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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (61) $ (137)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Loan loss provision (recapture) 29 (301)
Provision for losses on REOs 0 13
Depreciation 170 171
Net amortization of deferred loan origination costs 183 160
Net amortization of premiums on mortgage-backed securities 30 19
Amortization of investment in affordable housing limited partnership 79 134
ESOP compensation expense 50 47
Earnings on bank owned life insurance (35) (39)
Originations of loans receivable held for sale (118,626) (15,182)
Proceeds from sales of loans receivable held for sale 77,642 22,970
Repayments on loans receivable held for sale 530 103
Gain on sale of loans receivable held for sale (199) (204)
Change in assets and liabilities:    
Net change in deferred taxes (175) (209)
Net change in accrued interest receivable (102) (39)
Net change in other assets 15 5
Net change in advance payments by borrowers for taxes and insurance 508 473
Net change in accrued expenses and other liabilities (125) 322
Net cash (used in) provided by operating activities (39,763) 8,540
Cash flows from investing activities:    
Net change in loans receivable held for investment 35,843 (8,735)
Principal payments on available-for-sale securities 1,744 1,450
Purchases of available-for-sale municipal bonds (850) 0
Proceeds from sales of REO 0 820
Purchase of FHLB stock (670) 0
Purchase of office properties and equipment (501) (33)
Net cash provided by (used in) investing activities 35,566 (6,498)
Cash flows from financing activities:    
Net change in deposits 27,612 (1,347)
Proceeds from FHLB advances 66,000 13,000
Repayments on FHLB advances (34,500) (8,000)
Payment for tax withholding for vesting of restricted stock 0 (14)
Repayments of junior subordinated debentures (765) (510)
Net cash provided by financing activities 58,347 3,129
Net change in cash and cash equivalents 54,150 5,171
Cash and cash equivalents at beginning of the period 15,566 16,651
Cash and cash equivalents at end of the period 69,716 21,822
Supplemental disclosures of cash flow information:    
Cash paid for interest 4,530 4,710
Cash paid for income taxes 8 13
Supplemental disclosures of non-cash investing and financing:    
Transfers of loans receivable held for sale to loans receivable held for investment 0 1,064
Transfers of loans receivable held for investment to loans receivable held for sale 0 10,684
Common stock exchanged for payment of tax withholding 0 14
Initial Recognition of Operating Lease Right-of-Use Assets 0 1,120
Initial Recognition of Operating Lease Liabilities 0 1,120
Directors [Member]    
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Stock-based compensation expense 45 52
Employees, excluding Directors [Member]    
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Stock-based compensation expense $ 279 $ 182