XML 64 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income (loss) $ (844) $ 1,851
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for loan losses   1,061
Provision for losses on loans receivable held for sale 468 186
Provision for losses on REO 223 312
Depreciation 106 149
Net amortization of deferred loan origination costs 125 58
Net amortization of premiums on mortgage-backed securities 19 31
Amortization of investment in affordable housing limited partnership 110 89
Stock-based compensation expense 22 40
Earnings on bank owned life insurance (34) (40)
Net (gains) losses on sales of REO 2 (395)
Net gains on sales of loans (97)  
Gain on sale of office properties and equipment   (2,523)
Gain on sale of securities   (50)
Net change in accrued interest receivable 109 222
Net change in deferred tax assets   850
Net change in other assets 1,048 (77)
Net change in accrued interest payable 367 362
Net change in other liabilities (28) (183)
Net cash provided by operating activities 1,596 1,943
Cash flows from investing activities:    
Net change in loans receivable held for investment 15,277 23,626
Proceeds from sales of loans receivable held for sale 15,502  
Principal repayments on loans receivable held for sale 226 223
Available-for-sale securities:    
Sales   1,050
Maturities, prepayments and calls 2,096 2,114
Proceeds from sales of REO 3,293 5,914
Net redemption of Federal Home Loan Bank stock 164 188
Proceeds from sale of office properties and equipment   4,237
Additions to office properties and equipment (181) (9)
Net cash provided by investing activities 36,377 37,343
Cash flows from financing activities:    
Net change in deposits (27,706) (24,639)
Proceeds from FHLB advances 28,000 13,500
Repayments on FHLB advances (28,000) (13,500)
Net change in advance payments by borrowers for taxes and insurance (159) (108)
Net cash used in financing activities (27,865) (24,747)
Net change in cash and cash equivalents 10,108 14,539
Cash and cash equivalents at beginning of period 64,360 31,597
Cash and cash equivalents at end of period 74,468 46,136
Supplemental disclosures of cash flow information:    
Cash paid for interest 2,263 3,142
Cash paid for income taxes 4  
Supplemental disclosures of non-cash investing and financing activities:    
Transfers of loans receivable held for investment to other assets 3,174  
Transfers of loans receivable held for investment to REO 1,582 2,662
Transfers of loans receivable from loans receivable held for investment to loans receivable held for sale $ 6,174