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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income before noncontrolling interest $ 14,979 $ 10,340
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,432 1,375
Amortization of core deposit intangible 5 0
Amortization and accretion of premiums and discounts on investments, net 1,753 1,551
Accretion (amortization) of deferred loan fees, net 1,260 (1,113)
Amortization of debt issuance costs 57 0
Amortization of servicing rights on sold loans 108 278
Additions to servicing rights on sold loans (1,233) (1,564)
Net (decrease) increase on the valuation allowance on servicing rights on sold loans (37) 37
PROVISION FOR LOAN LOSSES 1,350 5,046
Deferred federal income taxes, net 63 (1,131)
Allocation of ESOP shares 675 475
Share-based compensation 2,294 1,295
Gain on sale of loans, net (5,278) (6,433)
Gain on sale of securities available for sale, net (2,410) (3,147)
Increase in cash surrender value of life insurance, net (965) (1,826)
Origination of loans held for sale (137,715) (187,959)
Proceeds from loans held for sale 145,986 191,142
Change in assets and liabilities:    
Decrease (increase) in accrued interest receivable 1,677 (3,035)
(Increase) decrease in prepaid expenses and other assets (15,404) 781
Increase (decrease) in accrued interest payable 340 (319)
Increase in accrued expenses and other liabilities 6,218 7,463
Net cash from operating activities 15,155 13,256
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of securities available for sale (152,930) (305,713)
Proceeds from maturities, calls, and principal repayments of securities available for sale 59,663 57,166
Proceeds from sales of securities available for sale 109,829 210,264
Redemption of FHLB stock 781 57
Purchase of bank-owned life insurance policy 0 (6,500)
Net increase in loans receivable (210,901) (267,994)
Purchase of premises and equipment, net (6,019) (1,818)
Capital contributions to equity investments (584) (1,416)
Capital contributions to low-income housing tax credit partnerships (248) 0
Net cash acquired from branch acquisition 63,545 0
Net cash from investing activities (136,864) (315,954)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 182,196 331,872
Proceeds from long-term FHLB advances 40,000 30,000
Repayment of long-term FHLB advances (10,000) (30,000)
Net decrease in short-term FHLB advances (59,977) (2,953)
Proceeds from issuance of subordinated debt, net 39,223 0
Net decrease in advances from borrowers for taxes and insurance (8) (29)
Net share settlement of stock awards (352) (178)
Repurchase of common stock (5,979) (7,413)
Payment of dividends (2,533) (2,185)
Net cash from financing activities 182,570 319,114
NET INCREASE IN CASH AND CASH EQUIVALENTS 60,861 16,416
CASH AND CASH EQUIVALENTS, beginning of period 65,155 48,739
CASH AND CASH EQUIVALENTS, end of period 126,016 65,155
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest on deposits and borrowings 4,550 8,043
Income taxes 4,270 2,900
Prior unrecognized service cost of defined benefit plan transferred to single-employer plan 2,718 0
NONCASH INVESTING ACTIVITIES    
Unrealized (loss) gain on securities available for sale (4,181) 8,837
Loans transferred to real estate owned and repossessed assets, net of deferred loan fees and allowance for loan losses 0 529
Investment in low-income housing tax credit partnership and related funding commitment 4,949 0
Lease liabilities arising from obtaining right-of-use assets 4,402 1,047
BUSINESS COMBINATION (See Note 17)    
Fair value of assets acquired 1,340 0
Fair value of liabilities assumed $ 65,947 $ 0