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FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 6,842 $ 2,344
Adjustments to reconcile net income to net cash provided by operating activities:    
(Recapture of provision) provision for loan losses (4,000) 200
OREO market value adjustments 0 50
Depreciation of premises and equipment 401 260
Net amortization of premiums and discounts on investments 274 167
Deferred federal income taxes 19 81
Allocation of ESOP shares 454 553
Stock compensation expense 84 110
Increase in cash surrender value of BOLI (249) (201)
Changes in operating assets and liabilities:    
Decrease (increase) in prepaid expenses and other assets 2,517 (165)
Net increase in advance payments from borrowers for taxes and insurance 1,963 1,833
Decrease (increase) in accrued interest receivable 103 (242)
(Decrease) increase in accrued interest payable (56) 6
Increase in other liabilities 374 242
Net cash provided by operating activities 8,726 5,238
Cash flows from investing activities:    
Proceeds from calls and maturities of investments available-for-sale 2,000 26
Principal repayments on investments available-for-sale 1,601 2,790
Purchases of investments available-for-sale (15,978) (3,008)
Net decrease (increase) in loans receivable 1,524 (23,925)
Purchase (redemption) of FHLB stock 432 (71)
Purchase of premises and equipment (995) (711)
Purchase of BOLI 0 (3,180)
Net cash used by investing activities (11,416) (28,079)
Cash flows from financing activities:    
Net increase in deposits 23,727 17,231
Advances from the FHLB 140,000 0
Repayments of advances from the FHLB (156,000) 0
Proceeds from stock options exercises 98 954
Dividends paid (717) (623)
Net cash provided by financing activities 7,108 17,562
Cash and cash equivalents:    
Net decrease in cash and cash equivalents 4,418 (5,279)
Cash and cash equivalents at beginning of period 16,131 31,352
Cash and cash equivalents at end of period 20,549 26,073
Cash paid during the period for:    
Interest paid 3,185 2,130
Noncash transactions:    
Change in unrealized loss on investments available-for-sale (1,473) 377
Change in gain on cash flow hedge $ 663 $ 63