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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (2,692) $ (173)
Adjustments to reconcile net loss to net cash used in operating activities:    
Provision for credit losses 1,914 247
Depreciation 102 164
Net change of deferred loan origination costs 114 137
Net accretion of premiums and discounts on available-for-sale securities (57) (253)
Accretion of purchase accounting marks on loans (103) (32)
Amortization of core deposit intangible 79 84
Accretion of premium on FHLB advances 0 (4)
ESOP compensation expense 50 47
Earnings on bank owned life insurance (11) (11)
Change in assets and liabilities:    
Net change in deferred taxes (1,113) (54)
Net change in accrued interest receivable (623) (700)
Net change in other assets 102 (9,857)
Net change in accrued expenses and other liabilities (2,377) (1,336)
Net cash used in operating activities (4,348) (11,664)
Cash flows from investing activities:    
Net change in loans receivable held for investment 6,445 (46,106)
Principal payments on available-for-sale securities 20,396 23,157
Purchase of FHLB stock (2,684) (136)
Proceeds from redemption of FHLB stock 7,705 0
Purchase of office properties and equipment (15) (55)
Net cash provided by (used in) investing activities 31,847 (23,140)
Cash flows from financing activities:    
Net change in deposits 31,144 12,859
Net change in securities sold under agreements to repurchase 14,168 (1,794)
Repayment of notes payable 0 (14,000)
Cash dividends paid - preferred (750) 0
Proceeds from secured borrowings 0 1,816
Repayments of secured borrowings (100) (2,115)
Proceeds from FHLB advances 176,500 0
Repayments of FHLB advances (294,032) (35)
Net cash used in financing activities (73,070) (3,269)
Net change in cash and cash equivalents (45,571) (38,073)
Cash and cash equivalents at beginning of the period 61,365 105,195
Cash and cash equivalents at end of the period 15,794 67,122
Supplemental disclosures of cash flow information:    
Cash paid for interest 6,402 5,913
Cash paid for income taxes 0 48
Directors [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Director compensation expense 168 0
Employees, Excluding Directors [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Director compensation expense $ 99 $ 77