| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
2,592 | 3,489 | - | - | - | - | |
Net income | ||||||
- | - | 1,628 | -965 | 222 | 1,148 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Provision for loan losses | ||||||
435 | 475 | 496 | 432 | 567 | 1,109 | |
Loans originated for sale | ||||||
211,976 | 219,069 | 171,486 | 134,805 | 166,580 | 171,182 | |
Loans sold | ||||||
228,347 | 218,991 | 166,102 | 134,914 | 170,672 | 172,224 | |
Gain on sale of mortgage loans, net | ||||||
4,291 | 4,127 | 2,573 | 2,575 | - | - | |
Loss on loans held for sale transferred to portfolio | ||||||
- | - | - | - | -28 | - | |
Gain on sale of portfolio loans | ||||||
- | - | 328 | - | 159 | 574 | |
Amortization of deferred loan costs | ||||||
-1,008 | -1,076 | -818 | -678 | -532 | -485 | |
Provision on foreclosed real estate | ||||||
-1 | -96 | -126 | -129 | -231 | -126 | |
Loss on real estate held for sale | ||||||
- | -11 | - | - | - | - | |
Gain on sale of premises and equipment | ||||||
- | - | - | 15 | 8 | - | |
Impairment loss on real estate held for sale | ||||||
- | - | 581 | 1,099 | - | - | |
Impairment loss on real estate held for sale | ||||||
- | - | - | - | 482 | - | |
Depreciation and amortization expense | ||||||
1,448 | 1,326 | 1,277 | 1,108 | 959 | 798 | |
Income from Bank-owned life insurance | ||||||
133 | 126 | 135 | 132 | 59 | - | |
Deferred income tax expense (benefit) | ||||||
-147 | -106 | 255 | - | - | - | |
Deferred income tax expense (benefit) | ||||||
- | - | - | -578 | -626 | 526 | |
Issuance of common stock to Coastway Cares Charitable Foundation II | ||||||
- | - | - | 1,221 | - | - | |
ESOP expense | ||||||
305 | 206 | 179 | 168 | - | - | |
Stock-based compensation | ||||||
196 | 126 | - | - | - | - | |
Net change in: | ||||||
Accrued interest receivable | ||||||
364 | 184 | 161 | 159 | 46 | 5 | |
Prepaid FDIC insurance assessment | ||||||
- | - | - | - | -336 | -272 | |
Other, net | ||||||
-1,193 | -3,201 | -327 | 1,324 | 453 | 433 | |
Net cash provided (used) by operating activities | ||||||
18,614 | 5,385 | - | - | - | - | |
Cash flows from investing activities: | ||||||
Purchase of FHLB stock | ||||||
2,953 | 2,477 | 2,076 | 844 | - | - | |
Net cash provided by operating activities | ||||||
- | - | -2,894 | -804 | 6,098 | 4,494 | |
Purchase of and increase in certificates of deposit | ||||||
- | 25 | 3,058 | 3,016 | - | - | |
Maturities of certificates of deposit | ||||||
- | 6,099 | - | - | - | - | |
Redemption of FHLB stock | ||||||
838 | 1,576 | - | - | - | - | |
Proceeds from redemption of FHLB stock | ||||||
- | - | - | -331 | -342 | -372 | |
Purchase of Bank-owned life insurance | ||||||
- | - | - | - | 4,000 | - | |
Loan originations, net of principal payments | ||||||
50,404 | 42,569 | 32,008 | 45,222 | 36,503 | 38,033 | |
Purchase of loans from third party originators | ||||||
44,416 | 17,807 | 57,383 | 12,066 | - | - | |
Purchases of premises and equipment | ||||||
1,871 | 1,345 | 801 | 10,749 | 4,259 | 4,332 | |
Proceeds from portfolio loans sold | ||||||
- | - | 4,492 | - | 4,590 | 8,357 | |
Proceeds from sale of real estate held for sale | ||||||
- | 3,294 | - | - | - | - | |
Proceeds from sale of real estate held for sale | ||||||
- | - | - | 1,887 | - | - | |
Proceeds from sale of foreclosed real estate | ||||||
421 | 825 | 1,248 | 1,130 | 1,053 | 385 | |
Net cash used by investing activities | ||||||
-98,385 | -52,429 | - | - | - | - | |
Cash flows from financing activities: | ||||||
Net cash used in investing activities | ||||||
- | - | -89,586 | -68,549 | -38,777 | -33,251 | |
Net increase in deposits | ||||||
29,642 | 73,795 | 29,975 | 13,628 | 22,123 | 24,837 | |
Net change in short-term borrowed funds | ||||||
60,425 | 4,000 | 69,000 | 20,500 | 13,000 | 7,000 | |
Increase in long-term borrowed funds | ||||||
- | 1,750 | - | - | - | - | |
Restricted stock forfeited for tax withholdings | ||||||
52 | - | - | - | - | - | |
Repayments of long-term borrowed funds | ||||||
- | - | 1,300 | 700 | 1,343 | 1,426 | |
Repurchase of common stock | ||||||
333 | 6,165 | 1,455 | - | - | - | |
Net cash provided by financing activities | ||||||
89,682 | 73,380 | - | - | - | - | |
Net change in cash and cash equivalents | ||||||
9,911 | 26,336 | - | - | - | - | |
Issuance of common stock for initial public offering | ||||||
- | - | - | 46,345 | - | - | |
Stock subscriptions received | ||||||
- | - | - | -43,398 | 43,398 | - | |
Purchase of common stock by ESOP | ||||||
- | - | - | 3,959 | - | - | |
Net cash provided (used) by financing activities | ||||||
- | - | 96,220 | 32,416 | 77,178 | 30,411 | |
Net change in cash and cash equivalents | ||||||
- | - | 3,740 | -36,937 | 44,499 | 1,654 | |
Supplemental cash flow information: | ||||||
Interest paid on deposits | ||||||
2,951 | 2,110 | 2,038 | 2,304 | 2,498 | 2,505 | |
Interest paid on borrowed funds | ||||||
1,445 | 660 | 177 | 94 | 135 | 149 | |
Income taxes paid | ||||||
2,946 | 2,500 | - | - | - | - | |
Income taxes paid | ||||||
- | - | 596 | 202 | 602 | 652 | |
Loans transferred to foreclosed real estate | ||||||
3,999 | 633 | 799 | 964 | 270 | 1,235 | |
Real estate transferred from premises and equipment to real estate held for investment | ||||||
- | - | 55 | 3,302 | - | 1,354 | |
Loans held for sale transferred to portfolio loans | ||||||
- | - | - | - | 874 | - | |
Real estate transferred from real estate held for investment to real estate held for sale | ||||||
- | - | - | - | 1,354 | - | |
Real estate transferred from real estate held for investment to real estate held for sale | ||||||
- | - | - | - | 2,643 | - | |
Change in other comprehensive income | ||||||
- | - | - | - | - | -25 | |