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Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:        
Net income   $ 6,255,000 $ 1,650,000  
Adjustments to reconcile net income to net cash provided by (used in) operating activities, net of effects of acquisition:        
Depreciation and (accretion) amortization   527,000 (463,000)  
Stock-based compensation expense   295,000 188,000  
Provision for loan losses   975,000 1,400,000 $ 2,000,000
ESOP expense   193,000 71,000  
Net gain on sale of investment securities available-for-sale   0 (20,000)  
Net (gain) loss on sale and writedown of other real estate owned   (127,000) 188,000  
Increase in cash surrender value of bank owned life insurance   (274,000) (299,000)  
Loss on writedown of premises and equipment $ 14,000 888,000 0  
Change in:        
Accrued interest receivable and other assets   3,119,000 (5,989,000)  
Accrued interest payable and other liabilities   1,302,000 2,805,000  
Net cash provided by (used in) operating activities   13,153,000 (469,000)  
Cash flows from investing activities, net of effects of acquisition:        
Purchases of investment securities available-for-sale   (23,674,000) (11,908,000)  
Purchases of premises and equipment   (577,000) (196,000)  
Proceeds from disposal of premises and equipment   0 21,000  
Proceeds from sale of investment securities available-for-sale   0 1,677,000  
Proceeds from paydowns of investment securities available-for-sale   3,102,000 5,639,000  
Purchases of other investments   (1,412,000) (1,358,000)  
Proceeds from sales of other investments   533,000 1,063,000  
Proceeds from bank owned life insurance death claim   300,000 0  
Net change in loans   28,090,000 (116,135,000)  
Proceeds from sales of other real estate owned   1,420,000 129,000  
Net cash paid in business combination   0 (22,749,000)  
Net cash provided by (used in) investing activities   7,782,000 (143,817,000)  
Cash flows from financing activities, net of effects of acquisition:        
Net change in demand and savings deposits   (24,913,000) 138,474,000  
Proceeds from FHLB advances   35,000,000 45,000,000  
Repayment of FHLB advances   (5,000,000) (45,000,000)  
Proceeds from PPPLF borrowings   0 129,909,000  
Repayment of PPPLF borrowings   (100,813,000) 0  
Proceeds from holding company loan   0 5,000,000  
Repayment of holding company loan   (5,000,000) 0  
Net change in repurchase agreements and other borrowings   0 2,357,000  
Proceeds from stock offering   37,108,000 0  
Stock offering expenses   (1,699,000) 0  
Funding of ESOP   (2,961,000) 0  
Net cash (used in) provided by financing activities   (68,278,000) 275,740,000  
Net change in cash and cash equivalents   (47,343,000) 131,454,000  
Cash and cash equivalents at beginning of period   178,253,000 48,117,000 48,117,000
Cash and cash equivalents at end of period 130,910,000 130,910,000 179,571,000 $ 178,253,000
Supplemental disclosures of cash flow information:        
Cash paid for income taxes   2,405,000 1,790,000  
Cash paid for interest   2,552,000 4,138,000  
Vacant land transferred to other real estate owned $ 0 0 460,000  
Fair value of assets acquired   0 317,742,000  
Fair value of liabilities assumed   0 288,732,000  
Net assets acquired   $ 0 $ 29,019,000