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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash Flows from Operating Activities      
Net income $ 798 $ 2,053  
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization and accretion of premiums and discounts on investments, net 72 79  
Provision for credit losses   221  
Provision for credit losses 1,014    
Loans originated for sale (1,510) (8,197)  
Proceeds from sale of loans 1,079 11,350  
Net gain on sale of loans (10) (400)  
Amortization of intangible assets 24 27 $ 99
Depreciation and amortization 358 380  
Gain from disposal of premises and equipment (17)    
Deferred income tax benefit (338) (42)  
Increase in cash surrender value of insurance (160) (157)  
Net decrease in accrued interest receivable 1,256 110  
Expense of earned ESOP shares 49 58  
Share-based compensation expense 150 152  
Net (increase) decrease in other assets (1,227) 7  
Net increase in accrued expenses and other liabilities 1,568 1,859  
Net cash provided by operating activities 3,106 7,500  
Cash Flows from Investing Activities      
Proceeds from maturities and principal repayments of securities 4,226 16,536  
Purchases of securities   (27,216)  
Net (purchases) redemptions of FHLB Stock (2,192) 95  
Net increase in loans (11,601) (8,197)  
Purchases of bank premises and equipment (63) (579)  
Proceeds from disposal of premises and equipment 27    
Net cash used in investing activities (9,603) (19,361)  
Cash Flows from Financing Activities      
Net (decrease) increase in demand deposits, NOW, money market and savings accounts (104,127) 25,019  
Net increase (decrease) in time deposits 67,718 (14,398)  
Decrease in mortgagors' escrow accounts (1,062) (1,373)  
Net increase (decrease) in short-term debt 28,727 (840)  
Net increase (decrease) in long-term debt 20,000 (1,273)  
Net cash provided by financing activities 11,256 7,135  
Net increase (decrease) in cash and cash equivalents 4,759 (4,726)  
Cash and Cash Equivalents      
Beginning balance 31,384 72,091 72,091
Ending balance 36,143 67,365 $ 31,384
Supplemental Disclosures of Cash Flow Information      
Interest 4,465 872  
Income taxes $ 106 $ 14