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RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
9 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 4,953 $ 2,973
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 2,395 2,394
Provision for (recapture of) loan losses (800) (1,050)
Provision (benefit) for deferred income taxes 2,265 1,490
Expense related to ESOP 84 73
Increase (decrease) in deferred loan origination fees, net of amortization 400 73
Origination of loans held for sale (12,536) (13,130)
Proceeds from sales of loans held for sale 13,198 13,734
Stock based compensation expense   26
Writedown of real estate owned 323 715
Net (gain) loss on loans held for sale, sale of real estate owned, mortgage-backed securities, investment securities and premises and equipment (265) (501)
Income from bank owned life insurance (580) (528)
Changes in assets and liabilities:    
Prepaid expenses and other assets (30) 74
Accrued interest receivable (290) (187)
Accrued expenses & other liabilities (909) (944)
Net cash provided by (used in) operating activities 8,208 5,212
CASH FLOWS FROM INVESTING ACTIVITIES:    
Loan repayments (originations), net (15,948) (23,335)
Purchase of loans receivable (15,618) (22,545)
Principal repayments on investment securities available for sale 16,599 13,660
Principal repayments on investment securities held to maturity 9 13
Purchase of investment securities available for sale (60,679) (52,199)
Proceeds from call, maturity, or sale of investment securities available for sale   22,705
Redemption (purchase) of certificates of deposit held for investment 8,208 9,711
Proceeds from redemption of Federal Home Loan Bank stock 4,936 624
Purchase of Bank owned life insurance   (6,500)
Purchase of premises and equipment and capitalized software (281) (367)
Proceeds from sale of real estate owned and premises and equipment 744 5,392
Net cash provided by (used in) investing activities (62,030) (52,841)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposit accounts 26,715 (736)
Purchase of subsidiary shares from noncontrolling interest (1,502)  
Dividends Paid (868)  
Proceeds from borrowings 3,100 25,450
Repayment of borrowings (3,100) (23,350)
Principal payments on capital lease obligations (38) (63)
Net increase (decrease) in advance payments by borrowers (239) (268)
Proceeds from exercise of stock options 62  
Net cash provided by (used in) financing activities 24,130 1,033
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (29,692) (46,596)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 58,659 68,577
CASH AND CASH EQUIVALENTS, END OF PERIOD 28,967 21,981
Cash paid during the period for:    
Interest 1,180 5,048
Income taxes 199 15
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Dividends declared and accrued in other liabilities 393  
Transfer of loans to real estate owned   804
Transfer of real estate owned to loans   726
Adjustment to capital lease obligations and premises and equipment due to lease modification 241  
Unrealized holding gain (loss) on securities available for sale (1,489) 1,305
Income tax effect related to fair value adjustment $ 511 $ (443)