|
COMMUNITY FINANCIAL CORPORATION -- CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
|
6 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| OPERATING ACTIVITIES |
|
|
| Net income |
$ 1,558,982 |
$ 1,257,176 |
| Adjustments to reconcile net income to net cash provided by operating activities |
|
|
| Provision for loan losses |
1,987,548 |
1,829,275 |
| Losses/impairment on foreclosed assets |
1,911,224 |
1,105,538 |
| Depreciation |
293,857 |
319,357 |
| Decrease in net deferred loan fees |
(7) |
(15,499) |
| Deferred income tax (benefit) |
(653,730) |
(60,147) |
| (Increase) decrease in other assets |
(961,023) |
69,670 |
| (Decrease) increase in other liabilities |
(98,995) |
276,440 |
| Net cash provided by operating activities |
4,037,856 |
4,781,810 |
| INVESTING ACTIVITIES |
|
|
| Proceeds from maturities of held to maturity securities |
10,000,000 |
3,000,000 |
| Purchase of held to maturity securities |
(19,227,732) |
(2,749,000) |
| Net decrease in loans |
14,437,005 |
8,152,750 |
| Purchases of property and equipment |
(38,436) |
(149,864) |
| Redemption of FHLB stock |
1,201,000 |
220,000 |
| Improvement to real estate owned |
(70,990) |
(171,348) |
| Proceeds from sale of real estate owned |
4,987,950 |
4,760,517 |
| Net cash provided by investing activities |
11,288,797 |
13,063,022 |
| FINANCING ACTIVITIES |
|
|
| Dividends paid |
(316,075) |
(316,075) |
| Net Increase (decrease) in deposits |
2,091,910 |
(9,747,864) |
| (Repayment of) advances and other borrowed money |
(21,000,000) |
(4,765,352) |
| Net cash (used in) financing activities |
(19,224,165) |
(14,829,291) |
| INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS |
(3,897,512) |
3,015,541 |
| CASH AND CASH EQUIVALENTS - beginning of period |
8,233,185 |
7,897,955 |
| CASH AND CASH EQUIVALENTS - end of period |
4,335,673 |
10,916,496 |
| Supplemental Schedule of Non-Cash Investing and Financing Activities |
|
|
| Transfers from loans to real estate acquired through foreclosure |
$ 969,780 |
$ 5,917,249 |