Lake shore bancorp, inc. (LSBK)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
CASH FLOWS FROM OPERATING ACTIVITIES
Net income

4,087

4,000

3,378

3,515

3,338

3,158

3,743

3,626

3,680

3,043

2,161

Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization of investment securities

-48

-83

-110

-180

-283

-303

-488

-558

-124

-

217

Net amortization of deferred loan costs

-598

-576

-622

-569

-552

-462

-518

-550

-517

-505

-473

Provision for loan losses

900

390

510

1,125

400

222

105

656

415

2,115

265

Impairment of investment securities

-

-

-

-

-

-

180

102

-

-

-

Impairment of equity investment in unconsolidated entity

-

-

-

-

-

-

-

-

500

-

-

Recovery on previously impaired investment securities

54

145

135

142

160

175

3

-

57

142

-

Unrealized loss (gain) on equity securities

43

2

-

-

-

-

-

-

-

-

-

Gain on sale of investment securities

-

-

244

1,636

440

59

206

64

31

1,057

-

Unrealized loss on interest rate swap

-80

-47

-

-

-

-

-

-

-

-

-

Loss on sale of interest rate floor derivative product

-

-

-

-

-

-

-

-

-

-

135

Originations of loans held for sale

3,248

944

1,069

5,022

9,450

1,737

1,436

767

639

243

6,300

Proceeds from sales of loans held for sale

3,315

956

1,083

5,143

9,547

1,768

1,436

767

639

243

6,332

Gain on sale of loans held for sale

67

12

14

121

97

31

-

-

-

-

-

Gain on sale of loans

-

-

-

-

-

-

-

-

-

-

32

Net loss on disposal of premises and equipment

-

-

-

-

-

-

-1

-4

3

-

1

Depreciation and amortization

809

774

852

865

834

750

699

663

655

602

545

Deferred income tax (benefit) expense

-41

135

219

-222

257

-26

-46

-240

-40

111

-317

Increase in bank owned life insurance, net

500

392

358

281

272

259

283

248

257

277

276

ESOP shares committed to be released

120

130

126

108

107

99

91

80

-

-

-

Stock based compensation expense

322

445

440

-

-

-

-

-

-

-

-

ESOP shares committed to be released

-

-

-

-

-

-

-

-

81

64

56

Prepayment of FDIC insurance premiums

-

-

-

-

-

-

-

-

-

-

-1,402

Stock based compensation expense

-

-

-

217

220

110

41

44

223

333

316

Increase in accrued interest receivable

240

112

201

-48

-68

-71

-15

-117

118

80

-9

Decrease (increase) in other assets

480

18

-62

-280

141

219

-65

-380

-942

463

-146

Writedowns of foreclosed real estate

33

40

65

12

35

43

57

67

54

-

-

Writedowns of foreclosed real estate

-

-

-

-

-

-

-

-

-

-

-167

Decrease in other liabilities

197

163

381

-344

-118

-133

-83

458

-533

139

-485

Net Cash Provided by Operating Activities

-

-

-

-

-

4,347

5,382

6,753

-

-

-

Writedowns of foreclosed real estate

-

-

-

-

-

-

-

-

-

6

-

Net Cash Provided by Operating Activities

5,836

6,114

5,827

4,294

4,963

-

-

-

6,152

4,899

2,547

CASH FLOWS FROM INVESTING ACTIVITIES
Activity in available for sale securities: Sales

-

-

6,510

14,406

9,846

10,337

4,381

1,433

4,673

10,776

-

Activity in available for sale securities: Maturities, prepayments and calls

18,827

9,426

12,002

11,857

14,026

14,274

25,863

34,652

24,336

29,600

31,824

Activity in available for sale securities: Purchases

2,265

16,169

13,225

-

-

-

35,973

32,601

30,203

77,203

37,519

Purchases of Federal Home Loan Bank Stock

510

20

375

5

353

353

-

17

51

-

-

Redemptions of Federal Home Loan Bank Stock

-

106

84

119

274

538

292

384

233

-

-

Purchases of Federal Home Loan Bank Stock

-

-

-

-

-

-

-

-

-

354

-

Purchases of Federal Home Loan Bank Stock

-

-

-

-

-

-

-

-

-

-

48

Redemptions of Federal Home Loan Bank Stock

-

-

-

-

-

-

-

-

-

488

403

Proceeds from sale of interest rate floor derivative product

-

-

-

-

-

-

-

-

-

-

-890

Loan origination and principal collections, net

80,053

30,122

40,309

31,281

14,274

8,600

5,606

-47

13,198

6,719

20,122

Proceeds from sale of foreclosed real estate

81

1,510

331

619

849

601

551

603

166

247

228

Additions to premises and equipment

810

818

1,480

468

459

627

657

1,822

216

1,618

301

Purchase of bank owned life insurance

-

3,000

-

2,500

-

-

-

2,500

-

-

-

Net Cash Used in Investing Activities

-

-

-

-

-

16,170

-11,149

179

-

-

-

Net Cash Used in Investing Activities

-64,730

-39,087

-36,462

-7,253

9,909

-

-

-

-14,260

-44,783

-24,645

CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in deposits

51,018

27,305

19,260

16,738

-17,784

-1,296

9,692

-1,255

4,013

57,371

25,166

Net decrease in advances from borrowers for taxes and insurance

99

134

-183

-102

-130

-39

245

61

121

-

-

Net decreases in advances from borrowers for taxes and insurance

-

-

-

-

-

-

-

-

-

-43

102

Increase in short term borrowings

-

-

-

-

-

-11,650

450

4,290

1,910

-1,850

1,350

Proceeds from issuance of long-term debt

16,250

1,500

9,700

-

10,450

15,200

1,750

-

4,100

9,300

4,050

Repayment of long-term debt

6,250

3,800

1,700

2,200

8,250

4,100

8,300

12,830

11,030

11,290

14,360

Proceeds from stock options exercised

6

-

4

1,118

615

629

73

-

-

-

-

Purchase of treasury stock

1,419

1,448

269

455

746

62

119

209

169

1,624

719

Cash dividends paid

1,272

880

743

888

611

590

587

928

647

530

465

Net Cash Provided by Financing Activities

-

-

-

-

-

-1,908

3,204

-10,871

-

-

-

Net Cash Provided by Financing Activities

58,432

22,811

26,069

14,211

-16,456

-

-

-

-1,702

51,334

15,124

Net Increase in Cash and Cash Equivalents

-462

-10,162

-4,566

-

-

-

-

-

-

-

-

Net (Decrease) Increase in Cash and Cash Equivalents

-

-

-

11,252

-1,584

18,609

-2,563

-3,939

-9,810

11,450

-6,974

SUPPLEMENTARY CASH FLOWS INFORMATION
Interest paid

5,181

3,596

2,605

2,299

2,759

-

-

-

-

-

-

Interest paid

-

-

-

-

-

3,334

3,574

4,639

5,682

6,322

7,985

Income taxes paid

770

529

920

910

580

828

1,131

1,112

1,176

1,189

764

Right of use asset recognized

904

-

-

-

-

-

-

-

-

-

-

Right of use liability recognized

916

-

-

-

-

-

-

-

-

-

-

SUPPLEMENTARY SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Foreclosed real estate acquired in settlement of loans

212

1,928

554

369

1,178

448

704

1,001

252

307

708

Securities sold and not yet settled

-

-

-

-

-

-

-

1,410

-

-

-