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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 1,634 $ 1,487
Adjustments to reconcile net income to cash (used) provided by operating activities:    
Provision for credit losses (1) [1] (8) 296
Depreciation 282 315
Amortization of premiums, net 194 282
Amortization of deferred loan fees (60) (93)
Amortization of mortgage servicing rights 199 225
Capitalized mortgage servicing rights (91) (215)
(Gains) losses recognized on equity securities, net (41) 31
Gains on sale of premises and equipment (1) 0
Gain on sales of loans (295) (868)
Proceeds from sale of loans held for sale 11,300 33,877
Disbursements on loans held for sale (9,718) (23,739)
Amortization of restricted stock awards 54 62
Amortization of unearned Employee Stock Ownership Plan shares 49 48
Earned Employee Stock Ownership Plan shares priced above original cost 58 75
Increase in accrued interest receivable (196) (137)
Increase (decrease) in accrued interest payable 751 (5)
Decrease in other assets 283 720
Decrease in other liabilities (5,399) (1,270)
Other, net 0 1
Net cash (used) provided by operating activities (1,005) 11,098
Cash flows from investing activities:    
Principal collected on securities available for sale 8,976 12,132
Purchases of securities available for sale 0 (25,043)
Purchase of Federal Home Loan Bank stock (1,546) (191)
Redemption of Federal Home Loan Bank stock 1,421 0
Net increase in loans receivable (10,437) (32,276)
Proceeds from sale of premises and equipment 35 4
Purchases of premises and equipment (291) (172)
Net cash used by investing activities (1,842) (45,546)
Cash flows from financing activities:    
Decrease in deposits (23,608) (30,268)
Purchase of treasury stock 0 (743)
Stock awards withheld for tax withholding (64) (53)
Dividends to stockholders (261) (266)
Proceeds from borrowings 37,820 0
Repayment of borrowings (35,520) 0
(Decrease) increase in customer escrows (1,659) 811
Net cash used by financing activities (23,292) (30,519)
Decrease in cash and cash equivalents (26,139) (64,967)
Cash and cash equivalents, beginning of period 36,259 94,143
Cash and cash equivalents, end of period 10,120 29,176
Supplemental cash flow disclosures:    
Cash paid for interest 1,099 288
Supplemental noncash flow disclosures:    
Loans transferred to loans held for sale 555 5,451
Core Deposits [Member]    
Adjustments to reconcile net income to cash (used) provided by operating activities:    
Amortization of core deposit intangible $ 0 $ 6
[1] The Company adopted Accounting Standard Update (ASU) 2016-13 as of January 1, 2023. The 2022 amount presented is calculated under the prior accounting standard.