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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Operating Activities          
Net income     $ 792 $ 722  
Items not requiring (providing) cash          
Depreciation $ 37 $ 38 118 112  
Provision for credit losses 113 71 146 83  
Amortization of premiums and discounts on debt securities     145 352  
Deferred income taxes     (71) (51)  
Change in fair value of equity securities     (38) (12)  
Net realized gain on loan sales     (5) (6)  
Loss on disposal of premises and equipment     4 4  
Earnings on cash surrender value of life insurance     (75) (69)  
ESOP compensation expense 14   39   $ 49
Interest receivable     (47) 81  
Other assets and income tax receivable     122 (1,377)  
Interest payable and other liabilities     252 480  
Net cash provided by operating activities     1,382 319  
Investing Activities          
Purchases of available-for-sale debt securities     (10,819)    
Proceeds from maturities of available-for-sale debt securities     5,418 5,378  
Purchase of held-to-maturity debt securities       (6,850)  
Proceeds from maturities of held-to-maturity debt securities     515 535  
Net change in loans     (4,543) (3,798)  
Purchase of premises and equipment     (151) (32)  
Net cash (used in) provided by investing activities     (9,580) (4,767)  
Financing Activities          
Net increase (decrease) in demand deposits, money market, NOW and savings accounts     (3,448) 15,028  
Net increase in certificates of deposit     5,894 12,545  
Net cash provided by (used in) financing activities     2,446 27,573  
Increase (Decrease) in Cash and Cash Equivalents     (5,752) 23,125  
Cash and Cash Equivalents, Beginning of Year     20,202 12,651 12,651
Cash and Cash Equivalents, End of Year $ 14,450 $ 35,776 14,450 35,776 $ 20,202
Supplemental Cash Flows Information          
Interest paid     2,170 1,295  
Income taxes paid (refunded)     $ 254 $ (24)