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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Net Cash Provided by (Used in) Operating Activities [Abstract]    
Net (loss) income $ (3,034,000) $ 593,000
Adjustments to reconcile net (loss) income to net cash (used in) operating activities:    
Depreciation and amortization of premises and equipment 1,354,000 1,280,000
Change in right-of-use asset 1,400,000 1,294,000
(Accretion) amortization of:    
Deferred loan fees, costs, and discounts, net (312,000) (265,000)
Premiums and discounts on securities 484,000 566,000
Change in deferred taxes 0 52,000
Provision for (release of) credit losses 120,000 (358,000)
Gain on sales and calls of securities 0 (14,000)
Proceeds from sales of loans held for sale 2,346,000 0
Gains on sale of loans, net (159,000) 0
Origination of loans held for sale (4,684,000) 0
Loss on disposal of premises and equipment 13,000 0
Increase in bank owned life insurance cash surrender value (226,000) (230,000)
ESOP and stock-based compensation expense 1,927,000 604,000
Increase in interest and dividends receivable (392,000) (573,000)
Increase (decrease) in other assets 186,000 (4,056,000)
Decrease in other liabilities (3,430,000) (102,000)
Change in lease liability (1,282,000) (1,235,000)
Net cash used in operating activities (5,689,000) (2,444,000)
Cash flows from investing activities    
Net originations of loans receivable (29,519,000) (68,711,000)
Purchases of residential mortgage loans (6,804,000) (71,703,000)
Purchases of securities available-for-sale 0 (80,039,000)
Purchases of securities held-to-maturity 0 (6,600,000)
Proceeds from sales and calls of securities available for sale 0 2,408,000
Principal payments and maturities on securities available-for-sale 13,169,000 23,264,000
Purchases of other investments 0 (150,000)
Purchase of Federal Home Loan Bank stock (42,035,000) (2,130,000)
Redemption of Federal Home Loan Bank stock 37,620,000 1,125,000
Proceeds from bank owned life insurance 582,000 0
Proceeds from disposal of fixed assets 16,000 0
Purchases of premises and equipment (3,077,000) (3,838,000)
Net cash used in investing activities (30,048,000) (206,374,000)
Cash flows from financing activities    
Net (decrease) increase in deposits (21,601,000) 49,634,000
Proceeds from advances from Federal Home Loan Bank 1,497,000,000 268,000,000
Repayments of advances from Federal Home Loan Bank (1,408,000,000) (248,000,000)
Net increase in advances by borrowers for taxes and insurance 560,000 544,000
Purchase of treasury stock (27,645,000) 0
Net cash provided by financing activities 40,314,000 70,178,000
Net increase (decrease) in cash and cash equivalents 4,577,000 (138,640,000)
Cash and cash equivalents at beginning of period 41,182,000 193,446,000
Cash and cash equivalents at end of period 45,759,000 54,806,000
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 15,302,000 3,335,000
Cash paid during the period for income taxes 13,000 120,000
Supplemental noncash disclosures    
Lease liabilities arising from obtaining right-of-use assets $ 2,088,000 $ 0