XML 55 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:      
Net income $ 4,515 $ 2,974 $ 3,016
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 550 675 425
Changes in fair value of mortgage servicing rights 41 161 (159)
Net amortization of securities premiums 372 783 199
Depreciation and amortization 671 734 764
Gain on sales of securities, net 0 (114) (19)
Loans originated for sale (16,615) (31,285) (23,073)
Proceeds from loan sales 17,835 31,848 23,171
Gain on sales of loans, net (276) (910) (625)
Net (gain) loss on other real estate owned (1) (38) 41
Increase in cash surrender value of bank-owned life insurance (503) (529) (470)
Deferred tax provision (benefit) 522 (179) 1,296
Employee Stock Ownership Plan expense 685 613 530
Stock-based compensation 46 503 926
Tax benefit from Equity Incentive Plan vesting (1) (105) (42)
Net change in:      
Accrued interest receivable (52) 39 (134)
Other assets (219) 1,031 (461)
Accrued expenses and other liabilities (1,437) 539 (893)
Net cash provided by operating activities 6,133 6,740 4,492
Cash flows from investing activities: Activity in available-for-sale securities:      
Sales 0 3,189 1,308
Maturities and calls 6,626 178 1,000
Principal payments 29,547 45,899 29,766
Purchases (41,361) (47,588) (63,620)
Purchase of loans (5,321) (6,576) (8,390)
Loan originations, net of principal payments (53,073) (38,559) (1,578)
Proceeds from sales of other real estate owned 1,469 1,100 304
Purchase of bank-owned life insurance 0 (222) (5,000)
(Purchase) redemption of Federal Home Loan Bank stock (1,556) (133) 274
Purchase of premises and equipment (329) (585) (514)
Net cash used by investing activities (63,998) (43,297) (46,450)
Cash flows from financing activities:      
Net change in deposits 16,934 39,966 17,577
Net change in securities sold under agreements to repurchase 0 (7,315) 82
Net change in short-term borrowings (500) 1,500 3,000
Proceeds from issuance of long-term debt 72,203 28,135 35,411
Repayment of long-term debt (42,249) (22,304) (6,228)
Net change in mortgagors' escrow accounts 84 90 80
Tax benefit from Equity Incentive Plan vesting 1 105 42
Issuance of common stock for exercise of stock options 163 343 0
Repurchase of common stock (454) (5,271) (10,410)
Payment of dividends on common stock (1,268) (997) (820)
Net cash provided by financing activities 44,914 34,252 38,734
Net increase (decrease) in cash and cash equivalents (12,951) (2,305) (3,224)
Cash and cash equivalents at beginning of year 25,618 27,923 31,147
Cash and cash equivalents at end of year 12,667 25,618 27,923
Supplemental cash flow information:      
Interest paid on deposits 3,009 3,664 4,197
Interest paid on borrowings 2,156 1,832 1,597
Income taxes paid 2,333 960 284
Securities reclassified from available-for-sale to held-to-maturity 9,302 0 0
Transfers from loans to other real estate owned $ 556 $ 413 $ 907