Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

v3.21.4
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (losses) $ 2 $ (199)
Adjustments to reconcile net income (losses) to net cash provided by operating activities:    
Depreciation 202 219
Securities amortization and accretion, net 972 580
Loans originated for sale (14,078) (25,212)
Proceeds from sales of loans held for sale 15,393 20,631
Gain on sale of mortgage loans (316) (392)
Gain on sale of investments (131) (59)
Gain on transfer to OREO (15)  
Provision for loan losses 5 310
Earnings on bank owned life insurance (134) (136)
Increase in accrued interest receivable and other assets (925) (106)
Net increase (decrease) in accrued expenses and other liabilities (698) 359
Net cash provided by (used in) operating activities 277 (4,005)
Cash flows from investing activities:    
Net decrease (increase) in portfolio loans 2,112 (1,561)
Principal repayments on mortgage-backed securities 12,937 9,399
Purchases of securities available for sale (39,056) (25,282)
Maturities and calls of securities available for sale 2,045 1,465
Sale of securities available for sale 6,769 12,112
Sale of OREO 68  
Purchase of Federal Home Loan Bank stock (38)  
Decrease in time deposits with other financial institutions, net 6,735 5,975
Purchases of premises and equipment, net (120) (45)
Net cash (used in) provided by investing activities (8,548) 2,063
Cash flows from financing activities:    
Net change in deposits 18,712 (1,341)
Net change in escrow deposits (574) (742)
Repayment of FHLB Advance (4,000)  
Proceeds from FHLB Advance 5,000 4,000
Net cash provided by financing activities 19,138 1,917
Net change in cash and cash equivalents 10,867 (25)
Cash and cash equivalents at beginning of period 31,868 32,379
Cash and cash equivalents at end of period 42,737 32,354
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 732 $ 1,222
Noncash activity:    
Loans transferred to OREO $ 187