v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (10,025) $ (11,911)
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization of premises and equipment 2,952 3,126
Change in right-of-use asset 2,928 2,875
(Accretion) amortization of:    
Deferred loan fees, costs, premiums and discounts, net 149 (168)
Premiums and discounts on securities, net (622) 725
Provision for (release of) credit losses 2,123 (1,350)
Proceeds from sales of loans held for sale 0 486
Gains on sale of loans, net 0 (36)
Origination of loans held for sale 0 (450)
Loss on premises and equipment 0 3
Net gain on sale of real estate owned 0 (123)
Increase in BOLI cash surrender value (494) (485)
ESOP and stock-based compensation expense 3,992 4,057
Increase in interest and dividends receivable (1,275) (419)
(Increase) decrease in other assets (2,313) 10,648
(Decrease) increase in other liabilities (2,532) 867
Change in lease liability (2,899) (2,782)
Net cash (used in) provided by operating activities (8,016) 5,063
Cash flows from investing activities    
Net payments of loans 76,997 6,910
Purchases of mortgage and consumer loans (184,246) (29,539)
Proceeds from sale of real estate owned 0 716
Purchases of securities available-for-sale (133,260) (89,108)
Proceeds from sales and calls of securities available-for-sale 110,720 0
Principal payments and maturities on securities available-for-sale 29,724 78,632
Principal payments and maturities on securities held to maturity 5,825 0
Purchases of other investments (225) (150)
Purchases of Federal Home Loan Bank stock (80,786) (47,120)
Redemption of Federal Home Loan Bank stock 82,508 49,793
Purchases of premises and equipment (296) (140)
Net cash used in investing activities (93,039) (30,006)
Cash flows from financing activities    
Net change in deposits 166,555 98,416
Proceeds from advances from Federal Home Loan Bank 1,787,000 1,006,000
Repayments of advances from Federal Home Loan Bank (1,825,500) (1,064,000)
Net (increase) decrease in advances by borrowers for taxes and insurance (112) 427
Purchase of treasury stock (16,270) (19,423)
Proceeds from options exercised 21 0
Net cash provided by financing activities 111,694 21,420
Net increase (decrease) in cash and cash equivalents 10,639 (3,523)
Cash and cash equivalents at beginning of period 42,502 46,025
Cash and cash equivalents at end of period 53,141 42,502
Cash paid during the period for:    
Interest 47,118 48,042
Income taxes 116 136
Supplemental noncash disclosures    
Lease liabilities arising from obtaining right-of-use assets $ 1,163 $ 1,173