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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 6,268 $ 6,590
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 988 544
Net amortization of loans and investment securities 1,720 2,121
Amortization of subordinate debt issuance costs 20 17
Provision for credit losses 1,061
Change in fair value of equity securities 32 (15)
Realized losses on sales of debt securities 1,119 19
Loans originated for sale (8,341) (28,850)
Proceeds from sale of loans 8,616 30,132
Gain on sale of loans held for sale (118) (509)
Increase in cash surrender value of life insurance (220) (217)
Decrease in fair value of derivative (13)
Stock based compensation 253 221
Decrease in other assets 1,573 606
Increase (decrease) in other liabilities 414 (1,360)
Net cash provided by operating activities 13,385 9,286
Cash flows from investing activities    
Net decrease (increase) in long-term interest-earning deposits in other banks 4,997 (1,984)
Proceeds from sales and calls of investment securities available for sale 40,117 82
Proceeds from maturities and pay-downs of securities available for sale 16,062 20,600
Purchase of investment securities available for sale (7,248) (51,496)
Net increase in restricted stock (50) (149)
Net increase in loans (94,417) (35,827)
Capital expenditures (228) (8,584)
Net cash used in investing activities (40,767) (77,358)
Cash flows from financing activities    
Net (decrease) increase in demand deposits, interest-bearing checking, and savings accounts (70,665) 106,000
Net increase (decrease) in time deposits 32,352 (11,172)
Net increase in short-term borrowings 70,000
Dividends paid (2,806) (2,848)
Purchase of Treasury shares (2,394) (1,461)
Cash received from option exercises 17 24
Treasury shares issued under dividend reinvestment plan 811 649
Net cash provided by financing activities 27,315 91,192
(Decrease) increase in cash and cash equivalents (67) 23,120
Cash and cash equivalents at the beginning of the period 64,899 175,149
Cash and cash equivalents at the end of the period 64,832 198,269
Cash paid during the year for:    
Interest on deposits and other borrowed funds 7,813 1,503
Income taxes 1,316 43
Noncash Activities    
Lease liabilities arising from obtaining right-of-use assets 426
Noncash extinguishment of lease liability 537
Noncash decrease in right-of-use asset $ 507