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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash Flows from Operating Activities          
Net income     $ 2,229 $ 4,082  
Adjustments to reconcile net income to net cash provided by operating activities:          
Amortization and accretion of premiums and discounts on investments, net     145 130  
Net realized loss on sales and calls of securities       162  
Provision for credit losses   $ 346   567  
Provision for credit losses $ (452)   562    
Loans originated for sale     (2,805) (16,425)  
Proceeds from sale of loans     2,688 18,835  
Net gain on sale of loans     (62) (693)  
Amortization of intangible assets 21 24 45 51 $ 99
Depreciation and amortization     695 775  
Gain from disposal of premises and equipment (19)   (36)    
Deferred income tax benefit     (276) (57)  
Increase in cash surrender value of insurance     (324) (318)  
Net decrease in accrued interest receivable     1,235 68  
Expense of earned ESOP shares     88 111  
Share-based compensation expense     300 305  
Net increase in other assets     (1,336) (1,145)  
Net increase in accrued expenses and other liabilities     1,281 3,773  
Net cash provided by operating activities     4,429 10,221  
Cash Flows from Investing Activities          
Proceeds from sales and calls of securities       14,825  
Proceeds from maturities and principal repayments of securities     15,624 27,922  
Purchases of securities       (29,225)  
Net purchases of FHLB Stock     (2,284) (409)  
Net decrease (increase) in loans     6,327 (74,505)  
Purchases of bank premises and equipment     (204) (659)  
Proceeds from disposal of premises and equipment     70    
Net cash provided by (used in) investing activities     19,533 (62,051)  
Cash Flows from Financing Activities          
Net (decrease) increase in demand deposits, NOW, money market and savings accounts     (126,244) 34,367  
Net increase (decrease) in time deposits     73,767 (23,937)  
Increase in mortgagors' escrow accounts     3,732 3,466  
Net increase in short-term debt     8,727 7,038  
Net increase (decrease) in long-term debt     40,000 (1,273)  
Stock repurchase     (1,380)    
Net cash (used in) provided by financing activities     (1,398) 19,661  
Net increase (decrease) in cash and cash equivalents     22,564 (32,169)  
Cash and Cash Equivalents          
Beginning balance     31,384 72,091 72,091
Ending balance $ 53,948 $ 39,922 53,948 39,922 $ 31,384
Supplemental Disclosures of Cash Flow Information          
Interest     9,958 1,740  
Income taxes     $ 721 $ 957