XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 3,419 $ 5,234
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 671 692
Provision for credit losses 750 120
Net (accretion) amortization on securities (370) 268
ESOP compensation 117 122
Loss (earnings) on bank-owned life insurance 56 (461)
Proceeds from sale of loans   100
Net gain on sale of loans   (2)
Net (gain) loss on equity securities (80) 39
Deferred tax expense 37 243
Decrease (increase) in accrued interest receivable 70 (1,272)
Increase in other assets (156) (1,738)
Increase in other liabilities 7,920 4,624
Changes in operating leases 8 6
Net cash provided by operating activities 12,442 7,975
Cash flows from investing activities:    
Proceeds from maturities, paydowns and calls of securities available for sale 45,077 39,329
Purchases of securities available for sale (23,924) (80,173)
Proceeds from maturities and paydowns of securities held to maturity 1,617 1,630
Purchases of securities held to maturity (1,576) (1,527)
Net purchases of FHLBNY stock (38) (35)
Net increase in loans receivable (57,774) (37,288)
Purchases of premises and equipment (373) (65)
Proceeds from bank-owned life insurance death benefit   1,143
Cash paid for acquisitions (1,980)  
Net cash used in investing activities (38,971) (76,986)
Cash flows from financing activities:    
Net increase in deposits 96,984 98,739
Net decrease in mortgagors' escrow deposits (4,364) (2,894)
Repayment of finance lease liability (25) (25)
Net cash provided by financing activities 92,595 95,820
Net increase in cash and cash equivalents 66,066 26,809
Cash and cash equivalents at beginning of period 150,478 376,060
Cash and cash equivalents at end of period 216,544 402,869
Cash paid during the period for:    
Interest 4,280 503
Income taxes 1,000 900
Non-cash investing and financing activity:    
Acquisition contingent consideration payable $ 1,499  
Adoption of lease accounting standard:    
Right of use assets   6,535
Lease liabilities   $ 6,883