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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 4,237 $ 3,779
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
(Recovery) provision for loan losses (20) 133
Depreciation expense 975 985
Other accretion, net (1,057) (2,149)
Deferred income taxes 683 1,283
(Gain) loss on lease abandonment (117) 162
Other real estate impairment   25
Net loss (gain) on disposition of premises and equipment 7 (495)
Net gain on sale of other real estate owned (18) (206)
Amortization of core deposit intangibles 225 255
Amortization of ESOP 430 108
Net gain on sale of securities (62) (36)
Unrealized loss on equity securities 242  
Earnings on bank-owned life insurance (1,038) (473)
Stock based compensation expense 249  
Decrease in pension liabilities   (2,735)
Other, net 124 (895)
Net cash provided by (used in) operating activities 4,860 (259)
Securities available for sale:    
Purchases (97,948) (96,187)
Maturities, calls and principal paydowns 13,201 25,702
Proceeds from sale of securities 5,008 35,743
Securities held to maturity:    
Purchases (106,967)  
Maturities, calls and principal paydowns 4,813  
Equity securities:    
Purchases (2,500)  
Net (increase) decrease in loans receivable (13,092) 49,140
Interest bearing time deposits:    
Purchases   (600)
Maturities and principal paydowns 1,250 1,050
Purchase of bank-owned life insurance (2,901) (20,000)
Regulatory stock purchases (4,249) (11)
Regulatory stock redemptions 3,396 1,257
Proceeds from sale of other real estate owned 93 376
Purchases of premises and equipment, net (855) (890)
Proceeds from the sale of premises and equipment 20 3,734
Net cash used in investing activities (200,731) (686)
Cash flows from financing activities    
Net increase (decrease) in deposits 53,917 (6,033)
Increase in borrowed funds 65,000 2,501
Repayment of borrowed funds (41,000) (25,725)
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)
Repurchase of common stock (9,080)  
Decrease in advances from borrowers for taxes and insurance (375) (805)
Cash dividends (5,143) (1,886)
Net cash provided by financing activities 63,319 86,752
Net (decrease) increase in cash and cash equivalents (132,552) 85,807
Cash and cash equivalents - beginning 168,722 82,915
Cash and cash equivalents - ending 36,170 168,722
Supplementary cash flows information    
Interest paid 3,031 5,127
Income tax refunds (666) (301)
Operating lease right-of-use asset recorded 5,202 1,157
Operating lease liabilities recorded 5,202 1,157
Premises transferred to held for sale $ 1,596 3,199
Transfer of loans to other real estate owned   $ 161