v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (521,000) $ (743,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 227,000 219,000
Securities amortization and accretion, net 359,000 393,000
Loans originated for sale (55,438,000) (33,617,000)
Proceeds from sales of loans held for sale 58,389,000 34,042,000
Gain on sale of mortgage loans (1,089,000) (695,000)
(Reversal of) provision for credit losses (30,000) 142,000
Earnings on bank owned life insurance (173,000) (162,000)
ESOP expense 191,000 154,000
Stock based compensation 504,000 486,000
Change in deferred income taxes 949,000 556,000
Net change in accrued interest receivable and other assets (810,000) (873,000)
Net change in accrued expenses and other liabilities (1,717,000) 172,000
Net cash provided by operating activities 841,000 74,000
Cash flows from investing activities:    
Net change in portfolio loans (5,285,000) (15,753,000)
Principal repayments on mortgage-backed securities 4,431,000 4,154,000
Purchases of securities available for sale (10,850,000) 0
Maturities and calls of securities available for sale 1,080,000 4,300,000
Purchase of Federal Home Loan Bank stock (20,000) (35,000)
Net change in time deposits with other financial institutions 249,000 497,000
Purchases of premises and equipment, net (96,000) (184,000)
Net cash used in investing activities (10,491,000) (7,021,000)
Cash flows from financing activities:    
Net change in deposits (4,089,000) 11,061,000
Net change in escrow deposits (499,000) (508,000)
Repayment of FHLB Advance (5,000,000) 0
Purchase of treasury shares (None and 51,845 shares for the nine months ended September 30, 2025 and 2024, respectively) 0 (508,000)
Purchase of treasury stock from taxes withheld on stock awards (108,000) (109,000)
Proceeds from exercise of stock options 0 215,000
Net cash (used in) provided by financing activities (9,696,000) 10,151,000
Net change in cash and cash equivalents (19,346,000) 3,204,000
Cash and cash equivalents at beginning of period 53,481,000 31,388,000
Cash and cash equivalents at end of period 34,135,000 34,592,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 2,752,000 2,320,000
Loans transferred to held for sale from portfolio, net $ 2,744,000 $ 2,470,000

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