v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (259) $ (1,148)
Adjustments to reconcile net loss to net cash provided by operating activities:    
ESOP expense 107 84
Stock based compensation 426 469
Depreciation and amortization 167 160
Net amortization of bond premium 176 290
(Release) provision for credit losses (14) 47
Gain on sale of loans   (9)
Proceeds from loans sold   778
Origination of loans sold   (769)
Increase in bank-owned life insurance (43) (43)
Decrease (increase) in deferred costs on loans 101 (70)
Deferred tax benefit (5) (64)
Decrease (increase) in accrued interest receivable 39 (51)
(Increase) decrease in other assets (1,274) 149
Increase in deferred compensation liability 166 170
Increase in other liabilities 758 429
Net cash provided by operating activities 345 422
Cash flows from investing activities:    
Proceeds from principal payments received on securities available-for-sale 18,403 7,609
Purchase of securities available-for-sale   (31,706)
Purchase of property and equipment (346) (34)
Loan purchases (297) (3,318)
Loan originations and principal collections, net (2,079) 2,961
Net redemption (purchases) of Federal Home Loan Bank stock 380 (179)
Net cash provided (used) by investing activities 16,061 (24,667)
Cash flows from financing activities:    
Net increase (decrease) in NOW, demand deposits, money market and savings accounts 6,615 (8,653)
Net (decrease) increase in time deposits (23,188) 26,709
Decrease in mortgagors' escrow accounts (237) (20)
Principal payments on finance lease (31) (28)
Treasury stock purchases (20) (836)
Net cash (used) provided by financing activities (24,324) 23,857
Net change in cash and cash equivalents (7,918) (388)
Cash and cash equivalents at beginning of period 13,414 7,100
Cash and cash equivalents at end of period 5,496 6,712
Cash activities:    
Cash paid for interest 5,882 6,529
Cash paid for income taxes 65 35
Effect of change in fair value of securities available-for-sale:    
Securities available-for-sale (40) 258
Deferred taxes 10 (69)
Other comprehensive (loss) income (30) 189
Cumulative fair value hedging adjustment - loans 114 103
Cumulative fair value hedging adjustment - securities available-for-sale (3)  
Effect of change in fair value of interest rate swaps:    
Interest rate swaps 39 (12)
Deferred taxes (10) 3
Other comprehensive income (loss) 29 (9)
Federal Home Loan Bank Advances [Member]    
Cash flows from financing activities:    
Net proceeds from short-term FHLB advances 17,060 7,205
Proceeds from long-term FHLB advances 476  
Payments on long-term FHLB advances $ (25,000) $ (520)