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FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 3,827,000 $ 5,249,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (recapture of provision) for loan losses 600,000 (400,000)
OREO market value adjustments 0 29,000
Net amortization of premiums and discounts on investments 430,000 401,000
(Gain) loss on sale of investments available-for-sale 69,000 (8,000)
Depreciation of premises and equipment 1,099,000 862,000
Deferred federal income taxes 162,000 214,000
Allocation of ESOP shares 643,000 887,000
Stock compensation expense 142,000 231,000
BOLI income 509,000 425,000
Changes in operating assets and liabilities:    
Decrease (increase) in prepaid expenses and other assets 349,000 (895,000)
Increase in ROU (763,000) (1,609,000)
Decrease in advance payments from borrowers for taxes and insurance (446,000) (89,000)
Increase in accrued interest receivable (843,000) (582,000)
Increase in lease liability 791,000 1,633,000
Decrease in accrued interest payable (67,000) (17,000)
Decrease in other liabilities (580,000) (1,571,000)
Net cash provided by operating activities 4,766,000 3,926,000
Cash flows from investing activities:    
Proceeds from sales, calls and maturities of investments available-for-sale 9,567,000 2,995,000
Principal repayments on investments available-for-sale 6,152,000 2,604,000
Purchases of investments available-for-sale (6,928,000) (3,012,000)
Net increase in loans receivable (30,381,000) (29,372,000)
Net sale of FHLB stock 599,000 1,609,000
Purchase of premises and equipment (855,000) (1,475,000)
Purchase of BOLI (70,000) (1,457,000)
Net cash used by investing activities (24,311,000) (28,108,000)
Cash flows from financing activities:    
Net increase in deposits 92,634,000 86,678,000
Advances from the FHLB 218,000,000 162,500,000
Purchase of investments held-to-maturity (2,395,000) 0
Repayments of advances from the FHLB (235,700,000) (204,000,000)
Net share settlement of stock awards (73,000) (93,000)
Repurchase and retirement of common stock (2,401,000) (5,512,000)
Dividends paid (1,967,000) (1,703,000)
Net cash provided by financing activities 70,493,000 37,870,000
Cash and cash equivalents:    
Net decrease in cash and cash equivalents 50,948,000 13,688,000
Cash and cash equivalents at beginning of period 22,990,000 17,010,000
Cash and cash equivalents at end of period 73,938,000 30,698,000
Cash paid during the period for:    
Interest paid 8,913,000 9,895,000
Noncash transactions:    
Change in unrealized loss on investments available-for-sale 1,425,000 2,407,000
Change in gain on cash flow hedge (4,607,000) (1,212,000)
Initial recognition of ROU 1,089,000 1,853,000
Initial recognition of lease liability 1,089,000 1,853,000
Settlement Receivable 0 277,000
Income Taxes Paid $ 0 $ 1,435,000