XML 19 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income $ 939 $ 1,041
Adjustments to reconcile net income to cash (used for) provided by operating activities:    
(Credit) Provision for loan losses (51) (15)
Depreciation 71 53
Investment securities gains (74) (93)
Net impairment loss recognized in earnings 0 13
Amortization of discounts, premiums and deferred loan fees, net 941 208
Amortization of unallocated ESOP shares 123 119
Deferred income taxes 177 26
Increase (decrease) in accrued income taxes 41 (280)
Earnings on bank owned life insurance (84) (85)
Increase in accrued employee benefits 150 770
Increase in accrued interest receivable (238) (18)
Decrease in accrued interest payable (41) (326)
Increase in deferred director compensation payable 40 40
Other, net (169) (782)
Net cash provided by operating activities 1,825 671
INVESTING ACTIVITIES    
Purchases of investment securities (38,698) (70,843)
Proceeds from sale of investments 9,060 8,082
Proceeds from repayments of investment securities 43,570 60,797
Purchase of mortgage-backed securities (79,236) (13,163)
Proceeds from Sale and Maturity of Held-to-Maturity Securities, Total 5,540 750
Proceeds from repayments of mortgage-backed securities 32,314 51,835
Purchases of certificates of deposit (100) (100)
Maturities/redemptions of certificates of deposit 100 1,590
Purchase of loans (3,722) (7,950)
Net decrease in net loans receivable 8,221 12,792
Purchase of FHLB stock (12,680) (12,058)
Redemption of FHLB stock 11,931 13,773
Acquisition of premises and equipment (4) (132)
Net cash (used for) provided by investing activities (23,704) 45,373
FINANCING ACTIVITIES    
Net increase in transaction and savings accounts 4,858 7,735
Net increase (decrease) in certificates of deposit 241 (3,280)
Net decrease in advance payments by borrowers for taxes and insurance (590) (576)
Repayments of Federal Home Loan Bank long-term advances (30,000) (65,000)
Net increase in FHLB short-term advances 48,730 22,934
Repayments of other short-term borrowings 0 (5,800)
Purchase of treasury stock (66) (52)
Cash dividends paid (522) (525)
Net cash provided by (used for) financing activities 22,651 (44,564)
Increase in cash and cash equivalents 772 1,480
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 2,551 2,500
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 3,323 3,980
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest on deposits and borrowings 525 1,049
Income taxes $ 95 $ 653