XML 19 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash Flows From Operating Activities:              
Net income (loss) $ 5,932,000 $ 2,452,000 $ (571,000) $ (1,213,000) $ 8,384,000 $ (1,784,000)  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:              
Amortization of premiums/discounts on securities, net         25,000 25,000  
Gain on sale of loans         (171,000)    
Gain on sale of real property         (4,839,000)    
Gain on derivatives         (283,000)    
Provision for loan losses (Note 5) 586,000   271,000   1,272,000 1,417,000 $ 2,443,000
Depreciation and amortization 636,424   624,684   1,239,000 1,226,000  
ESOP compensation         330,000 247,000  
Share-based compensation expense         704,000 698,000  
Deferred income taxes         (873,000) (640,000)  
Changes in assets and liabilities:              
Decrease in mortgage loans held for sale, fair value         19,064,000    
Increase in accrued interest receivable         (1,738,000) (3,695,000)  
Decrease (increase) in other assets         7,027,000 (4,203,000)  
Decrease in accrued interest payable         (5,000) (49,000)  
Increase (decrease) in advance payments by borrowers         663,000 (341,000)  
Decrease in mortgage loan funding payable         (740,000)    
(Decrease) increase in other liabilities         (1,696,000) 3,232,000  
Net cash provided by (used in) operating activities         28,363,000 (3,867,000)  
Cash Flows From Investing Activities:              
Proceeds from redemption of FHLBNY stock         947,000 4,109,000  
Purchases of FHLBNY Stock         (677,000) (4,796,000)  
Purchases of available-for-sale securities         (35,237,000) (9,130,000)  
Proceeds from sale of available-for-sale securities         2,641,000    
Proceeds from maturities, calls and principal repayments on available-for-sale securities         1,531,000 16,955,000  
Proceeds from sales of loans         4,030,000 3,530,000  
Net increase in loans         (194,013,000) (121,627,000)  
Proceeds from sale of real property         8,152,000    
Purchases of premises and equipment         (6,564,000) (582,000)  
Net cash used in investing activities         (219,190,000) (111,541,000)  
Cash Flows From Financing Activities:              
Net increase in deposits         206,582,000 154,176,000  
Repurchase of treasury stock         (1,607,000) (2,694,000)  
Proceeds from the sale of treasury stock         4,743,000    
Proceeds from advances from FHLBNY         11,500,000 179,130,000  
Repayments of advances from FHLBNY         (19,500,000) (166,250,000)  
Net advances on warehouse lines of credit         (16,877,000)    
Net cash provided by financing activities         184,841,000 164,362,000  
Net (decrease) increase in cash and cash equivalents         (5,986,000) 48,954,000  
Cash and Cash Equivalents including restricted cash:              
Beginning   $ 72,078,000   $ 27,677,000 72,078,000 27,677,000 27,677,000
Ending $ 66,092,000   $ 76,631,000   66,092,000 76,631,000 $ 72,078,000
Supplemental disclosures of cash flow information:              
Cash paid for interest on deposits and borrowings         4,402,000 6,028,000  
Cash paid for income taxes         $ 2,288,000 $ 91,000