XML 50 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Provident Financial Holdings, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net income $ 20,540 $ 6,504
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,261 1,122
Provision for loan losses 39 3,726
Recovery of losses on real estate owned (118) (580)
Gain on sale of loans, net (52,308) (23,311)
(Gain) loss on sale of real estate owned, net (1,067) 12
Stock-based compensation 396 1,117
Increase in current and deferred income taxes (1,277) (292)
Tax benefit from non-qualified equity compensation (85) 0
Increase in cash surrender value of bank owned life insurance (141) (142)
Increase in accounts payable and other liabilities 1,613 2,220
Decrease in prepaid expenses and other assets 1,005 906
Loans originated for sale (2,659,372) (1,780,636)
Proceeds from sale of loans 2,766,054 1,811,710
Net cash provided by operating activities 76,540 22,356
Cash flows from investing activities:    
Decrease in loans held for investment, net 34,871 39,101
Principal payments from investment securities available for sale 2,329 2,671
Redemption of FHLB - San Francisco stock 5,028 3,566
Proceeds from sale of real estate owned 11,910 15,769
Purchase of premises and equipment (894) (1,984)
Net cash provided by investing activities 53,244 59,123
Cash flows from financing activities:    
(Decrease) increase in deposits, net (26,311) 29,036
Repayments of long-term borrowings (20,041) (60,038)
Exercise of stock options 296 72
Tax benefit from non-qualified equity compensation 85 0
Cash dividends paid (1,816) (1,134)
Treasury stock purchases (6,811) (4,958)
Net cash used for financing activities (54,598) (37,022)
Net increase in cash and cash equivalents 75,186 44,457
Cash and cash equivalents at beginning of period 145,136 142,550
Cash and cash equivalents at end of period 220,322 187,007
Supplemental information:    
Cash paid for interest 8,442 11,987
Cash paid for income taxes 14,145 5,110
Transfer of loans held for sale to held for investment 3,527 1,545
Real estate owned acquired in the settlement of loans $ 9,250 $ 19,327