XML 56 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Provident Financial Holdings, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income $ 7,318us-gaap_NetIncomeLoss $ 4,515us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash (used for) provided by operating activities:    
Depreciation and amortization 1,479us-gaap_DepreciationAndAmortization 1,217us-gaap_DepreciationAndAmortization
Recovery from the allowance for loan losses (1,283)us-gaap_ProvisionForLoanLossesExpensed (2,689)us-gaap_ProvisionForLoanLossesExpensed
Recovery from the allowance for losses on real estate owned (10)us-gaap_RealEstateOwnedValuationAllowanceProvision1 (20)us-gaap_RealEstateOwnedValuationAllowanceProvision1
Gain on sale of loans, net (25,448)us-gaap_GainLossOnSalesOfLoansNet (17,777)us-gaap_GainLossOnSalesOfLoansNet
Gain on sale of real estate owned, net (101)us-gaap_GainsLossesOnSalesOfOtherRealEstate (242)us-gaap_GainsLossesOnSalesOfOtherRealEstate
Stock-based compensation 904us-gaap_ShareBasedCompensation 387us-gaap_ShareBasedCompensation
Benefit for deferred income taxes (60)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (967)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Tax effect from stock based compensation 11us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities 122us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Increase (decrease) in accounts payable and other liabilities 1,650us-gaap_IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities (3,646)us-gaap_IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
Decrease (increase) in prepaid expenses and other assets 1,511us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,160)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Loans originated for sale (1,760,039)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale (1,490,402)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale
Proceeds from sale of loans 1,634,865us-gaap_ProceedsFromSaleOfLoansReceivable 1,606,463us-gaap_ProceedsFromSaleOfLoansReceivable
Net cash (used for) provided by operating activities (139,203)us-gaap_NetCashProvidedByUsedInOperatingActivities 95,801us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Increase in loans held for investment, net (48,647)us-gaap_IncreaseDecreaseInRestrictedCashAndInvestments (22,731)us-gaap_IncreaseDecreaseInRestrictedCashAndInvestments
Principal payments from investment securities available for sale 1,628us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesMBS 2,285us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfMortgageBackedSecuritiesMBS
Purchase of investment securities available for sale (250)us-gaap_PaymentsToAcquireAvailableForSaleSecurities 0us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Purchase of FHLB San Francisco stock (676)us-gaap_PaymentsToAcquireFederalHomeLoanBankStock 0us-gaap_PaymentsToAcquireFederalHomeLoanBankStock
Redemption of FHLB – San Francisco stock 0us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock 6,593us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock
Proceeds from sale of real estate owned 1,474us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans 3,655us-gaap_ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
Purchase of premises and equipment (334)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (592)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used for investing activities (46,805)us-gaap_NetCashProvidedByUsedInInvestingActivities (10,790)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Increase (decrease) in deposits, net 20,030us-gaap_IncreaseDecreaseInDeposits (15,504)us-gaap_IncreaseDecreaseInDeposits
Proceeds from short-term borrowings, net 60,000us-gaap_ProceedsFromRepaymentsOfShortTermDebt 0us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Proceeds from long-term borrowings 30,000us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayments of long-term borrowings (47)us-gaap_RepaymentsOfLongTermDebt (55,044)us-gaap_RepaymentsOfLongTermDebt
Exercise of stock options 28us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised 362us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised
Tax effect from stock based compensation (11)us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities (122)us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Cash dividends (3,014)us-gaap_PaymentsOfDividends (3,016)us-gaap_PaymentsOfDividends
Treasury stock purchases (9,240)us-gaap_PaymentsForRepurchaseOfCommonStock (12,057)us-gaap_PaymentsForRepurchaseOfCommonStock
Net cash provided by (used for) financing activities 97,746us-gaap_NetCashProvidedByUsedInFinancingActivities (85,381)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net decrease in cash and cash equivalents (88,262)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (370)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period   118,937us-gaap_CashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 30,675us-gaap_CashEquivalentsAtCarryingValue 193,469us-gaap_CashEquivalentsAtCarryingValue
Supplemental information:    
Cash paid for interest 4,629us-gaap_InterestPaid 6,056us-gaap_InterestPaid
Cash paid for income taxes 3,875us-gaap_IncomeTaxesPaid 6,216us-gaap_IncomeTaxesPaid
Transfer of loans held for sale to held for investment 2,824us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1 3,980us-gaap_TransferOfLoansHeldForSaleToPortfolioLoans1
Real estate acquired in the settlement of loans $ 2,572us-gaap_RealEstateAcquisitionsThroughForeclosures $ 4,178us-gaap_RealEstateAcquisitionsThroughForeclosures