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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net (loss) income $ (33) $ 277
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Loan loss provision (recapture) 29 (190)
Provision for losses on REOs   13
Depreciation 191 59
Reversal of valuation allowance on loan held for sale   (12)
Net amortization of deferred loan origination costs and loan premiums 59 61
Net amortization of premiums on mortgage-backed securities 9 6
Amortization of investment in affordable housing limited partnership 45 49
ESOP compensation expense 17 14
Earnings on bank owned life insurance (12) (13)
Originations of loans receivable held for sale (65,986)  
Proceeds from sales and repayments of loans receivable held for sale 20,512 24
Gain on sale of loans receivable held for sale (7)  
Change in assets and liabilities:    
Net change in deferred taxes 7 98
Net change in accrued interest receivable (126) (63)
Net change in other assets (267) (54)
Net change in advance payments by borrowers for taxes and insurance (548) (492)
Net change in accrued expenses and other liabilities (184) 366
Net cash (used in) provided by operating activities (46,169) 229
Cash flows from investing activities:    
Net change in loans receivable held for investment 16,425 (8,265)
Principal payments on available-for-sale securities 466 395
Purchase of FHLB stock (594)  
Purchase of office properties and equipment (139) (25)
Net cash provided (used in) by investing activities 16,158 (7,895)
Cash flows from financing activities:    
Net change in deposits 35,425 5,240
Proceeds from FHLB advances 55,000 10,000
Repayments on FHLB advances (24,000) (5,000)
Repayments of junior subordinated debentures (255)  
Net cash provided by financing activities 66,170 10,240
Net change in cash and cash equivalents 36,159 2,574
Cash and cash equivalents at beginning of the period 15,566 16,651
Cash and cash equivalents at end of the period 51,725 19,225
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,747 1,375
Supplemental disclosures of non-cash investing and financing activities:    
Transfers of loans receivable held for sale to loans receivable held for investment   1,064
Stock cancelled for payment of tax withholding   14
Initial Recognition of Operating Lease Right-of-Use Assets   1,120
Initial Recognition of Operating Lease Liabilities   1,120
Employees, excluding Directors    
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Stock-based compensation expense 80 34
Directors    
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Stock-based compensation expense $ 45 $ 52