Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (39,000) $ (328,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 76,000 75,000
Securities amortization and accretion, net 108,000 121,000
Loans originated for sale (17,976,000) (11,268,000)
Proceeds from sales of loans held for sale 23,669,000 10,080,000
Gain on sale of mortgage loans (475,000) (189,000)
Reversal of provision for credit losses (26,000) (37,000)
Earnings on bank owned life insurance (60,000) (56,000)
ESOP expense 66,000 64,000
Stock based compensation 173,000 157,000
Change in deferred income taxes (79,000) 429,000
Net change in accrued interest receivable and other assets (103,000) (531,000)
Net change in accrued expenses and other liabilities 199,000 (1,193,000)
Net cash provided by (used in) operating activities 5,533,000 (2,676,000)
Cash flows from investing activities:    
Net change in portfolio loans (1,497,000) 161,000
Principal repayments on mortgage-backed securities 1,615,000 1,317,000
Maturities and calls of securities available for sale 0 1,000,000
Net change in time deposits with other financial institutions 249,000 0
Purchases of premises and equipment, net (16,000) (54,000)
Net cash provided by investing activities 351,000 2,424,000
Cash flows from financing activities:    
Net change in deposits 2,401,000 3,528,000
Net change in escrow deposits 1,063,000 697,000
Net cash provided by financing activities 3,464,000 4,225,000
Net change in cash and cash equivalents 9,348,000 3,973,000
Cash and cash equivalents at beginning of period 34,042,000 53,481,000
Cash and cash equivalents at end of period 43,390,000 57,454,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 716,000 916,000
Loans transferred to held for sale from portfolio, net $ 2,518,000 $ 0