v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net (loss) income $ (5,375) $ (1,823)
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 653 745
Amortization of core deposit intangible 1 2
Amortization and accretion of premiums and discounts on investments, net 74 299
Accretion of deferred loan fees and purchased premiums, net (745) (720)
Amortization of debt issuance costs 37 39
Change in fair value of sold loan servicing rights 78 86
Additions to servicing rights on sold loans, net (17) (33)
Provision for credit losses on loans 7,474 9,879
Recapture of provision for credit losses on unfunded commitments (49) (170)
Allocation of ESOP shares 262 345
Share-based compensation expense 405 521
Gain on sale of loans, net (55) (202)
Loss on sale of securities available for sale, net 0 2,117
Gain on extinguishment of subordinated debt (848) 0
Increase in BOLI cash surrender value, net (857) (536)
Income from BOLI death benefit, net (1,059) 0
Origination of loans held for sale (11,963) (10,366)
Proceeds from sale of loans held for sale 12,333 10,235
Change in assets and liabilities:    
Increase in accrued interest receivable (146) (1,572)
Decrease (increase) in ROU asset 1,229 (11,580)
Increase in prepaid expenses and other assets (10,609) (795)
Decrease in accrued interest payable (1,781) (253)
(Decrease) increase in lease liabilities (1,278) 11,626
Decrease in accrued expenses and other liabilities (5,535) (4,602)
Net cash (used) provided by operating activities (17,771) 3,242
Cash flows from investing activities:    
Purchase of securities available for sale (5,534) (53,027)
Proceeds from maturities, calls, and principal repayments of securities available for sale 45,518 18,571
Proceeds from sales of securities available for sale 0 21,048
(Purchase) redemption of FHLB stock (471) 578
Early surrender of BOLI policies 9,381 6,140
Purchase of BOLI policies (9,109) (6,140)
Proceeds from BOLI death benefit 528 0
Net decrease (increase) in loans receivable 18,543 (44,405)
Sale of premises and equipment, net of amortization 477 6,590
Capital contributions to equity and partnership investments (455) (6,306)
Redemption of partnership investment 0 6,499
Capital disbursements received from equity and partnership investments 350 0
Capital contributions to low-income housing tax credit partnerships 0 (1,274)
Net cash provided (used) by investing activities 59,228 (51,726)
Cash flows from financing activities:    
Net (decrease) increase in deposits (33,390) 31,396
Proceeds from long-term FHLB advances 30,000 105,000
Repayment of long-term FHLB advances (20,000) (15,000)
Net increase (decrease) in short-term FHLB advances 0 (104,900)
Redemption of subordinated debt, net (4,095) 0
Net increase (decrease) in line of credit 3,000 (3,500)
Net (decrease) increase in advances from borrowers for taxes and insurance (159) 44
Payment of dividends (1,299) (1,337)
Restricted stock awards canceled (99) (166)
Repurchase of common stock 0 (3,043)
Net cash (used) provided by financing activities (26,042) 8,494
Net increase (decrease) in cash and cash equivalents 15,415 (39,990)
Cash and cash equivalents at beginning of period 72,448 123,169
Cash and cash equivalents at end of period 87,863 83,179
Supplemental disclosures of cash flow information:    
Cash paid for interest on deposits and borrowings 27,753 28,027
Cash paid for income taxes 10 3
Supplemental disclosures of noncash investing activities:    
Change in unrealized gain on securities available for sale 3,230 100
Change in unrealized (loss) gain on fair value hedge (791) 1,148
Amortization of unrecognized DB plan prior service cost 75 75
Loan principal transferred from held-for-investment to held-for-sale 1,400 0
Loan principal transferred to real estate owned and repossessed assets, net 1,297 0
Lease liabilities arising from obtaining right-of-use assets 1,264 12,158
Transfer of BOLI receivable to prepaid expenses and other assets due to death benefit accrued but not paid at period end 1,404 0
Transfer of BOLI receivable to prepaid expenses and other assets due to early surrender recorded but not paid at period end 9,114 0
Series A equity investment acquired upon conversion of commercial business loan $ 1,260 $ 0