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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 392 $ 908
Adjustments to reconcile net income to net cash provided by operating activities:    
ESOP expense 31 28
Stock based compensation 99  
Depreciation and amortization 136 141
Net amortization of bond premium 237 140
Provision for loan losses 60 60
Gain on sale of loans (2) (40)
Securities gains, net (52) (203)
Proceeds from loans sold 497 1,325
Origination of loans sold (495) (1,285)
Increase in bank-owned life insurance (20) (20)
Increase in deferred fees on loans (164) (231)
Deferred tax expense 27 123
(Increase) decrease in accrued interest receivable (69) 61
Increase in other assets (608) (328)
Decrease in deferred compensation liability (79) (86)
Increase in other liabilities 151 1,009
Net cash provided by operating activities 141 1,602
Cash flows from investing activities:    
Proceeds from sales, maturities and principal payments received on securities available-for-sale 1,796 9,746
Purchase of securities available-for-sale (16,045) (8,822)
Purchase of property and equipment (51) (11)
Loan purchases (1,630) (2,444)
Loan originations and principal collections, net (1,388) (3,981)
Net loan (charge offs) recoveries (8) 2
Net purchase of Federal Home Loan Bank stock (722) (72)
Net cash used by investing activities (18,048) (5,582)
Cash flows from financing activities:    
Net (decrease) increase in NOW, demand deposits, money market and savings accounts (2,887) 21,949
Net (decrease) increase in time deposits (1,587) 12,169
Increase in mortgagors’ escrow accounts 1,246 625
Treasury stock purchases (248) (233)
Net cash provided by financing activities 16,762 20,658
Net change in cash and cash equivalents (1,145) 16,678
Cash and cash equivalents at beginning of period 6,638 5,996
Cash and cash equivalents at end of period 5,493 22,674
Cash activities:    
Cash paid for interest 174 279
Cash paid for income taxes   3
Effect of change in fair value of securities available-for-sale:    
Securities available-for-sale (6,939) (993)
Deferred taxes 1,879 269
Total unrealized loss on securities available-for-sale (5,060) (724)
Effect of change in fair value of interest rate swaps:    
Interest rate swaps 435 241
Deferred taxes (118) (65)
Other comprehensive income 317 176
ASU 2016-02 | Cumulative Effect, Period of Adoption, Adjustment    
Effect of the adoption of ASU 2016-02:    
Other assets 65  
Other liabilities 65  
Federal Home Loan Bank Advances [Member]    
Cash flows from financing activities:    
Proceeds from short-term FHLB advances 92,813 5,000
Payments on short-term FHLB advances (70,313) (10,095)
Payments on long-term FHLB advances $ (2,262)  
FRB [Member]    
Cash flows from financing activities:    
Payments on short-term FHLB advances   $ (8,757)