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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities    
Net income $ 4,395 $ 6,997
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and accretion of premiums and discounts on investments, net 281 230
Net realized loss on sales and calls of securities   170
Provision for credit losses   1,414
Provision for credit losses 1,702  
Loans originated for sale (5,420) (20,090)
Proceeds from sale of loans 4,877 24,656
Net gain on sale of loans (118) (864)
Amortization of intangible assets 88 99
Depreciation and amortization 1,404 1,555
Write-down on branch held for sale 375  
Net (gain) loss from disposal of premises and equipment (46) 38
Deferred income tax (benefit) expense (352) 14
Increase in cash surrender value of insurance (665) (640)
Gain on life insurance (221)  
Net increase in accrued interest receivable (361) (889)
Expense of earned ESOP shares 162 216
Share-based compensation expense 396 615
Net increase in other assets (1,398) (3,034)
Net increase in accrued expenses and other liabilities 1,949 4,308
Net cash provided by operating activities 7,048 14,795
Cash Flows from Investing Activities    
Proceeds from sales and calls of securities   14,816
Proceeds from maturities and principal repayments of securities 34,069 39,407
Purchases of securities   (30,224)
Net purchases of FHLB Stock (3,256) (1,936)
Net increase in loans (16,157) (144,517)
Purchases of bank owned life insurance (23) (23)
Purchases of bank premises and equipment (578) (1,132)
Net proceeds from life insurance 672  
Net increase of other real estate owned (25)  
Net cash provided by (used in) investing activities 14,702 (123,609)
Cash Flows from Financing Activities    
Net decrease in demand deposits, NOW, money market and savings accounts (201,094) (31,549)
Net increase in time deposits 101,664 59,483
Net (decrease) increase in mortgagors' escrow accounts (458) 602
Net increase in short-term debt 28,727 34,505
Net increase in long-term debt 41,614 5,177
Stock repurchase (1,458) (111)
Net cash (used in) provided by financing activities (31,005) 68,107
Net decrease in cash and cash equivalents (9,255) (40,707)
Cash and Cash Equivalents    
Beginning balance 31,384 72,091
Ending balance 22,129 31,384
Supplemental Disclosures of Cash Flow Information    
Interest 21,976 6,070
Income taxes $ 1,501 $ 1,898