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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net income $ 511,153 $ 417,091
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 76,630 50,562
Stock based compensation 34,620  
ESOP expense 9,614 14,982
Net amortization of discounts and premiums on debt securities 25,855 33,231
Amortization of deferred loan fees, net (10,182) (384,003)
Net gain on sale of loans (34,295) (121,639)
Net change in deferred taxes 80,049 120,901
Gain on proceeds from life insurance death benefit (173,268)  
Earnings on cash value of life insurance (57,026) (46,728)
Decrease in interest receivable 11,966 49,069
Originations of loans held for sale (871,800) (6,610,936)
Proceeds from loans held for sale 906,095 6,732,575
Net change in other assets (28,388) (20,814)
Net change in other liabilities 995,441 217,193
Net Cash from Operating Activities 1,476,464 451,484
Investing Activities    
Net change in interest-bearing deposits in other financial institutions 1,638,560 63,933
Purchase of debt securities available for sale   (2,000,000)
Proceeds from life insurance death benefit 641,757  
Proceeds from sales, maturities, and repayments of debt securities available for sale 324,406 623,177
Proceeds from maturities and calls of debt securities held to maturity 7,437 57,121
Purchase of bank owned life insurance   (3,000,000)
Net increase in restricted stock (447,273)  
Net change in loans (7,759,425) (3,150,828)
Purchases of property and equipment (61,671) (9,239)
Net Cash (used in) from Investing Activities (5,656,209) (7,415,836)
Financing Activities    
Net change in deposits (347,733) 1,479,845
Proceeds from FHLB advances 14,000,000  
Repayments of PPPLF funding, net   (9,135,234)
Net Cash (used in) from Financing Activities 13,652,267 (7,655,389)
Net Change in Cash and Cash Equivalents 9,472,522 (14,619,741)
Cash and Cash Equivalents, Beginning of Year 8,428,041 46,048,643
Cash and Cash Equivalents, End of Year 17,900,563 31,428,902
Supplemental Disclosure of Cash Flow Information    
Interest 318,141 241,608
Taxes 35,000 $ 20,000
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Lease liabilities arising from using right-of-use assets $ 698,837