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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash Flows From Operating Activities:          
Net income $ 4,009 $ 709 $ 2,225 $ 2,327  
Adjustments to reconcile net income to net cash provided by operating activities:          
Amortization of premiums/discounts on securities, net     (7) 42  
Loss on sale of loans     62 114  
Gain on sale of real property     (4,412)    
Gain on derivatives     (58)    
Provision for loan losses (Note 5) 620 14 2,037 163 $ 258
Depreciation and amortization 652 567 1,878 1,626  
ESOP compensation     402 574  
Share-based compensation expense     1,049 999  
Deferred income taxes     131 (166)  
Changes in assets and liabilities:          
Increase in loans held for sale     (1,521) (1,030)  
Increase in accrued interest receivable     (6,013) (98)  
(Increase) decrease in other assets     (7,393) 12  
(Decrease) increase in accrued interest payable     (39) 18  
Increase in advance payments by borrowers     1,391 1,743  
Increase in loan funding payable     220    
Increase (decrease) in other liabilities     7,415 (1,301)  
Net cash (used in) provided by operating activities     (2,633) 5,023  
Cash Flows From Investing Activities:          
Business acquisition, net of cash acquired     (1,005)    
Proceeds from redemption of FHLBNY stock     4,378 6,795  
Purchases of FHLBNY Stock     (5,057) (12,539)  
Purchases of available-for-sale securities     (10,113) (30,000)  
Proceeds from maturities, calls and principal repayments on available-for-sale securities     17,288 5,491  
Placements with banks     (2,739)    
Proceeds from sales of loans     3,977 3,660  
Net increase in loans     (159,295) (32,946)  
Proceeds from sale of real property     4,743    
Purchases of premises and equipment     (1,336) (3,296)  
Net cash used in investing activities     (149,159) (62,835)  
Cash Flows From Financing Activities:          
Net increase (decrease) in deposits     191,201 (51,913)  
Repurchase of treasury stock     (3,803) (12,663)  
Proceeds from advances from FHLBNY     184,730 517,398  
Repayments of advances from FHLBNY     (171,851) (417,398)  
Net advances on warehouse lines of credit     (70)    
Net cash provided by financing activities     200,207 35,424  
Net increase (decrease) in cash and cash equivalents     48,415 (22,388)  
Cash and Cash Equivalents:          
Beginning     27,677 69,778 69,778
Ending $ 76,092 $ 47,390 76,092 47,390 $ 27,677
Supplemental disclosures of cash flow information:          
Cash paid for interest on deposits and borrowings     8,769 9,160  
Cash paid for income taxes     98 $ 888  
Non-cash assets acquired:          
Mortgage loans held for sale, at fair value     10,549    
Premises and equipment, net     302    
Other assets     772    
Total non-cash assets acquired     11,623    
Liabilities assumed:          
Warehouse lines of credit     9,135    
Mortgage loans funding payable     1,237    
Other liabilities     246    
Total liabilities assumed     10,618    
Net non-cash assets acquired     1,005    
Cash and cash equivalents acquired     750    
Consideration paid     $ 1,755