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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (3,949) $ (642)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Loan loss provision 176 29
Depreciation 287 121
Net (accretion) amortization of deferred loan origination costs (229) 275
Net amortization of premiums on mortgage-backed securities 643 37
Amortization of investment in affordable housing limited partnership 52 105
Amortization of core deposit intangible 393 0
Amortization of premium on FHLB advances (38) 0
ESOP compensation expense 109 68
Earnings on bank owned life insurance (43) (47)
Valuation allowance on deferred tax asset 369 0
Originations of loans receivable held for sale 0 (118,626)
Proceeds from sales and repayments of loans receivable held for sale 0 105,211
Gain on sale of loans receivable held for sale 0 (276)
Changes in operating assets and liabilities:    
Net change in deferred taxes (1,272) (492)
Net change in accrued interest receivable (533) 21
Net change in other assets 856 114
Net change in accrued expenses and other liabilities 3,330 123
Net cash provided by (used in) operating activities 566 (13,555)
Cash flows from investing activities:    
Cash acquired in business combination 84,745 0
Net change in loans receivable held for investment (62,446) 51,105
Principal payments on available-for-sale securities 19,159 2,537
Purchases of available-for-sale securities (16,523) (2,000)
Purchase of FHLB stock (152) (742)
Redemption of FHLB stock 1,378 227
Additions to office properties and equipment (1,138) (415)
Net cash provided by (used in) investing activities 25,023 50,712
Cash flows from financing activities:    
Net change in deposits 118,700 17,906
Proceeds from FHLB advances 5,000 60,000
Repayments of FHLB advances (32,676) (33,500)
Net change in securities sold under agreements to repurchase (7,985) 0
Repayment of junior subordinated debentures (3,315) (1,020)
Proceeds from issuance of common stock, net of issuance costs 30,837 0
Payment for tax withholding for vesting of restricted stock (514) 0
Cash dividends paid on preferred stock (60) 0
Payment to non-controlling interest (165) 0
Net cash provided by financing activities 109,822 43,386
Net change in cash and cash equivalents 135,411 80,543
Cash and cash equivalents at beginning of the year 96,109 15,566
Cash and cash equivalents at end of the year 231,520 96,109
Supplemental disclosures of cash flow information:    
Cash paid for interest 3,716 5,771
Cash paid for income taxes 711 8
Supplemental disclosures of non-cash investing and financing:    
Transfers of loans receivable held for sale to loans receivable held for investment 0 13,691
Initial recognition of right of use asset 1,119 0
Initial recognition of operating lease liabilities 1,119 0
Assets acquired (liabilities assumed) in acquisition:    
Securities available for sale, at fair value 149,975 0
Loans receivable 225,885 0
Accrued interest receivable 1,637 0
FHLB and FRB stock 1,061 0
Office property and equipment 6,953 0
Goodwill 25,966 0
Core deposit intangible 3,329 0
Other assets 2,290 0
Deposits (353,722) 0
FHLB advances (3,166) 0
Securities sold under agreements to repurchase (59,945) 0
Other borrowings (14,000) 0
Deferred taxes (717) 0
Accrued expenses and other liabilities (4,063) 0
Preferred Stock [Member]    
Assets acquired (liabilities assumed) in acquisition:    
Issuance of stock (3,000) 0
Common Stock [Member]    
Assets acquired (liabilities assumed) in acquisition:    
Issuance of stock (63,257) 0
Employees, Excluding Directors [Member]    
Adjustments to reconcile net loss to net cash provided by operating activities:    
Stock-based compensation expense 370 379
Directors [Member]    
Adjustments to reconcile net loss to net cash provided by operating activities:    
Stock-based compensation expense $ 45 $ 45