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FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net income $ 10,369,000 $ 14,899,000
Adjustments to reconcile net income to net cash provided by operating activities    
Recapture of provision for loan losses (300,000) (4,000,000)
OREO market value adjustments 29,000 0
Net amortization of premiums and discounts on investments 835,000 1,022,000
(Gain) loss on sale of investments available-for-sale (151,000) 20,000
Depreciation of premises and equipment 1,840,000 1,630,000
Loss on sale of premises and equipment 5,000 0
Decrease (increase) in deferred federal income taxes 109,000 (281,000)
Allocation of ESOP shares 1,698,000 1,906,000
Stock compensation expense 501,000 650,000
Increase in cash surrender value of BOLI (994,000) (814,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 153,000 2,567,000
Right of use asset (2,209,000) 0
Advance payments from borrowers for taxes and insurance (12,000) 418,000
Accrued interest receivable (70,000) 16,000
Lease liability 2,279,000 0
Accrued interest payable (193,000) 152,000
Other liabilities (809,000) 491,000
Net cash provided by operating activities 13,080,000 18,676,000
Cash flows from investing activities    
Proceeds from sales and call of investments 14,260,000 17,159,000
Principal repayments on investments 7,395,000 7,078,000
Purchases of investments (14,417,000) (37,021,000)
Net increase in loans receivable (85,258,000) (30,242,000)
Purchases of premises and equipment (2,980,000) (2,347,000)
Redemption of FHLB stock 301,000 2,572,000
Proceeds from Life Insurance Policy 310,000 0
Purchase of BOLI (1,457,000) 0
Net cash provided in investing activities (81,846,000) (42,801,000)
Cash flows from financing activities    
Net increase in deposits 94,502,000 99,530,000
Advances from the FHLB 350,200,000 187,500,000
Repayments of advances from the FHLB (359,000,000) (257,000,000)
Proceeds from stock options exercises 21,000 1,365,000
Issuance of common stock - restricted stock awards, net (93,000) (40,000)
Repurchase and retirement of common stock (7,406,000) (3,153,000)
Dividends paid (3,478,000) (3,198,000)
Net cash provided by financing activities 74,746,000 25,004,000
Cash and cash equivalents:    
Net increase in cash and cash equivalents 5,980,000 879,000
Cash and cash equivalents at beginning of year 17,010,000 16,131,000
Cash and cash equivalents at end of year 22,990,000 17,010,000
Cash paid during the period for:    
Interest 21,383,000 14,586,000
Federal income taxes 2,175,000 3,890,000
Noncash transactions:    
Change in unrealized gain (loss) on investments available-for-sale 2,353,000 (1,814,000)
Change in unrealized (losses) gain on cash flow hedge (1,237,000) $ 137,000
Initial recognition of right-of-use asset 2,762,000  
Initial recognition of lease liability $ 2,762,000