XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net income $ 1,810 $ 1,693
operating activities:    
Depreciation expense 208 209
Premium amortization on investment securities, net 43 58
Provision for loan losses 317 101
Originations of SBA loans held for sale (1,825) (2,437)
Proceeds from the sales of SBA loans 2,005 2,718
Gains on sale of loans receivable (180) (281)
ESOP compensation expense 41 61
Stock-based compensation expense 180
Deferred income tax expense (benefit) (237) 26
Decrease in accrued interest receivable (348) (51)
Increase in surrender value of bank owned life insurance (95) (87)
Increase in other assets 160 360
Decrease in accrued interest payable 77 (4)
Increase in accounts payable and other liabilities (821) (30)
Net cash provided by operating activities 1,335 2,336
Investing activities    
Net increase in loans receivable (46,554) 10,934
Purchases of investment securities held to maturity   (10,064)
Purchases of investment securities available for sale 992 1,221
Principal repayments on investment securities available for sale 209 671
Purchase of bank owned life insurance   (3,000)
Purchases of premises and equipment (10) (77)
Investment in other real estate owned (11) (12)
Redemption of Federal Home Loan Bank stock (659) 77
Net cash used in investing activities (46,033) (250)
Financing activities    
Net increase in deposits 8,350 7,861
Purchase of common stock for ESOP   (98)
Net increase in escrowed funds (39) 35
Proceeds from long-term advances 3,000
Repayments of long-term advances   (2,000)
Net change in short-term advances 11,100  
Cash paid on common stock dividends (744) (814)
Purchase of treasury stock (27)
Net cash provided by financing activities 21,640 4,984
Net (decrease) increase in cash and cash equivalents (23,058) 7,070
Cash and cash equivalents, beginning of period 30,936 75,201
Cash and cash equivalents, end of period 7,878 82,271
Cash paid for    
Interest $ 1,533 $ 575