XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating Activities    
Net Income $ 812,553 $ 701,956
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 101,809 101,895
Stock based compensation 65,347  
ESOP expense 19,152 29,123
Net amortization of discounts and premiums on debt securities 53,001 63,794
Amortization of deferred loan fees, net (24,858) (495,351)
Net gain on sale of loans (56,352) (223,686)
Realized gain on available for sale debt securities (24,000) (14,000)
Net change in deferred taxes 147,625 198,648
Gain on proceeds from life insurance death benefit (173,268)  
Earnings on cash value of life insurance (119,416) (106,630)
(Increase) decrease in interest receivable (41,473) 16,813
Originations of loans held for sale (972,700) (12,385,042)
Proceeds from loans held for sale 1,029,052 12,608,728
Net amortization of operating lease right of use assets 53,021  
Net change in operating lease liabilities (61,493)  
Net change in other assets 2,961 16,002
Net change in other liabilities 151,112 (306,350)
Net Cash from Operating Activities 962,073 205,900
Investing Activities    
Net change in interest-bearing deposits in other financial institutions 1,345,782 (1,456,002)
Purchase of debt securities available for sale   (3,000,000)
Proceeds from life insurance death benefit 641,757  
Proceeds from sales, maturities, and repayments of debt securities available for sale 698,156 1,260,577
Proceeds from maturities and calls of debt securities held to maturity 14,188 93,654
Purchase of bank owned life insurance   (3,000,000)
Net increase in restricted stock (447,273)  
Net increase in loans (6,967,246) (11,660,127)
Purchases of property and equipment (65,364) (9,239)
Net Cash used in Investing Activities (4,780,000) (17,771,137)
Financing Activities    
Net change in deposits 14,923,740 11,436,665
Repayments of PPPLF funding, net   (10,222,591)
Purchase and retirement of treasury stock (76,625)  
Net Cash from Financing Activities 14,847,115 1,214,074
Net Change in Cash and Cash Equivalents 11,029,188 (16,351,163)
Cash and Cash Equivalents, Beginning of Year 8,428,041 46,048,643
Cash and Cash Equivalents, End of Year 19,457,229 29,697,480
Supplemental Disclosure of Cash Flow Information    
Interest 873,113 471,468
Taxes 87,000 $ 46,000
Supplemental Schedule of Noncash Investing and Financing Activities    
Lease liabilities arising from using right-of-use assets $ 698,837