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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Net Cash Provided by (Used in) Operating Activities [Abstract]    
Net (loss) income $ (7,397) $ 2,396
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization of premises and equipment 2,870 2,662
Change in right-of-use asset 2,822 2,550
(Accretion) amortization of:    
Deferred loan fees, costs, premiums and discounts, net (598) (655)
Premiums and discounts on securities, net 1,044 1,065
Release of provision for credit losses/loan losses (441) (1,001)
Gain on sales and calls of securities, net (20) (14)
Proceeds from sales of loans held for sale 5,479 0
Gain on sale of loans (231) 0
Origination of loans held for sale (5,248) 0
Loss on premises and equipment 13 0
Increase in BOLI cash surrender value (458) (490)
ESOP and stock-based compensation expense 3,774 1,816
Increase in interest and dividends receivable (702) (1,521)
Increase in other assets (7,498) (2,247)
(Decrease) increase in other liabilities (2,892) 590
Change in lease liability (2,635) (2,372)
Net cash (used in) provided by operating activities (12,118) 2,779
Cash flows from investing activities    
Net originations of loans receivable (8,854) (152,847)
Purchases of residential mortgage loans (6,804) (104,040)
Purchases of securities available-for-sale (15,524) (80,039)
Purchases of securities held-to-maturity 0 (10,600)
Proceeds from sales and calls of securities available-for-sale 11,674 4,659
Principal payments and maturities on securities available-for-sale 39,085 47,875
Purchases of other investments 0 150
Purchases of Federal Home Loan Bank stock (57,200) (30,863)
Redemption of Federal Home Loan Bank stock 52,875 25,133
Proceeds from bank owned life insurance 582 0
Proceeds from sale of fixed assets 38 0
Purchases of premises and equipment (5,571) (5,364)
Net cash provided by (used in) investing activities 10,301 (306,236)
Cash flows from financing activities    
Net change in deposits (43,958) 41,822
Proceeds from advances from Federal Home Loan Bank 2,292,000 1,423,000
Repayments of advances from Federal Home Loan Bank (2,205,000) (1,298,000)
Net increase in advances by borrowers for taxes and insurance (373) (280)
Purchase of treasury stock (36,009) (15,349)
Net cash provided by financing activities 6,660 151,193
Net increase (decrease) in cash and cash equivalents 4,843 (152,264)
Cash and cash equivalents at beginning of period 41,182 193,446
Cash and cash equivalents at end of period 46,025 41,182
Cash paid during the period for:    
Interest 36,314 10,714
Income taxes 96 190
Supplemental noncash disclosures    
Transfers of loans to other real estate owned 0 917
Transfers of loans to other real estate owned 593 0
Lease liabilities arising from obtaining right-of-use assets $ 2,088 $ 2,999