v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income $ 2,824,000 $ (3,308,000) $ 4,994,000 $ 1,673,000  
Adjustments to reconcile net income to net cash provided by operating activities:          
Amortization of securities premiums, net of accretion     49,000 65,000  
ESOP expense 255,000 208,000 518,000 433,000  
Change in deferred loan fees, net     (563,000) (578,000)  
(Benefit) provision for credit losses (378,000) 6,458,000 (390,000) 877,000  
Depreciation and amortization     428,000 558,000  
Decrease (increase) in accrued interest receivable     419,000 (306,000)  
Deferred tax expense     1,156,000 40,000  
Share-based compensation expense     730,000 523,000  
Bank-owned life insurance income (335,000) (319,000) (662,000) (621,000)  
Principal repayments of operating lease obligations     (59,000) (53,000)  
Net (increase) decrease in other assets     (533,000) 3,391,000  
Net increase (decrease) in other liabilities     476,000 (2,206,000)  
Net cash provided by operating activities     6,563,000 3,796,000  
Cash flows from investing activities:          
Proceeds from pay downs, maturities and calls of debt securities available-for-sale     1,177,000 996,000  
Redemption (purchase) of Federal Home Loan Bank stock     455,000 (1,065,000)  
Loan principal collections, net of (loan originations)     12,916,000 (28,544,000)  
Additions to premises and equipment     (289,000) (209,000)  
Net cash provided by (used in) investing activities     14,259,000 (28,822,000)  
Cash flows from financing activities:          
Net (decrease) increase in noninterest-bearing accounts     (63,601,000) 3,045,000  
Net increase (decrease) in interest-bearing accounts     12,619,000 (69,612,000)  
Net cash dividends forfeited on common stock     0 5,000  
Payments from exercise of stock options, net     0 (18,000)  
Net change in short-term borrowings     (10,000,000) 43,000,000  
Repayments on long-term borrowings     (68,000) (67,000)  
Shares surrendered related to tax withholdings on restricted stock awards     (5,000) (42,000)  
Net cash used in financing activities     (61,055,000) (23,689,000)  
Net decrease in cash and cash equivalents     (40,233,000) (48,715,000)  
Cash and cash equivalents at beginning of period     169,142,000 220,332,000 $ 220,332,000
Cash and cash equivalents at end of period $ 128,909,000 $ 171,617,000 128,909,000 171,617,000 $ 169,142,000
Supplemental disclosures:          
Interest paid     15,477,000 19,458,000  
Income taxes paid     232,000 244,000  
Recognition of operating lease liabilities     2,136,000 0  
Receivable for sale of main office branch included in other assets     $ 3,000,000 $ 0