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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (4,396) $ (2,179)
Adjustments to reconcile net income to net cash provided by operating activities:    
(Recovery of) provision for loan losses (278) 130
Stock based compensation expense 34 3
Depreciation and amortization expense 579 602
Gain on sale of real estate owned, net of market value adjustment (208) (250)
Loss on redemption of equity securities, net (27) 0
Gain on sale of loans, net 23 0
Gain on sale of building (462) (52)
Amortization and accretion of loan premiums and discounts and deferred charges 375 171
Amortization and accretion of premiums and discounts — securities 355 255
Increase in accrued interest receivable (45) (145)
Decrease (increase) in other assets 1,049 (4,739)
Decrease in other liabilities (541) (473)
Net cash used in operating activities (3,488) (6,677)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of investments: Available-for-sale (58,220) 0
Proceeds from principal payments, maturities and calls of investments: Available-for-sale 6,847 3,916
Proceeds from principal payments, maturities and calls of investments: Held-to-maturity 704 998
Proceeds from redemption of equity securities 9,199 0
Originations of loans held-for-investment, net of repayments 49,545 46,768
Proceeds on sale of loans 232 1,986
Decrease in restricted cash 0 283
Redemption of FHLB-NY stock, net 1,202 403
Purchase of premises and equipment (2,861) (1,145)
Proceeds from sales of real estate owned 1,221 878
Net cash provided by investing activities 7,869 54,087
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in deposits (73,866) (18,455)
Repayment of FHLB-NY advances and other borrowings (25,000) (11,000)
Net cash used in financing activities (98,866) (29,455)
Net (decrease) increase in cash and cash equivalents (94,485) 17,955
Cash and cash equivalents at beginning of period 134,558 58,686
Cash and cash equivalents at end of period 40,073 76,641
Noncash financing and investing activities    
Transfer of Loans Held-for-sale to Portfolio Loans 0 (944)
Transfers to real estate owned 142 867
Cash paid for:    
Interest 3,983 3,305
Income taxes $ 77 $ 225