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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Jun. 30, 2018
USD ($)
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Cash Flows From Operating Activities:      
NET INCOME $ 20,929 $ 15,552 $ 14,848
Items not requiring (providing) cash:      
Depreciation 3,119 2,982 2,513
(Gain) loss on disposal of fixed assets (206) 332 74
Stock option and stock grant expense 230 510 385
(Gain) loss on sale/write-down of REO (45) 324 20
Amortization of intangible assets 1,457 911 1,025
Amortization of purchase accounting adjustments (1,694) (1,116) (1,803)
Increase in cash surrender value of bank owned life insurance (BOLI) (947) (1,135) (928)
Provision for loan losses 3,047 2,340 2,494
Gains realized on sale of AFS securities (334) 0 (5)
Net amortization of premiums and discounts on securities 994 1,034 827
Originations of loans held for sale (29,749) (33,059) (22,898)
Proceeds from sales of loans held for sale 29,410 33,656 22,116
Gain on sales of loans held for sale (804) (840) (641)
Accrued interest receivable (797) (314) (344)
Prepaid expenses and other assets 7,852 2,717 379
Accounts payable and other liabilities (309) 622 (812)
Deferred income taxes (1,774) 964 475
Accrued interest payable 265 138 (57)
NET CASH PROVIDED BY OPERATING ACTIVITIES 30,644 25,618 17,668
Cash flows from investing activities:      
Net increase in loans (99,510) (112,372) (82,544)
Net change in interest-bearing deposits 249 723 1,221
Proceeds from maturities of available for sale securities 24,981 22,544 23,878
Proceeds from sales of available for sale securities 18,198 0 6,251
Net (purchases) redemptions of Federal Home Loan Bank stock (1,756) 2,462 (1,882)
Net purchases of Federal Reserve Bank of St. Louis stock (1,209) (14) (3)
Purchases of available-for-sale securities (44,051) (31,490) (29,295)
Purchases of premises and equipment (2,138) (3,034) (9,818)
Purchases of BOLI 0 0 (10,000)
Cash (paid for) received in acquisitions (1,501) (1,736) 0
Investments in state & federal tax credits (5,086) (1,897) (352)
Proceeds from sale of fixed assets 1,970 15 14
Proceeds from sale of foreclosed assets 1,374 835 1,663
Proceeds from BOLI claim 0 848 549
NET CASH USED IN INVESTING ACTIVITIES (108,479) (123,116) (100,318)
Cash flows from financing activities:      
Net increase in demand deposits and savings accounts 82,567 115,340 68,952
Net (decrease) increase in certificates of deposits (26,392) 52,939 (3,315)
Net decrease in securities sold under agreements to repurchase (6,945) (16,873) (247)
Proceeds from Federal Home Loan Bank advances 1,518,930 1,350,565 396,100
Repayments of Federal Home Loan Bank advances (1,491,130) (1,416,815) (350,350)
Proceeds from issuance of long term debt 0 15,000 0
Repayments of long term debt 0 (15,650) 0
Redemption of preferred stock 0 0 (20,000)
Common stock issued 0 24,144 0
Exercise of stock options 172 61 99
Dividends paid on preferred stock 0 0 (135)
Dividends paid on common stock (3,827) (2,981) (2,675)
NET CASH PROVIDED BY FINANCING ACTIVITIES 73,375 105,730 88,429
(Decrease) increase in cash and cash equivalents (4,460) 8,232 5,779
Cash and cash equivalents at beginning of period 30,786 22,554 16,775
Cash and cash equivalents at end of period 26,326 30,786 22,554
Noncash investing and financing activities:      
Conversion of loans to foreclosed real estate 1,905 890 537
Conversion of foreclosed real estate to loans 112 128 185
Conversion of loans to repossessed assets 54 130 194
Cash paid during the period for      
Interest (net of interest credited) 3,021 3,132 3,020
Income taxes $ 1,589 $ 3,132 $ 4,695