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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income attributable to common stockholders $ 12,725 $ 9,463
Adjustments to reconcile net income to net cash provided by operating activities:    
Premium amortization, net of discount accretion on investment securities 142 899
Depreciation expense 1,954 1,564
Provision for loan losses 7,750 3,525
Net realized loss (gain) on equity securities 46 0
Net realized gain on debt securities (156) 0
Net realized loss on sale of securities 0 (271)
Increase in mortgage servicing rights resulting from transfers of financial assets (2,020) (904)
Mortgage servicing rights expense 3,050 1,108
Amortization of intangible assets 1,622 1,496
Amortization of restricted stock 530 470
Net stock based compensation expense 14 18
Loss (gain) on sale of office properties and equipment 178 (32)
Deferred income taxes (2,237) (752)
Increase in cash surrender value of life insurance (621) (552)
Net gain from disposals of foreclosed and repossessed assets (259) (125)
Gain on sale of loans held for sale, net (6,693) (2,462)
Net change in loans held for sale 9,511 (1,504)
(Increase) decrease in accrued interest receivable and other assets (2,080) 4,497
Increase (decrease) in other liabilities 581 (3,602)
Net gain on sale of insurance agency (252) 0
Total adjustments 11,060 3,373
Net cash provided by operating activities 23,785 12,836
Cash flows from investing activities:    
Net decrease in other interest bearing deposits 992 3,708
Purchase of available for sale securities (28,218) (53,915)
Purchase of held to maturity securities (44,441) 0
Proceeds from principal payments and sale of available for sale securities 66,872 58,618
Proceeds from principal payments and maturities of held to maturity securities 3,692 1,999
Net purchases (sales) of other investments 57 (1,299)
Proceeds from sale of foreclosed and repossessed assets 2,780 3,038
Net increase in loans (62,486) (60,874)
Net capital expenditures (2,573) (6,771)
Net cash disbursed in business combination 0 (8,137)
Proceeds from disposal of office properties and equipment 382 300
Net proceeds from sale of insurance agency 1,128 0
Net cash used in investing activities (61,815) (63,333)
Cash flows from financing activities:    
Net (decrease) increase in short-term Federal Home Loan Bank advances (40,973) 1,036
Long-term Federal Home Loan Bank advances 66,500 0
Long-term Federal Home Loan Bank maturities (33,000) 0
Amortization of debt issuance costs 91 0
Proceeds from other borrowings, net of origination costs 14,677 0
Proceeds from other borrowings to fund business combination, net of debt issuance costs 0 29,913
Principal payment reduction to other borrowings 0 (11,000)
Net increase in deposits 99,554 39,553
Common stock issued in F&M acquisition less capitalized equity costs 0 3,105
Repurchase shares of common stock (2,820) 0
Surrender of restricted shares of common stock (27) (53)
Common stock options exercised 0 203
Cash dividends paid (2,372) (2,198)
Net cash provided by financing activities 101,630 60,559
Net increase in cash and cash equivalents 63,600 10,062
Cash and cash equivalents at beginning of period 55,840 45,778
Cash and cash equivalents at end of period 119,440 55,840
Cash paid during the period for:    
Interest on deposits 9,980 12,665
Interest on borrowings 3,950 5,128
Income taxes 7,870 3,847
Supplemental noncash disclosure:    
Transfers from loans receivable to foreclosed and repossessed assets 1,057 1,803
Fair value of assets acquired, net of cash and cash equivalents 0 177,494
Fair value of liabilities assumed, net of cash and cash equivalents $ 0 $ 169,724