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Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:        
Net income (loss)   $ 4,450,000 $ (219,000)  
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities, net of effects of acquisition:        
Depreciation and (accretion) amortization   354,000 (98,000)  
Stock-based compensation expense   185,000 78,000  
Provision for loan losses   750,000 800,000 $ 2,000,000
ESOP expense   122,000 51,000  
Net gain on sale of investment securities available-for-sale $ (20,000) 0 (20,000)  
Net (gain) loss on sale of other real estate owned   (127,000) 29,000  
Increase in cash surrender value of bank owned life insurance   (181,000) (198,000)  
Loss on writedown of premises and equipment   873,000 0  
Change in:        
Accrued interest receivable and other assets   2,568,000 (3,793,000)  
Accrued interest payable and other liabilities   3,488,000 536,000  
Net cash provided by (used in) operating activities   12,482,000 (2,834,000)  
Cash flows from investing activities, net of effects of acquisition:        
Purchases of investment securities available-for-sale   (15,365,000) (4,025,000)  
Purchases of premises and equipment   (232,000) (137,000)  
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   2,198,000 3,316,000  
Purchases of other investments   (1,412,000) (1,108,000)  
Proceeds from sales of other investments   533,000 213,000  
Proceeds from bank owned life insurance death claim   300,000 0  
Net change in loans   9,155,000 (126,246,000)  
Proceeds from sales of other real estate owned   1,420,000 128,000  
Net cash paid in business combination   0 (22,749,000)  
Net cash used in investing activities   (3,403,000) (148,910,000)  
Cash flows from financing activities, net of effects of acquisition:        
Net change in demand and savings deposits   (28,251,000) 138,438,000  
Proceeds from FHLB advances   35,000,000 40,000,000  
Repayment of FHLB advances   (5,000,000) (20,000,000)  
Proceeds from PPPLF borrowings   0 129,230,000  
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 5,383,000  
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   (71,616,000) 298,051,000  
Net change in cash and cash equivalents   (62,537,000) 146,307,000  
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 194,424,000 115,716,000 194,424,000 $ 178,253,000
Supplemental disclosures of cash flow information:        
Cash paid for income taxes   1,510,000 1,478,000  
Cash paid for interest   1,804,000 2,761,000  
Vacant land transferred to other real estate owned $ 460,000 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 $ 29,010,000