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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash Flows from Operating Activities      
Net income $ 2,053 $ 3,321  
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization and accretion of premiums and discounts on investments, net 79 26  
Provision for (credit to) loan losses 221 (69)  
Loans originated for sale (8,197) (24,437)  
Proceeds from sale of loans 11,350 25,788  
Net gain on sale of loans (400) (1,059)  
Amortization of intangible assets 27 13 $ 96
Depreciation and amortization 380 321  
Gain from disposal of premises and equipment   (17)  
Deferred income tax benefit (42) (109)  
Increase in cash surrender value of insurance (157) (95)  
Decrease (increase) in accrued interest receivable 110 (21)  
Expense of earned ESOP shares 58 52  
Share-based compensation expense 152 153  
Decrease (increase) in other assets 7 (3,665)  
Increase in accrued expenses and other liabilities 1,859 2,421  
Net cash provided by operating activities 7,500 2,623  
Cash Flows from Investing Activities      
Proceeds from sales and calls of securities   2,000  
Proceeds from maturities and principal repayments of securities 16,536 12,390  
Purchases of securities (27,216) (88,424)  
Net redemptions of FHLB Stock 95 644  
Net (increase) decrease in loans (8,197) 4,853  
Purchases of bank premises and equipment (579) (285)  
Net proceeds from life insurance   341  
Net cash received from acquisition (Note 2)   32,767  
Proceeds from sale of other real estate owned   50  
Net cash used in investing activities (19,361) (35,664)  
Cash Flows from Financing Activities      
Net increase in demand deposits, NOW, money market and savings accounts 25,019 53,343  
Net decrease in time deposits (14,398) (8,534)  
Decrease in mortgagors' escrow accounts (1,373) (1,214)  
Net decrease in short-term debt (840) (12,093)  
Net decrease in long-term debt (1,273) (2,113)  
Net cash provided by financing activities 7,135 29,389  
Net decrease in cash and due from banks (4,726) (3,652)  
Cash and Due from Banks      
Beginning balance 72,091 93,485 93,485
Ending balance 67,365 89,833 $ 72,091
Supplemental Disclosures of Cash Flow Information      
Cash paid for interest 872 1,275  
Cash paid (received) for income taxes $ 14 (3)  
Noncash Investing Activities      
Fair value of assets acquired   1,277  
Fair value of liabilities assumed   $ 34,044