XML 20 R9.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 1,128 $ 722
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 218 205
Accretion of purchased loan credit discount (43) (83)
Amortization of purchased loan premium 26 8
Amortization of deferred loan origination costs (fees) (1) 70
Amortization of premiums on investment securities 7 6
Net gain on sale of loans (280) (75)
Net (gain) loss on sale of real estate owned 18 (6)
Valuation adjustments of real estate owned 19 36
ESOP compensation expense 60 82
Earnings on bank-owned life insurance (58) (58)
Provision for loan losses 192 64
Origination of loans held for sale (6,468) (2,655)
Proceeds from loans held for sale 6,154 2,170
Increase (decrease) in cash, due to changes in:    
Accrued interest receivable 103 46
Prepaid expenses and other assets 104 135
Accrued interest payable (2) 5
Other liabilities 123 99
Income taxes (41) 180
Net cash provided by operating activities 1,259 951
Cash flows from investing activities:    
Purchase of time deposits in other financial institutions   (2,500)
Maturities of time deposits in other financial institutions 1,982 6,739
Held to maturity 100 144
Available for sale 506 500
Purchase of FHLB stock   (16)
Loans originated for investment, net of principal collected (13,767) 2,062
Proceeds from sale of real estate owned 753 180
Additions to real estate owned (1) (39)
Additions to premises and equipment, net (68) (156)
Net cash provided by (used in) investing activities (10,495) 6,914
Cash flows from financing activities:    
Net increase in deposits 13,270 12,719
Payments by borrowers for taxes and insurance, net (240) (246)
Proceeds from Federal Home Loan Bank advances 38,600 13,800
Repayments on Federal Home Loan Bank advances (40,122) (25,461)
Treasury stock purchased (167) (475)
Dividends paid on common stock (1,040) (1,038)
Net cash provided by (used in) financing activities 10,301 (701)
Net increase in cash and cash equivalents 1,065 7,164
Beginning cash and cash equivalents 13,702 9,861
Ending cash and cash equivalents 14,767 17,025
Cash paid during the period for:    
Federal income taxes 191
Interest on deposits and borrowings 1,662 2,746
Transfers of loans to real estate owned, net 327 304
Loans made on sale of real estate owned $ 37 $ 95