance [1] 87,000   (11,000) 171,000   (39,000)
Net change in:            
Accrued interest receivable       (1,161,000)   (2,012,000)
Other assets       847,000   (492,000)
Accrued interest payable and other liabilities       (5,986,000)   (6,680,000)
Net cash from (used in) operating activities       325,000   (4,176,000)
Cash flows from (used in) investing activities            
Proceeds from maturities       1,488,000   2,480,000
Proceeds from principal repayments       378,000   509,000
Proceeds from sale of securities 0   0 42,631,000   0
Purchases of securities       (2,232,000)   (81,196,000)
Net change in loans receivable       53,322,000   (99,254,000)
Proceeds from sale of foreclosed assets       362,000   244,000
Proceeds from sale of premises and equipment       690,000   0
Purchase of premises and equipment, net       (830,000)   (1,065,000)
Net cash from (used in) investing activities       95,809,000   (178,282,000)
Cash flows used in financing activities            
Deposits       (71,214,000)   (43,681,000)
Advance payments by borrowers for taxes and insurance       2,428,000   2,879,000
Proceeds from Federal Home Loan Bank advances       35,000,000   0
Repayments of Federal Home Loan Bank advances       (10,000,000)   (5,000,000)
Repurchase and retirement of common stock       (1,246,000)   (793,000)
Cash dividends paid on common stock       (2,542,000)   (2,638,000)
Net cash used in financing activities       (47,574,000)   (49,233,000)
Net change in cash and cash equivalents       48,560,000   (231,691,000)
Beginning cash and cash equivalents   $ 66,771,000   66,771,000   502,162,000
Ending cash and cash equivalents $ 115,331,000   $ 270,471,000 115,331,000 $ 270,471,000 270,471,000
Supplemental disclosures of cash flow information:            
Interest paid       5,754,000   1,396,000
Income taxes paid       2,260,000   707,000
Income taxes refunded       20,000   8,000
Assets transferred to premises held-for-sale       1,799,000   0
Loans transferred to foreclosed assets       921,000   319,000
Bank-owned life insurance death benefit       $ 0   $ 275,000
[1] Not within the scope of ASC 606