Cash flows from operating activities: | |
Net income | 2.33M |
Adjustments to reconcile net income to net cash used in operating activities: | |
Provision for loan losses, not covered under FDIC loss sharing agreements | |
Provision for covered loan losses | 94.75K |
Depreciation and amortization | 411.15K |
Deferred income tax expense (benefit) | |
Accretion and amortization of premiums and discounts, net | 789.29K |
Accretion of fair value discounts related to covered loans | -2.28M |
Accretion of fair value discounts related to FDIC receivable | -147.67K |
Gain on sale of loans and loan servicing release fees | -349.97K |
Proceeds from sale of loans | 13.14M |
Originations and purchases of loans held for sale | -15.02M |
Gain on acquisition | |
Gain on sale of mortgage-backed securities, collateralized mortgage obligations, and other investments | |
Other-than-temporary impairment-securities | 0 |
Other-than-temporary impairment-other | |
Write down of real estate owned | 236.43K |
Loss (gain) on sale of real estate owned | -140.24K |
Recovery payable to FDIC on other real estate owned gains | |
Restricted stock award expense | 0 |
Stock option expense | 32.08K |
Increase in cash surrender value on bank owned life insurance | -255.29K |
Changes in assets and liabilities: | |
Decrease in accrued interest and dividends receivable | 361.07K |
Increase in other assets | -673.15K |
Decrease in other liabilities | -3.92M |
Net cash used in operating activities | -5.31M |
Cash flows from investing activities: | |
Proceeds from sales of mortgage-backed securities and collateralized mortgage obligations available for sale | |
Proceeds from sales of other securities available for sale | 13.95M |
Principal collections on government sponsored entities securities available for sale | |
Principal collections on mortgage-backed securities and collateralized mortgage obligations available for sale | |
Purchase of mortgage-backed securities and collateralized mortgage obligations available for sale | |
Purchase of other securities available for sale | -26.39M |
Proceeds from maturities of other securities available for sale | 7.07M |
Proceeds from redemption of FHLB stock | 45K |
Net decrease (increase) in loans receivable | 16.05M |
Net decrease in FDIC receivable | -8.32M |
Proceeds from sale of real estate owned | 6.36M |
Purchases of premises and equipment | -77.2K |
Net cash received from acquisitions | |
Net cash provided by investing activities | 22.75M |
Cash flows from financing activities: | |
Dividends on restricted stock awards | |
Dividends paid | 0 |
Net decrease in deposits | 5.86M |
Principal payments on Federal Home Loan Bank advances | -1M |
Net decrease in advance payments by borrowers for taxes and insurance | |
Net cash used in financing activities | 3.98M |
Net (decrease) increase in cash and cash equivalents | 21.42M |
Cash and cash equivalents at beginning of period | 108.83M |
Cash and cash equivalents at end of period | 130.25M |
Supplemental disclosures of cash flow information: | |
Interest paid | 2.09M |
Income taxes paid | 2.65M |
Supplemental disclosure of noncash activities: | |
Real estate acquired through foreclosure of collateral on loans receivable | 4.1M |
Issuance of ESOP common stock | 0 |
Unrealized gain on securities available for sale, net |