| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
1,770 | 1,804 | 1,422 | 658 | -172 | 729 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Amortization of securities, net of accretion | ||||||
-177 | -144 | -37 | -42 | -3 | -4 | |
Gain on sales and calls of available-for-sale securities, net | ||||||
493 | 1,385 | - | - | - | - | |
Gain on sales of available-for-sale securities, net | ||||||
- | - | 1,004 | 409 | - | - | |
Writedown of available-for-sale securities | ||||||
- | - | - | 461 | - | - | |
Provision for loan losses | ||||||
189 | 245 | 310 | 60 | 10 | - | |
Provision for loan losses | ||||||
- | - | - | - | - | 37 | |
Change in net deferred loan costs | ||||||
-32 | 3 | -77 | 29 | -16 | -8 | |
Change in unamortized premiums | ||||||
65 | -113 | -372 | - | - | - | |
Depreciation | ||||||
149 | 187 | 85 | - | - | - | |
Loans originated for sale | ||||||
- | - | - | - | 1,750 | 5,000 | |
Proceeds from sales of loans | ||||||
- | - | - | - | 1,775 | 5,324 | |
Gain on sales of loans | ||||||
- | - | - | - | 25 | 105 | |
Gain on sale of other real estate owned | ||||||
- | - | - | - | - | 12 | |
Contribution of common stock to Melrose Cooperative Bank Foundation | ||||||
- | - | - | - | 1,062 | - | |
Depreciation and amortization | ||||||
- | - | - | 97 | 97 | 84 | |
Increase in accrued interest receivable | ||||||
76 | 130 | 132 | 58 | -26 | -2 | |
Decrease in other assets | ||||||
606 | 76 | 4 | 20 | -4 | -270 | |
Decrease in other liabilities | ||||||
71 | 36 | 17 | -34 | - | - | |
Decrease in accrued expenses and other liabilities | ||||||
- | - | - | - | 337 | 17 | |
Decrease in income taxes receivable | ||||||
- | - | - | - | -20 | 61 | |
Decrease in income taxes receivable | ||||||
306 | 134 | 71 | -68 | -502 | -39 | |
Income on bank-owned life insurance | ||||||
160 | 162 | 141 | 140 | 137 | 129 | |
ESOP expense | ||||||
147 | 136 | 116 | 107 | 99 | - | |
Stock-based compensation expense | ||||||
300 | 300 | 191 | - | - | - | |
Net cash provided by operating activities | ||||||
1,871 | 1,117 | - | - | - | - | |
Cash flows from investing activities: | ||||||
Net cash provided by operating activities | ||||||
- | - | 673 | 667 | 863 | 1,129 | |
Purchases of available-for-sale securities | ||||||
7,504 | 4,214 | 4,991 | 15,451 | 6,110 | 13,864 | |
Proceeds from sales of available for sale securities | ||||||
860 | 4,498 | 9,321 | 2,911 | 0 | - | |
Proceeds from maturities and calls of available-for-sale securities | ||||||
6,817 | 5,385 | 9,230 | 8,939 | 5,054 | 2,588 | |
Purchase of interest-bearing time deposits with other banks | ||||||
-675 | - | - | - | - | - | |
Purchases of Federal Home Loan Bank stock | ||||||
485 | 836 | 527 | - | 28 | 19 | |
Increase in Cooperative Central Bank deposit | ||||||
5 | -5 | - | - | - | 5,198 | |
Loan originations and principal collections, net | ||||||
16,886 | 18,785 | 18,286 | 23,589 | 1,941 | 6,292 | |
Recoveries on loans previously charged off | ||||||
- | - | - | - | - | 1 | |
Loans purchased | ||||||
294 | 19,496 | 34,591 | 2,835 | - | - | |
Capital expenditures | ||||||
801 | 932 | 107 | 69 | 104 | 73 | |
Proceeds from sale of other real estate owned | ||||||
- | - | - | - | - | 217 | |
Premiums paid on bank-owned life insurance | ||||||
53 | 54 | 503 | 53 | 53 | 53 | |
Net cash provided by (used in) investing activities | ||||||
-19,016 | -34,439 | - | - | - | - | |
Cash flows from financing activities: | ||||||
Net cash used in investing activities | ||||||
- | - | -40,454 | -30,147 | -3,182 | -17,495 | |
Net increase (decrease) in demand deposits, NOW and savings accounts | ||||||
5,636 | 5,640 | 3,969 | 1,366 | 950 | - | |
Net increase (decrease) in time deposits | ||||||
5,499 | 12,515 | 26,270 | 16,090 | -9,389 | 5,111 | |
Proceeds from Federal Home Loan Bank advances | ||||||
10,000 | 19,000 | 10,000 | - | - | - | |
Repayment of advances from Federal Home Loan Bank | ||||||
5,000 | - | - | - | - | - | |
Cash dividend paid | ||||||
817 | - | - | - | - | - | |
Repurchase of Melrose Bancorp, Inc. common stock | ||||||
694 | - | 3,520 | 613 | - | - | |
Shares repurchased for tax withholdings on stock-based compensation | ||||||
24 | 22 | - | - | - | - | |
Stock options exercised | ||||||
137 | - | - | - | - | - | |
Net cash provided by financing activities | ||||||
14,737 | 37,133 | - | - | - | - | |
Proceeds from common stock offering | ||||||
- | - | - | - | 27,234 | - | |
Cost of common stock offering | ||||||
- | - | - | - | 1,716 | - | |
Common stock acquired by ESOP | ||||||
- | - | - | - | 2,264 | - | |
Net cash provided by financing activities | ||||||
- | - | 36,719 | 16,843 | 14,815 | 10,309 | |
Net increase in cash and cash equivalents | ||||||
- | - | -3,062 | -12,637 | 12,496 | - | |
Net increase in cash and cash equivalents | ||||||
-2,408 | 3,811 | - | - | - | -6,057 | |
Supplemental disclosures: | ||||||
Interest paid | ||||||
3,459 | 2,184 | - | - | - | - | |
Income taxes paid | ||||||
679 | 1,181 | - | - | - | - | |
Interest paid | ||||||
- | - | 1,634 | 1,276 | 1,266 | 1,547 | |
Income taxes paid | ||||||
- | - | 644 | 379 | 301 | 409 | |
Reclassification adjustment for stranded accumulated other comprehensive income due to tax rate change | ||||||
- | 42 | - | - | - | - | |