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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 12,854 $ 13,059
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,244 2,045
Purchased loans amortization (accretion), net 21 (47)
Provision for loan losses   50
Stock-based compensation expense 317 34
Increase in deferred loan origination fees, net of amortization 49 599
Origination of loans held for sale (7,178) (8,944)
Proceeds from sales of loans held for sale 8,219 9,303
Net gains on sales of loans held for sale, sales of investment securities available for sale and sales of premises and equipment (313) (644)
Income from BOLI [1] (585) (545)
Changes in certain other assets and liabilities:    
Prepaid expenses and other assets 1,775 (261)
Accrued interest receivable 190 (312)
Accrued expenses and other liabilities 81 6,326
Net cash provided by operating activities 17,674 20,663
CASH FLOWS FROM INVESTING ACTIVITIES:    
Loan repayments (originations), net 4,745 (36,726)
Purchases of loans receivable (15,198) (20,318)
Principal repayments on investment securities available for sale 21,676 20,591
Purchases of investment securities available for sale (18,125)  
Proceeds from calls, maturities and sales of investment securities available for sale 21,122 10,000
Principal repayments on investment securities held to maturity 6 6
Purchases of premises and equipment and capitalized software (1,348) (304)
Redemption of certificates of deposit held for investment 498 5,220
Redemption (purchase) of FHLB stock, net 2,264 (1,382)
Proceeds from sales of real estate owned ("REO") and premises and equipment 81 975
Net cash provided by (used in) investing activities 15,721 (21,938)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposits 65,409 (52,067)
Dividends paid (2,945) (2,259)
Proceeds from borrowings 214,897 166,255
Repayment of borrowings (271,483) (131,712)
Net decrease in advance payments by borrowers for taxes and insurance (302) (445)
Principal payments on finance lease liability (25) (21)
Proceeds from exercise of stock options 227 151
Net cash provided by (used in) financing activities 5,778 (20,098)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 39,173 (21,373)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 22,950 44,767
CASH AND CASH EQUIVALENTS, END OF PERIOD 62,123 23,394
Cash paid during the period for:    
Interest 3,406 1,811
Income taxes 2,945 5,063
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Dividends declared and accrued in other liabilities 1,138 904
Other comprehensive income 3,244 568
Income tax effect related to other comprehensive income (779) $ (134)
Right-of-use lease assets obtained in exchange for operating lease liabilities $ 5,603  
[1] Not within the scope of ASC 606