Cash flows from operating activities: | |
Net income | 1.59M |
Adjustments to reconcile net income to net cash used for operating activities: | |
Depreciation and amortization | 697K |
Provision for loan losses | -150K |
Provision for losses on real estate owned | |
Gain on sale of loans, net | |
Net realized gain on sale of real estate owned | -54K |
Stock-based compensation expense | 702K |
ESOP expense | |
Decrease in current and deferred income taxes | 1.42M |
Increase in cash surrender value of bank owned life insurance | |
Increase in accounts payable, accrued interest and other liabilities | |
(Increase) decrease in prepaid expenses and other assets | -361K |
Loans originated for sale | -647.34M |
Proceeds from sale of loans | 579.7M |
Net cash used for operating activities | -70.55M |
Cash flows from investing activities: | |
Net decrease in loans held for investment | |
Principal payments from investment securities available for sale | 4.05M |
Proceeds from redemption of FHLB - San Francisco stock | |
Proceeds from sales of real estate owned | 307K |
Purchase of premises and equipment | -78K |
Net cash provided by investing activities | -10.82M |
Cash flows from financing activities: | |
Increase (decrease) in deposits, net | 17.12M |
Repayments of long-term borrowings | -18K |
ESOP loan payment | |
Cash dividends paid | -1.03M |
Treasury Stock purchases | -1.66M |
Net cash used for financing activities | 69.61M |
Net decrease in cash and cash equivalents | -11.76M |
Cash and cash equivalents at beginning of year | |
Cash and cash equivalents at end of year | |
Supplemental information: | |
Cash paid for interest | 1.67M |
Cash paid for income taxes | 100K |
Transfer of loans held for sale to loans held for investment | |
Real estate acquired in the settlement of loans | 1.3M |