XML 68 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
OPERATING ACTIVITIES:    
Net income (loss) $ 2,267,000us-gaap_NetIncomeLoss $ (277,000)us-gaap_NetIncomeLoss
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Provision for loan losses 300,000us-gaap_ProvisionForLoanAndLeaseLosses 0us-gaap_ProvisionForLoanAndLeaseLosses
Provision for real estate losses   242,000us-gaap_ProvisionForOtherLosses
Deferred tax provision (benefit) 885,000us-gaap_DeferredIncomeTaxExpenseBenefit (243,000)us-gaap_DeferredIncomeTaxExpenseBenefit
Deferred tax valuation allowance   243,000us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount
Net amortization (accretion) of investment securities 64,000us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments (1,000)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Federal Home Loan Bank stock dividends (2,000)bsf_FederalHomeLoanBankDividends  
Gain on sale of fixed assets, net   6,000us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Gain on sale of real estate owned, net (42,000)us-gaap_GainsLossesOnSalesOfOtherRealEstate (81,000)us-gaap_GainsLossesOnSalesOfOtherRealEstate
Gain on sale of investment securities, net (88,000)us-gaap_GainLossOnSaleOfSecuritiesNet 0us-gaap_GainLossOnSaleOfSecuritiesNet
Originations of loans held for sale (26,354,000)us-gaap_PaymentsForOriginationOfMortgageLoansHeldForSale (15,750,000)us-gaap_PaymentsForOriginationOfMortgageLoansHeldForSale
Proceeds from sales of loans held for sale 22,320,000us-gaap_ProceedsFromSaleOfMortgageLoansHeldForSale 13,328,000us-gaap_ProceedsFromSaleOfMortgageLoansHeldForSale
Gain on sale of loans originated to sell (637,000)us-gaap_GainLossOnSalesOfLoansNet (304,000)us-gaap_GainLossOnSalesOfLoansNet
Depreciation 622,000us-gaap_Depreciation 342,000us-gaap_Depreciation
Amortization of deferred loan costs, net 23,000us-gaap_AmortizationOfDeferredLoanOriginationFeesNet 39,000us-gaap_AmortizationOfDeferredLoanOriginationFeesNet
Accretion of purchased loans, net (1,128,000)us-gaap_AccretionExpense  
Amortization of other intangible assets 156,000us-gaap_AmortizationOfIntangibleAssets  
Stock compensation 20,000us-gaap_ShareBasedCompensation 75,000us-gaap_ShareBasedCompensation
Earnings on life insurance policies (367,000)us-gaap_BankOwnedLifeInsuranceIncome (200,000)us-gaap_BankOwnedLifeInsuranceIncome
Changes in operating assets and liabilities:    
Accrued interest receivable (55,000)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet (153,000)us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet
Prepaid expenses and other assets 1,308,000us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 25,000us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Other liabilities (402,000)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (43,000)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash used in operating activities (1,110,000)us-gaap_NetCashProvidedByUsedInOperatingActivities (2,752,000)us-gaap_NetCashProvidedByUsedInOperatingActivities
INVESTING ACTIVITIES:    
Redemptions of interest-bearing time deposits in banks 498,000us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks 249,000us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks
Purchases of investment securities available for sale (“AFS”) (9,728,000)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (100,000)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Proceeds from sales of investment securities AFS 2,082,000us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 0us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities
Proceeds from maturities/calls/paydowns of investment securities AFS 4,340,000us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities 701,000us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
Redemptions of Federal Home Loan Bank stock 141,000us-gaap_ProceedsFromSaleOfFederalHomeLoanBankStock  
Purchases of Federal Home Loan Bank stock (423,000)us-gaap_PaymentsToAcquireFederalHomeLoanBankStock  
Redemptions of Federal Reserve Bank stock 907,000us-gaap_ProceedsFromSaleOfFederalReserveStock  
Purchases of Federal Reserve Bank stock (3,243,000)us-gaap_PaymentsToAcquireFederalReserveStock  
Loan repayments (originations), net 25,735,000us-gaap_ProceedsFromLoanOriginations1 (9,169,000)us-gaap_ProceedsFromLoanOriginations1
Loan participations purchased (10,225,000)us-gaap_PaymentsToAcquireLoansHeldForInvestment (4,229,000)us-gaap_PaymentsToAcquireLoansHeldForInvestment
Proceeds from sales of real estate owned 581,000us-gaap_ProceedsFromSaleOfForeclosedAssets 1,888,000us-gaap_ProceedsFromSaleOfForeclosedAssets
Proceeds from sales of office properties and equipment   144,000us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Purchases of office properties and equipment (1,771,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (162,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Purchases of bank owned life insurance (772,000)us-gaap_PaymentsToAcquireLifeInsurancePolicies  
Net cash provided by (used in) investing activities 8,122,000us-gaap_NetCashProvidedByUsedInInvestingActivities (10,678,000)us-gaap_NetCashProvidedByUsedInInvestingActivities
FINANCING ACTIVITIES:    
Net (decrease) increase in deposits (27,539,000)us-gaap_IncreaseDecreaseInDeposits 18,992,000us-gaap_IncreaseDecreaseInDeposits
Proceeds from advances from Federal Home Loan Bank 11,174,000us-gaap_ProceedsFromFederalHomeLoanBankAdvances  
Repayment of advances from Federal Home Loan Bank (15,333,000)us-gaap_PaymentsForFederalHomeLoanBankAdvances (29,000)us-gaap_PaymentsForFederalHomeLoanBankAdvances
Net increase in other borrowings 543,000bsf_IncreaseDecreaseOtherDebt  
Net decrease in short term borrowings (6,507,000)bsf_IncreaseDecreaseShortTermBorrowings  
Repurchase of common stock (20,000)us-gaap_PaymentsForRepurchaseOfCommonStock  
Net cash (used in) provided by financing activities (37,682,000)us-gaap_NetCashProvidedByUsedInFinancingActivities 18,963,000us-gaap_NetCashProvidedByUsedInFinancingActivities
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (30,670,000)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 5,533,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS:    
Beginning of period 113,086,000us-gaap_CashAndCashEquivalentsAtCarryingValue 23,970,000us-gaap_CashAndCashEquivalentsAtCarryingValue
End of period 82,416,000us-gaap_CashAndCashEquivalentsAtCarryingValue 29,503,000us-gaap_CashAndCashEquivalentsAtCarryingValue
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION—    
Cash paid for interest 1,580,000us-gaap_InterestPaid 867,000us-gaap_InterestPaid
Cash received for income tax refunds 1,746,000us-gaap_ProceedsFromIncomeTaxRefunds  
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Real estate and other assets acquired in settlement of loans 613,000us-gaap_TransferToOtherRealEstate 453,000us-gaap_TransferToOtherRealEstate
Sales of real estate owned financed by the Bank 147,000us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1  
Investment securities purchased—not settled   $ 1,234,000us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired1