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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (3,487) $ (33)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loan loss provision 0 29
Depreciation 53 191
Net amortization of deferred loan origination costs and loan premiums (21) 59
Net amortization of premiums on mortgage-backed securities 10 9
ESOP compensation expense 23 17
Earnings on bank owned life insurance (10) (12)
Originations of loans receivable held for sale 0 (65,986)
Proceeds from sales and repayments of loans receivable held for sale 0 20,512
Gain on sale of loans receivable held for sale 0 (7)
Change in assets and liabilities:    
Net change in deferred taxes (1,413) 7
Net change in accrued interest receivable 45 (126)
Net change in other assets (1,202) (222)
Net change in advance payments by borrowers for taxes and insurance (532) (548)
Net change in accrued expenses and other liabilities 4,263 (184)
Net cash used in operating activities (2,058) (46,169)
Cash flows from investing activities:    
Net change in loans receivable held for investment (2,370) 16,425
Principal payments on available-for-sale securities 507 466
Purchase of FHLB stock 0 (594)
Purchase of office properties and equipment (15) (139)
Net cash (used in) provided by investing activities (1,878) 16,158
Cash flows from financing activities:    
Net change in deposits (3,315) 35,425
Proceeds from FHLB advances 0 55,000
Repayments of FHLB advances 0 (24,000)
Stock cancelled for payment of tax withholdings (447) 0
Repayments of junior subordinated debentures (255) (255)
Net cash (used in) provided by financing activities (4,017) 66,170
Net change in cash and cash equivalents (7,953) 36,159
Cash and cash equivalents at beginning of the period 96,109 15,566
Cash and cash equivalents at end of the period 88,156 51,725
Supplemental disclosures of cash flow information:    
Cash paid for interest 809 1,747
Cash paid for income taxes 39 0
Directors [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 45 45
Employees, Excluding Directors [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense $ 168 $ 80