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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net Income $ 6,469 $ 9,036
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 220 213
Deferred income tax benefit (735) (262)
Net amortization of investment premiums and discounts 410 755
Net amortization of deferred loan costs and fees 40 76
Amortization of subordinated debt issuance costs 47 46
Provision for credit losses 457 (499)
Bank-owned life insurance income (362) (340)
Net loss on equity securities 7 19
Net loss on sale of foreclosed real estate 0 5
Net increase (decrease) in accrued income taxes 1,346 (72)
Net increase in accrued interest receivable (1,512) (1,619)
Net decrease in prepaid expenses and other assets 109 439
Net decrease in accrued expense and other liabilities (238) (3,396)
Net cash provided by operating activities 6,258 4,401
Securities available-for-sale:    
Proceeds from maturities 43,355 80,476
Purchases of securities (77,044) (22,256)
Proceeds from principal payments on securities 942 6,898
Securities held-to-maturity:    
Proceeds from maturities 18,192 21,539
Purchases of securities (7,997) (21,292)
Proceeds from principal payments on securities 3,649 8,297
Net (purchase) redemption of Federal Home Loan Bank Stock (297) 4,358
Maturity of long-term certificates of deposit 500 245
Net increase in loans receivable (39,608) (98,073)
Proceeds from sale of foreclosed real estate 0 63
Purchases of premises and equipment (474) (154)
Net cash used in investing activities (58,782) (19,899)
Cash flows from financing activities:    
Net decrease in short-term FHLB advances 0 (100,300)
Proceeds from term FHLB advances 4,374 0
Payment of cash dividends (1,362) (546)
Net (decrease) increase in deposits (16,680) 114,259
Net cash (used in) provided by financing activities (13,668) 13,413
Net decrease in cash and cash equivalents (66,192) (2,085)
Cash and cash equivalents at beginning of period 196,445 69,009
Cash and cash equivalents at end of period 130,253 66,924
Cash paid during period for:    
Interest 11,638 3,266
Income taxes $ 356 $ 1,932