|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net income |
$ 422 |
$ 428 |
| Adjustments to reconcile net income to net cash from operating activities: |
|
|
| Provision for loan losses |
235 |
258 |
| Provision for OREO valuation losses |
68 |
|
| Depreciation |
189 |
193 |
| Net amortization of marketable securities premium and discounts |
111 |
94 |
| Amortization of capitalized mortgage servicing rights |
187 |
93 |
| Gain on sale of loans |
(812) |
(236) |
| Net realized gain on sale of available-for-sale securities |
(67) |
(57) |
| Increase in cash surrender value of life insurance |
(75) |
(55) |
| Loss on sale of OREO |
17 |
|
| (Gain)/loss fair value hedge, FASB ASC 815 |
(37) |
330 |
| (Increase) decrease in assets: |
|
|
| Accrued interest and dividends receivable |
19 |
10 |
| Loans held-for-sale |
2,251 |
(1,095) |
| Other assets |
(227) |
602 |
| Increase (decrease) in liabilities: |
|
|
| Accrued expenses and other liabilities |
510 |
843 |
| Net cash provided by (used in) operating activities |
2,791 |
1,408 |
| Purchase of securities: |
|
|
| Investment securities available-for-sale |
(14,153) |
(2,682) |
| Proceeds from maturities, calls and principal payments: |
|
|
| Investment securities available-for-sale |
4,811 |
1,829 |
| Purchase of bank owned life insurance |
|
(2,000) |
| Proceeds from sale of securities available-for-sale |
574 |
1,876 |
| FHLB stock redeemed |
18 |
|
| Proceeds from sale of property and equipment |
|
|
| Net (increase) decrease in loan receivable, excludes transfers to real estate acquired in settlement of loans |
5,874 |
(1,229) |
| Proceeds from the sale of real estate acquired in the settlement of loans |
582 |
|
| Purchase of property and equipment |
(156) |
(60) |
| Net cash provided by (used in) investing activities |
(2,450) |
(2,266) |
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Net increase in checking and savings accounts |
912 |
4,434 |
| Payments on FHLB advances |
(9,050) |
(2,050) |
| Purchase of Treasury Stock |
|
(185) |
| Dividends paid |
(277) |
(278) |
| Net cash (used in) provided by financing activities |
(8,415) |
1,921 |
| Net (decrease) increase in cash |
(8,074) |
1,063 |
| CASH AND CASH EQUIVALENTS, beginning of period |
19,814 |
9,540 |
| CASH AND CASH EQUIVALENTS, end of period |
11,740 |
10,603 |
| SUPPLEMENTAL CASH FLOW INFORMATION: |
|
|
| Cash paid during the period for interest |
629 |
898 |
| Cash paid during the period for income taxes |
|
|
| NON-CASH INVESTING ACTIVITIES: |
|
|
| Decrease (increase) in market value of securities available-for-sale |
(252) |
1,248 |
| Mortgage servicing rights capitalized |
319 |
84 |
| ESOP shares released |
43 |
43 |
| Loans transferred to real estate and other assets acquired in foreclosure |
$ 243 |
$ 122 |