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FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 5,249,000 $ 9,944,000
Recapture of Provision for Loan and Lease Losses (400,000) (4,400,000)
Adjustments to reconcile net income to net cash provided by operating activities:    
OREO market value adjustments 29,000 0
Net amortization of premiums and discounts on investments 401,000 561,000
Loss on sale of investments available-for-sale 8,000 21,000
Depreciation of premises and equipment 862,000 809,000
Deferred federal income taxes 214,000 239,000
Allocation of ESOP shares 887,000 962,000
Stock compensation expense 231,000 410,000
Life Insurance, Corporate or Bank Owned, Change in Value 425,000 473,000
Changes in operating assets and liabilities:    
(Increase) decrease in prepaid expenses and other assets (2,504,000) 2,262,000
(Decrease) increase in advance payments from borrowers for taxes and insurance (89,000) 30,000
Increase in accrued interest receivable (582,000) 0
(Decrease) increase in accrued interest payable (17,000) 244,000
Increase in other liabilities 62,000 2,392,000
Net cash provided by operating activities 3,926,000 13,001,000
Cash flows from investing activities:    
Proceeds from sales, calls and maturities of investments available-for-sale 2,995,000 9,799,000
Principal repayments on investments available-for-sale 2,604,000 3,531,000
Purchases of investments available-for-sale (3,012,000) (22,107,000)
Net (increase) decrease in loans receivable (29,372,000) 3,806,000
Redemption (purchase) of FHLB stock 1,609,000 (528,000)
Purchase of premises and equipment (1,475,000) (1,631,000)
Purchase of BOLI (1,457,000) 0
Net cash used by investing activities (28,108,000) (7,130,000)
Cash flows from financing activities:    
Net increase (decrease) in deposits 86,678,000 (6,750,000)
Advances from the FHLB 162,500,000 236,500,000
Repayments of advances from the FHLB (204,000,000) (228,500,000)
Proceeds from stock options exercises 0 1,365,000
Net share settlement of stock awards (93,000) 0
Repurchase and retirement of common stock (5,512,000) 0
Dividends paid (1,703,000) (1,544,000)
Net cash provided by financing activities 37,870,000 1,071,000
Cash and cash equivalents:    
Net decrease in cash and cash equivalents 13,688,000 6,942,000
Cash and cash equivalents at beginning of period 17,010,000 16,131,000
Cash and cash equivalents at end of period 30,698,000 23,073,000
Cash paid during the period for:    
Interest paid 9,895,000 6,344,000
Federal income taxes paid 1,435,000 2,170,000
Noncash transactions:    
Change in unrealized loss on investments available-for-sale 2,407,000 (2,381,000)
Change in gain on cash flow hedge (1,212,000) 840,000
BOLI settlement receivable $ 277,000 $ 0