XML 43 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 4,162,000 $ 2,540,000
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for loan losses (3,788,000) (520,000)
Depreciation 271,000 518,000
Amortization of premiums, net 8,000 51,000
Amortization of deferred loan fees (119,000) (117,000)
Amortization of mortgage servicing rights 249,000 331,000
Capitalized mortgage servicing rights (112,000) (394,000)
Gain on sales of real estate owned (1,052,000) (325,000)
Gain on sales of loans (676,000) (1,380,000)
Proceeds from sale of loans held for sale 23,098,000 56,136,000
Disbursements on loans held for sale (17,436,000) (47,341,000)
Amortization of restricted stock awards 112,000 72,000
Amortization of unearned ESOP shares 97,000 97,000
Cancellation of vested restricted stock awards 0 (120,000)
Earned employee stock ownership shares priced above (below) original cost 22,000 (23,000)
Stock option compensation 0 2,000
Decrease in accrued interest receivable 211,000 14,000
Decrease in accrued interest payable (43,000) (69,000)
Decrease in other assets 132,000 462,000
Increase (decrease) in other liabilities 2,534,000 (90,000)
Other, net 305,000 145,000
Net cash provided by operating activities 7,975,000 9,989,000
Cash flows from investing activities:    
Principal collected on securities available for sale 1,253,000 3,135,000
Proceeds collected on maturities of securities available for sale 30,000,000 6,000,000
Purchases of securities available for sale (50,000,000) (15,092,000)
Redemption of Federal Home Loan Bank Stock 7,000 3,279,000
Proceeds from sales of real estate and premises 4,305,000 2,279,000
Net decrease in loans receivable 13,448,000 30,147,000
Purchases of premises and equipment (414,000) (228,000)
Net cash (used) provided by investing activities (1,401,000) 29,520,000
Cash flows from financing activities:    
Decrease in deposits (31,080,000) (23,214,000)
Redemption of preferred stock (10,000,000) 0
Dividends to preferred stockholders (5,244,000) 0
Proceeds from borrowings 0 10,000,000
Repayment of borrowings 0 (80,000,000)
Increase (decrease) in customer escrows 266,000 (22,000)
Net cash used by financing activities (46,058,000) (93,236,000)
Decrease in cash and cash equivalents (39,484,000) (53,727,000)
Cash and cash equivalents, beginning of period 120,686,000 83,660,000
Cash and cash equivalents, end of period 81,202,000 29,933,000
Supplemental cash flow disclosures:    
Cash paid for interest 683,000 2,576,000
Cash paid for income taxes 0 205,000
Supplemental noncash flow disclosures:    
Transfer of loans to real estate 112,000 924,000
Loans transferred to loans held for sale $ 7,296,000 $ 8,078,000