XML 17 R8.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net income $ 11,417,000 $ 7,614,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,383,000 1,359,000
Provision for loan losses (280,000) 250,000
Net amortization on securities 333,000 662,000
ESOP compensation 261,000 312,000
Earnings (loss) on bank-owned life insurance (406,000) 5,000
Net gain on the sale or disposal of premises and equipment and other real estate owned   (62,000)
Proceeds from sale of loans 100,000 108,000
Net gain on sale of loans   (3,000)
Net gain on equity securities (228,000) (118,000)
Net gain on securities transactions   (4,000)
Deferred tax expense 765,000 1,002,000
Increase in accrued interest receivable (2,897,000) (63,000)
Decrease in other assets 403,000 1,663,000
Decrease in other liabilities (550,000) (6,933,000)
Net cash provided by operating activities 10,301,000 5,792,000
Cash flows from investing activities:    
Proceeds from maturities, paydowns and calls of securities available for sale 68,787,000 38,999,000
Proceeds from sales of securities available for sale 0 5,267,000
Purchases of securities available for sale (101,137,000) (148,313,000)
Proceeds from maturities and paydowns of securities held to maturity 5,694,000 2,396,000
Purchases of securities held to maturity (6,038,000) (13,327,000)
Proceeds from sales of equity securities 0 803,000
Net redemptions of FHLBNY stock 40,000 136,000
Net (increase) decrease in loans receivable (65,365,000) 87,219,000
Purchases of premises and equipment (78,000) (520,000)
Proceeds from bank-owned life insurance death benefit 1,143,000  
Proceeds from sale of premises and equipment, and other real estate owned   266,000
Cash paid for acquisitions   (1,492,000)
Net cash used in investing activities (96,954,000) (28,566,000)
Cash flows from financing activities:    
Net (decrease) increase in deposits (141,901,000) 48,019,000
Net decrease in mortgagors' escrow deposits (188,000) (1,066,000)
Net cash (used in) provided by financing activities (142,089,000) 46,953,000
Net (decrease) increase in cash and cash equivalents (228,742,000) 24,179,000
Cash and cash equivalents at beginning of period 376,060,000 324,963,000
Cash and cash equivalents at end of period 147,318,000 349,142,000
Cash paid during the period for:    
Interest 1,349,000 743,000
Income taxes 2,050,000 1,000,000
Non-cash investing and financing activity:    
Loans transferred to other real estate owned   550,000
Acquisition contingent consideration payable   $ 728,000
Adoption of lease accounting standard:    
Right of use assets 6,535,000  
Lease liabilities $ 6,883,000