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Consolidated Statements of Cash flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (822) $ (869)
Adjustments to reconcile net loss to net cash from operating activities    
Net amortization of investment securities 75 37
Depreciation 236 252
Provision for credit losses 150 150
Net gain on insurance proceeds from premises and equipment (28)  
Net change in fair value of marketable equity securities (478) (444)
Stock compensation expense 334 337
Benefit from deferred income tax (259) (424)
Originations of mortgage loans held for sale (9,458) (4,043)
Proceeds from sales of mortgage loans held for sale 8,783 4,236
Net gain on sale of mortgage loans held for sale (207) (68)
ESOP compensation 73 77
Net change in cash value of life insurance (222) (217)
Changes in operating assets and liabilities:    
Net change in mortgage servicing rights 56 83
Accrued interest receivable and other assets (289) (135)
Accrued interest payable and other liabilities 862 192
Net cash used in operating activities (1,194) (836)
Cash flows from investing activities    
Maturities, prepayments, and calls of available-for-sale securities 7,619 7,212
Purchases of available-for-sale securities (2,004)  
Purchase of marketable equity securities (30) (54)
Net increase in loans (3,992) (21,371)
Net increase in FHLB stock, net (400) (1,441)
Proceeds from insurance claim from premises and equipment 23  
Proceeds from cash value life insurance death benefits   720
Distribution of marketable equity securities   12
Net capital expenditures for premises and equipment (131) (108)
Net cash provided by (used in) investing activities 1,085 (15,030)
Cash flows from financing activities    
Net decrease in deposits (4,832) (16,531)
Net increase in advance payments by borrowers for taxes and insurance 5,877 7,112
Proceeds from the issuance of Federal Home Loan Bank advances 50,000 99,500
Principal payments on Federal Home Loan Bank advances (46,487) (79,476)
Repurchase and cancellation of common stock (855) (232)
Retirement of common stock (25) (56)
Net cash provided by financing activities 3,678 10,317
Net increase (decrease) in cash and cash equivalents 3,569 (5,549)
Cash and cash equivalents at beginning of period 13,250 28,344
Cash and cash equivalents at end of period 16,819 22,795
Supplemental cash flow information:    
Cash paid during the year for interest 5,726 $ 3,022
Noncash activities    
Receivable for insurance claim proceeds from premises and equipment $ 15