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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net Income $ 4,875 $ 4,863
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 172 175
Deferred income tax benefit (722) (380)
Net amortization of premiums and discounts 664 120
Net amortization of deferred loan costs and fees 89 143
Provision for loan losses 1,243 551
Net (gain) loss on equity securities (6) 2
Gain on sale of foreclosed real estate 0 (76)
Net increase in accrued income taxes 36 558
Net increase in accrued interest receivable (188) (117)
Net increase in prepaid expenses and other assets (583) (1,450)
Net (decrease) increase in other liabilities (84) 1,428
Net cash provided by operating activities 5,496 5,817
Securities available-for-sale:    
Proceeds from maturities 58,292 30,178
Purchases of securities (103,878) (68,828)
Principal payments on securities 2,131 1,739
Securities held-to-maturity:    
Proceeds from maturities 8,046 14,129
Purchases of securities (28,822) (21,466)
Principal payments on securities 13,899 6,852
Net redemption of Federal Home Loan Bank Stock 68 360
Maturity of long term certificates of deposit 245 0
Purchase of long term certificates of deposit (269) (751)
Net increase in loans receivable (36,592) (20,710)
Proceeds from sale of foreclosed real estate 0 41
Purchases of premises and equipment (611) (256)
Net cash used by investing activities (87,491) (58,712)
Cash flows from financing activities:    
Net decrease in short-term advances FHLB 0 (8,000)
Net decrease in short-term advances other banks (17,884) 0
Net proceeds from subordinated notes payable 19,633 0
Repayment of long-term FHLB advances (1,500) 0
Payment of cash dividends (468) (432)
Net increase in deposits 117,918 142,641
Net cash provided by financing activities 117,699 134,209
Net increase in cash and cash equivalents 35,704 81,314
Cash and cash equivalents at beginning of period 40,463 29,538
Cash and cash equivalents at end of period 76,167 110,852
Non-cash investing activities:    
Foreclosed loans transferred to foreclosed real estate 0 215
Cash paid during period for:    
Interest 1,511 2,094
Income taxes $ 1,329 $ 752