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Consolidated Statements of Cash flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (4,510) $ (172)
Adjustments to reconcile net loss to net cash from operating activities    
Net amortization of investment securities 54 121
Depreciation 373 464
Provision for credit losses 225 210
Gain on sale of other real estate owned (110)  
Net change in fair value of marketable equity securities (287) 892
Net loss on sale of available for sale securities 1,925  
Stock compensation expense 515 200
Deferred income tax expense (benefit) 1,001 (172)
Originations of mortgage loans held for sale (8,948) (19,006)
Proceeds from sales of mortgage loans held for sale 8,804 20,416
Net gain on sale of mortgage loans held for sale (141) (266)
ESOP compensation 109 151
Net change in cash value of life insurance (324) (317)
Changes in operating assets and liabilities:    
Net change in mortgage servicing rights 109 146
Accrued interest receivable and other assets 548 (907)
Accrued interest payable and other liabilities 333 (6)
Net cash (used in) provided by operating activities (324) 1,754
Cash flows from investing activities    
Proceeds from sales of securities available-for-sale 19,495 0
Maturities, prepayments, and calls of available-for-sale securities 9,747 14,561
Purchases of available-for-sale securities (21,413) (37,139)
Purchase of marketable equity securities (81) (71)
Net (increase) in loans (23,501) (31,486)
Net (increase) in FHLB stock, net (1,358) (174)
Proceeds from cash value life insurance death benefits 720  
Proceeds from sale of other real estate owned 699  
Distribution of marketable equity securities 12  
Net capital expenditures for premises and equipment (751) (162)
Net cash used in investing activities (16,431) (54,471)
Cash flows from financing activities    
Net (decrease) in deposits (748) (5,203)
Net increase in advance payments by borrowers for taxes and insurance 9,235 8,365
Proceeds from the issuance of Federal Home Loan Bank advances 100,500 10,000
Principal payments on Federal Home Loan Bank advances (93,465) (8,491)
Reimbursement of stock offering costs   2
Stock options exercised 19  
Repurchase and cancellation of common stock (470) (1,995)
Purchase and retirement of common stock (57)  
Purchases of ESOP shares   (1,062)
Net cash provided by financing activities 15,014 1,616
Net (decrease) in cash and cash equivalents (1,741) (51,101)
Cash and cash equivalents at beginning of period 28,344 66,803
Cash and cash equivalents at end of period 26,603 15,702
Supplemental cash flow information:    
Cash paid during the year for interest $ 5,039 1,075
Noncash activities    
Loans transferred to held for sale   $ 325