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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 5,216 $ 5,291  
Adjustments to reconcile net income to net cash provided by operating activities:      
Net decrease (increase) in deferred loan costs 163 (80)  
Depreciation 521 426  
Accretion (200) (218)  
Amortization 1,335 1,972  
Stock-based compensation 143 74  
(Reversal of) provision for credit losses (25) 0  
Net realized gains on sales of available-for-sale investment securities (1,052) (815)  
Net change in equity securities (92) 0  
Increase in bank-owned life insurance, net of expenses (171) (171)  
Net (increase) decrease in accrued interest receivable and other assets (8,420) 1,489  
Net increase (decrease) in accrued interest payable and other liabilities 9,702 (2,265)  
Deferred income tax (benefit) expense (218) 646  
Net cash provided by operating activities 6,902 6,349  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of available-for-sale investment securities (65,253) (92,189)  
Proceeds from sales or calls of available-for-sale investment securities 52,985 69,315  
Proceeds from maturity and principal repayments of available-for-sale investment securities 6,051 10,688  
Net increase in loans (3,239) (16,720)  
Purchases of premises and equipment (133) (457)  
Purchases of bank-owned life insurance 1,000 0  
Net cash used in investing activities (10,589) (29,363)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase (decrease) in demand, interest bearing and savings deposits 9,167 (27,615)  
Net increase (decrease) in time deposits 1,099 (7,161)  
Proceeds from short-term borrowings from Federal Home Loan Bank 14,000 0  
Repayments of short-term borrowings to Federal Home Loan Bank (17,000) 0  
Proceeds of borrowings from other financial institutions 1,370 0  
Repayments of borrowings from other financial institutions (1,370) 0  
Purchase and retirement of common stock 1,874   $ 0
Proceeds from stock issued under employee stock purchase plan 80 43  
Proceeds from exercise of stock options 95 549  
Cash dividend payments on common stock (1,372) (962)  
Net cash provided by (used in) financing activities 4,195 (35,146)  
Increase (decrease) in cash and cash equivalents 508 (58,160)  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 31,727 100,383  
CASH AND CASH EQUIVALENTS AT END OF PERIOD 32,235 42,223  
Cash paid during the period for:      
Interest 425 297  
Income taxes 0 180  
Operating cash flows from operating leases 545 0  
Non-cash investing and financing activities:      
Initial recognition of operating lease right-of-use assets 10,129 0  
Purchases of available-for-sale investment securities, not yet settled $ 1,816 $ 0