XML 78 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income (Loss) $ 19,423 $ 2,633 $ (31,657) [1]
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 1,898 1,877 2,013
Mortgage servicing rights valuation adjustment 1   (1)
Provision for (recapture of) loan losses (3,700) 900 29,350
Provision (benefit) for deferred income taxes (15,100)   8,536
Noncash expense related to ESOP 68 42 62
Increase (decrease) in deferred loan origination fees, net of amortization 102 (333) (76)
Origination of loans held for sale (24,413) (29,121) (5,916)
Proceeds from sales of loans held for sale 24,718 29,484 5,682
Stock based compensation expense 78 2 12
Writedown of real estate owned 2,056 4,974 4,238
Net (gain) loss on loans held for sale, sale of real estate owned, mortgage-backed securities, investment securities and premises and equipment (640) (1,056) 400
Income from bank owned life insurance (553) (585) (601)
Changes in assets and liabilities:      
Prepaid expenses and other assets 45 2,963 (627)
Accrued interest receivable (89) 411 365
Accrued expenses & other liabilities 2,637 (1,189) 222
Net cash provided by (used in) operating activities 6,531 11,002 12,002
CASH FLOWS FROM INVESTING ACTIVITIES:      
Loan repayments (originations), net 24,044 102,784 (26,482)
Purchase of loans receivable (22,082)    
Proceeds from sale of loans   31,394  
Proceeds from call, maturity, or sale of investment securities available for sale 3,000 5,000 5,000
Principal repayments on investment securities available for sale 847 357 392
Purchase of investment securities available for sale (19,948) (5,000) (5,000)
Principal repayments on mortgage-backed securities available for sale 2,669 524 789
Principal repayments on mortgage-backed securities held to maturity 24 46 19
Principal repayments on investment securities held to maturity   493 13
Purchase of mortgage-backed securities available for sale (81,566)    
Purchase of premises and equipment and capitalized software (835) (2,141) (2,578)
Redemption (purchase) of certificates of deposit held for investment 7,710 (3,162) (26,573)
Proceeds from redemption of Federal Home Loan Bank stock 410 196  
Capitalized improvements related to real estate owned   (72) (207)
Proceeds from sale of real estate owned and premises and equipment 7,347 8,098 9,275
Net cash provided by (used in) investing activities (78,380) 138,517 (45,352)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase (decrease) in deposit accounts 26,260 (80,649) 27,925
Purchase of subsidiary shares from noncontrolling interest (612)    
Proceeds from borrowings 3,000 9,000 5,000
Repayment of borrowings (3,000) (9,000) (5,000)
Principal payments under capital lease obligation (79) (73) (54)
Net increase (decrease) in advance payments by borrowers (558) 225 120
Net cash provided by (used in) financing activities 25,011 (80,497) 27,991
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (46,838) 69,022 (5,359)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 115,415 46,393 51,752
CASH AND CASH EQUIVALENTS, END OF PERIOD 68,577 115,415 46,393
Cash paid during the period for:      
Interest 1,974 2,689 4,400
Income taxes 31 4 830
NONCASH INVESTING AND FINANCING ACTIVITIES:      
Transfer of loans to real estate owned 6,331 14,075 6,843
Transfer of real estate owned to loans 4,946 3,859 1,859
Fair value adjustment to securities available for sale 555 239 372
Income tax effect related to fair value adjustment $ (189) $ (81) $ (126)
[1] For the year ended March 31, 2012 the Company recognized a net loss and therefore all outstanding stock options were excluded from the calculation of diluted earnings per share because they were antidilutive.