|
Net income
|
|
$12.3m
|
$11.9m
|
$24.8m
|
$46.3m
|
$47.1m
|
$44.4m
|
|
Net amortization of securities premiums and discounts, net
|
|
($3k)
|
($2k)
|
$27k
|
$20k
|
$6k
|
$5k
|
|
Depreciation
|
|
$1.1m
|
$1.1m
|
$1.2m
|
$1.2m
|
$1.2m
|
$1.2m
|
|
Deferred income tax expense (benefit)
|
|
($33k)
|
$118k
|
($1.3m)
|
($367k)
|
($467k)
|
$326k
|
|
Impairment of real estate owned
|
|
$168k
|
—
|
$540k
|
—
|
$689k
|
$222k
|
|
Loss (gain) on dispositions of premises and equipment
|
|
$61k
|
($7k)
|
($98k)
|
$18k
|
($22k)
|
$6k
|
|
(Reversal of) provision for credit losses
|
|
—
|
—
|
$439k
|
$972k
|
$740k
|
($99k)
|
|
Net accretion of deferred loan fees and costs
|
|
($165k)
|
$82k
|
$509k
|
$215k
|
($149k)
|
($372k)
|
|
Unrealized (gain) loss on equity securities
|
|
($288k)
|
$389k
|
—
|
—
|
$109k
|
($576k)
|
|
Loss on sale of real estate owned
|
|
—
|
—
|
—
|
—
|
—
|
$272k
|
|
Earnings on bank owned life insurance
|
|
($609k)
|
($600k)
|
($604k)
|
($1.0m)
|
($656k)
|
($695k)
|
|
ESOP compensation expense
|
|
$257k
|
$931k
|
$1.1m
|
$1.3m
|
$1.8m
|
$1.9m
|
|
Compensation expense related to stock options
|
|
—
|
—
|
$92k
|
$768k
|
$845k
|
$792k
|
|
Compensation expense related to restricted stock
|
|
—
|
—
|
$116k
|
$968k
|
$1.2m
|
$1.2m
|
|
Decrease (increase) in accrued interest receivable
|
|
$116k
|
($445k)
|
($4.3m)
|
($3.7m)
|
($1.2m)
|
$1.3m
|
|
Increase in other assets
|
|
$1.8m
|
$830k
|
$1.3m
|
$149k
|
($2.5m)
|
($320k)
|
|
Decrease in accounts payable - loan closing
|
|
—
|
$2.7m
|
($91k)
|
($2.6m)
|
($125k)
|
($28k)
|
|
Increase in accounts payable and accrued expenses
|
|
$97k
|
$3.6m
|
$1.8m
|
($1.2m)
|
$114k
|
$3.1m
|
|
Net increase in loans
|
|
($72.5m)
|
($166.7m)
|
($257.8m)
|
($399.4m)
|
($243.1m)
|
($43.9m)
|
|
Proceeds from sale of loans
|
|
—
|
$17.8m
|
$12.8m
|
$29.7m
|
$11.8m
|
$1.1m
|
|
Proceeds from sale of real estate owned
|
|
—
|
—
|
—
|
—
|
—
|
$273k
|
|
Principal repayments on securities held-to-maturity
|
|
$2.0m
|
$4.8m
|
$1.5m
|
$11.2m
|
$1.2m
|
$1.1m
|
|
Purchase of marketable equity securities
|
|
—
|
($10.0m)
|
—
|
($806k)
|
($4.0m)
|
($4.0m)
|
|
Purchase of securities held-to-maturity
|
|
($189k)
|
($15.3m)
|
($10.0m)
|
($806k)
|
—
|
($4.8m)
|
|
Purchase of FHLB stock
|
|
—
|
—
|
—
|
($6k)
|
($98k)
|
($688k)
|
|
Redemption of FHLB stock
|
|
—
|
—
|
$331k
|
$315k
|
$630k
|
$675k
|
|
Purchases of premises and equipment
|
|
($1.3m)
|
($6.5m)
|
($3.3m)
|
($626k)
|
($517k)
|
($1.7m)
|
|
Net (decrease) increase in deposits
|
|
($7.5m)
|
$155.5m
|
$194.8m
|
$278.1m
|
$270.3m
|
($53.5m)
|
|
Net proceeds (repayments) from borrowings
|
|
—
|
—
|
—
|
—
|
($64.0m)
|
$70.0m
|
|
Stock repurchases
|
|
—
|
—
|
($9.3m)
|
($28.7m)
|
($3.2m)
|
($1.6m)
|
|
Stock option exercised
|
|
—
|
—
|
—
|
—
|
$14k
|
—
|
|
Increase (decrease) in advance payments by borrowers for taxes and insurance
|
|
($570k)
|
($374k)
|
$485k
|
($349k)
|
($402k)
|
$734k
|
|
Recognition of right of use asset - operating
|
|
$2.7m
|
—
|
$289k
|
$4.4m
|
—
|
$1.5m
|
|
Recognition of lease liability - operating
|
|
$2.7m
|
—
|
$289k
|
$4.4m
|
—
|
$1.5m
|
|
Recognition of real estate owned
|
|
—
|
—
|
—
|
—
|
$4.4m
|
—
|
|
Sale of real estate owned
|
|
—
|
—
|
—
|
—
|
—
|
$4.4m
|
|
Net Cash Provided by Operating Activities
|
|
$15.7m
|
$21.6m
|
$27.5m
|
$42.8m
|
$48.7m
|
$52.6m
|
|
Net Cash Used in Investing Activities
|
|
($72.1m)
|
($178.9m)
|
($256.6m)
|
($357.8m)
|
($234.0m)
|
($52.0m)
|
|
Cash dividends paid
|
|
($1.0m)
|
($2.3m)
|
($6.9m)
|
($3.7m)
|
($7.9m)
|
($13.3m)
|
|
Dividends declared and not paid
|
|
$143k
|
$925k
|
$971k
|
$849k
|
$2.1m
|
$2.8m
|
|
Net Cash Provided by Financing Activities
|
|
($2.0m)
|
$240.4m
|
$172.1m
|
$288.4m
|
$194.9m
|
$2.4m
|
|
Net Increase in Cash and Cash Equivalents
|
|
($58.5m)
|
$83.1m
|
($57.0m)
|
($26.6m)
|
$9.6m
|
$2.9m
|
|
Cash and Cash Equivalents - Beginning
|
|
$69.2m
|
$152.3m
|
$95.3m
|
$68.7m
|
$78.3m
|
$81.2m
|
|
Interest paid
|
|
$10.0m
|
$5.0m
|
$8.0m
|
$34.9m
|
$56.6m
|
$52.3m
|
|
Income taxes paid: Federal
|
|
$3.4m
|
$3.6m
|
$9.2m
|
$20.7m
|
$14.0m
|
$11.0m
|
|
Income taxes paid: State and local
|
|
$3.4m
|
$3.6m
|
$9.2m
|
$20.7m
|
$8.1m
|
$4.4m
|
|
Total income taxes paid
|
|
$3.4m
|
$3.6m
|
$9.2m
|
$20.7m
|
$22.1m
|
$15.4m
|