XML 47 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income $ 2,916 $ 1,715
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 231 189
Amortization of discounts and premiums on investment securities, net 139 0
Amortization of deferred loan origination (fees) costs 10 8
Amortization of premiums on FHLB advances (84) (12)
Amortization of premiums on deposits (346) 0
Amortization of core deposit intangibles 0 87
Net gain on sale of loans (200) (23)
Write down of real estate owned 25 0
Net loss (gain) on real estate owned 0 67
Net gain on sale of equipment 0 (3)
Deferred gain on sale of real estate acquired through foreclosure (7) (17)
ESOP compensation expense 146 180
Earnings on bank-owned life insurance (90) (90)
Provision for loan losses 662 139
Origination of loans held for sale (4,126) (875)
Proceeds from loans held for sale 4,611 417
Increase (decrease) in cash, due to changes in:    
Accrued interest receivable 13 41
Prepaid expenses and other assets 449 50
Accrued interest payable (46) (27)
Accounts payable and other liabilities 102 (148)
Federal income taxes    
Current 110 (8)
Deferred 213 (247)
Net cash provided by operating activities 4,728 1,443
Cash flows from investing activities:    
Acquisition of CKF Bancorp, net (3,352) 0
Purchase of available-for-sale securities 0 (12,500)
Purchase of held-to-maturity securities (14,000) 0
Investment securities maturities, prepayments and calls:    
Held to maturity 17,163 2,054
Available for sale 26 12,514
Loans originated for investment, net of principal collected 15,592 2,456
Proceeds from sale of real estate owned 504 177
Additions to premises and equipment, net (76) (163)
Net cash provided by investing activities 15,857 4,538
Cash flows from financing activities:    
Net change in deposits (4,702) (5,388)
Payments by borrowers for taxes and insurance, net 45 16
Proceeds from Federal Home Loan Bank advances 22,500 29,000
Repayments on Federal Home Loan Bank advances (32,310) (27,184)
Reissuance of treasury stock at less than cost 6,031 0
Treasury stock repurchases (61) (135)
Dividends paid on common stock (1,283) (1,604)
Net cash used in financing activities (9,780) (5,295)
Net increase (decrease) in cash and cash equivalents 10,805 686
Beginning cash and cash equivalents 5,735 5,049
Ending cash and cash equivalents 16,540 5,735
Supplemental disclosure of cash flow information:    
Federal income taxes 960 1,090
Interest on deposits and borrowings 2,144 2,218
Supplemental disclosure of noncash investing activities:    
Transfers from loans to real estate acquired through foreclosure 2,203 96
Loans disbursed upon sales of real estate acquired through foreclosure $ 2,563 $ 2,375