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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 4,112,000 $ (818,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Provision (credit) for loan losses (213,000) 724,000
Loans originated for sale (487,808,000) (219,471,000)
Net gain on sales of mortgage loans (10,993,000) (5,825,000)
Proceeds from sales of mortgage loans 515,419,000 229,579,000
Net amortization of securities 95,000 54,000
Net change in deferred loan costs and fees, and purchase premiums 339,000 3,000
Depreciation and amortization 182,000 218,000
Stock-based compensation 283,000 931,000
ESOP expense 94,000 68,000
Increase in cash surrender value of life insurance (40,000) (45,000)
Net (increase) decrease in mortgage servicing rights (2,366,000) 1,068,000
Other, net 9,293,000 (2,908,000)
Net cash provided by operating activities 28,397,000 3,578,000
Securities available for sale:    
Purchases (3,913,000)  
Calls/maturities   1,000,000
Principal payments on mortgage-backed securities 4,119,000 2,548,000
Loan originations, net of principal repayments (2,900,000) (6,435,000)
Loan purchases   (1,519,000)
Purchases of Federal Home Loan Bank of Boston stock   (456,000)
Purchases of premises and equipment (110,000) (137,000)
Net cash used in investing activities (2,804,000) (4,999,000)
Cash flows from financing activities:    
Net increase in non-brokered deposits 31,455,000 12,884,000
Net increase (decrease) in brokered deposits 496,000 (4,907,000)
Net decrease in Federal Reserve Bank borrowings (11,431,000)  
Net decrease in short-term Federal Home Loan Bank of Boston borrowings   (19,822,000)
Issuance of long-term Federal Home Loan Bank of Boston advances   27,432,000
Repayments of long-term Federal Home Loan Bank of Boston advances (1,871,000)  
Net increase (decrease) in mortgagors' escrow accounts (414,000) 22,000
Repurchases of common stock (2,652,000) (1,195,000)
Net cash provided by financing activities 15,583,000 14,414,000
Net change in cash and cash equivalents 41,176,000 12,993,000
Cash and cash equivalents at beginning of period 13,774,000 8,252,000
Cash and cash equivalents at end of period 54,950,000 21,245,000
Supplemental cash flow information:    
Interest paid on deposits and borrowed funds 794,000 1,728,000
Income taxes paid 655,000 225,000
Non-cash item:    
Transfer of held for sale loans to portfolio 5,565,000  
Transfer of portfolio loan to foreclosed real estate   $ 132,000
Initial recognition of operating lease at commencement $ 1,310,000