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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 6,524 $ 6,796
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,034 1,000
Amortization and accretion of premiums and discounts on investments, net 1,251 1,373
(Accretion) amortization of deferred loan fees, net (1,003) (822)
Amortization of mortgage servicing rights, net 315 181
Additions to mortgage servicing rights, net (989) (60)
Net increase (decrease) on the valuation allowance on mortgage servicing rights 0 (3)
Provision for loan losses 4,116 420
Allocation of ESOP shares 512 636
Share-based compensation 917 804
Gain on sale of loans, net (4,109) (830)
Gain on sale of securities available for sale, net (2,235) (57)
Increase in cash surrender value of life insurance, net (1,577) (435)
Origination of loans held for sale (129,495) (25,050)
Proceeds from loans held for sale 129,353 23,825
Change in assets and liabilities:    
(Increase) decrease in accrued interest receivable (3,436) 322
Increase in prepaid expenses and other assets (1,500) (3,294)
Decrease in accrued interest payable (322) (259)
Increase in accrued expenses and other liabilities 3,967 6,767
Net cash from operating activities 3,323 11,314
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of securities available for sale (234,527) (9,456)
Proceeds from maturities, calls, and principal repayments of securities available for sale 45,684 21,592
Proceeds from sales of securities available for sale 142,276 3,558
Proceeds from maturities, calls, and principal repayments of securities held to maturity 0 5,756
Redemption of FHLB stock 90 1,996
Purchase of bank-owned life insurance, net of surrenders (6,500) 0
Net (increase) decrease in loans receivable (186,588) 22,837
Purchase of premises and equipment, net (1,429) (188)
Net cash from investing activities (240,994) 46,095
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 252,811 30,440
Proceeds from long-term FHLB advances 30,000 15,000
Repayment of long-term FHLB advances (30,000) (25,000)
Net decrease in short-term FHLB advances (3,780) (41,228)
Net increase in advances from borrowers for taxes and insurance 841 786
Dividends paid (1,569) (986)
Net share settlement of stock awards (123) (266)
Repurchase of common stock (7,169) (5,997)
Net cash from financing activities 241,011 (27,251)
NET INCREASE IN CASH AND CASH EQUIVALENTS 3,340 30,158
CASH AND CASH EQUIVALENTS, beginning of period 48,739 26,323
CASH AND CASH EQUIVALENTS, end of period 52,079 56,481
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest on deposits and borrowings 6,746 9,109
Income taxes 1,400 1,210
NONCASH INVESTING ACTIVITIES    
Unrealized gain on securities available for sale 5,980 5,142
Loans transferred to real estate owned and repossessed assets, net of deferred loan fees and allowance for loan losses 495 271
Lease liabilities arising from obtaining right-of-use assets $ 902 $ 0