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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 3,779 $ 1,328
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for loan losses 133 626
Depreciation expense 985 582
Other accretion, net (2,149) (545)
Deferred income taxes 1,283 51
Impact of tax law change   (408)
Other real estate impairment 25  
Gain on bargain purchase   (746)
Net gain on disposition of premises and equipment (495)  
Net gain on sale of other real estate owned (206)  
Amortization of core deposit intangibles 255 242
Amortization of ESOP 108  
Net gain on sale of securities (36) (238)
Earnings on bank-owned life insurance (473) (347)
(Decrease) increase in pension liabilities (2,735) 2,735
Other, net (733) (3,130)
Net cash (used in) provided by operating activities (259) 150
Securities available for sale:    
Purchases (96,187) (98,928)
Maturities, calls and principal paydowns 25,702 19,439
Proceeds from sale of securities 35,743 13,575
Securities held to maturity:    
Maturities, calls and principal paydowns   268
Net decrease (increase) in loans receivable 49,140 (4,960)
Interest bearing time deposits:    
Purchases (600) (1,500)
Maturities and principal paydowns 1,050 7,986
Purchase of bank-owned life insurance (20,000)  
Regulatory stock purchases (11)  
Regulatory stock redemptions 1,257 133
Proceeds from sale of other real estate owned 376  
Purchases of premises and equipment, net (890) (1,814)
Proceeds from the sale of premises and equipment 3,734 8
Acquisitions, net of cash acquired   48,848
Net cash used in investing activities (686) (16,945)
Cash flows from financing activities    
Net (decrease) increase in deposits (6,033) 77,117
Increase in borrowed funds 2,501 12,000
Repayment of borrowed funds (25,725) (14,031)
Purchase of unearned common stock held by employee stock ownership plan (10,112)  
Issuance of common stock funded by stock subscriptions 128,861  
Purchase of treasury stock (49)  
(Decrease) increase in advances from borrowers for taxes and insurance (805) 439
Cash dividends (1,886) (1,983)
Net cash provided by financing activities 86,752 73,542
Net increase in cash and cash equivalents 85,807 56,747
Cash and cash equivalents - beginning 82,915 26,168
Cash and cash equivalents - ending 168,722 82,915
Supplementary cash flows information    
Interest paid 5,127 5,157
Income tax (refunds) payments (301) 12
Transfers of securities from held to maturity to available for sale   1,637
Operating lease right-of-use asset recorded 1,157 1,789
Operating lease liabilities recorded 1,157 1,771
Premises transferred to held for sale 3,199  
Transfer of loans to other real estate owned $ 161  
Acquisition of noncash assets and liabilities:    
Assets acquired   244,854
Liabilities assumed   $ 223,566