Component: (Network and Table) | |
---|---|
Network | 0006 - Statement - Consolidated Statements of Cash Flows (http://ffsmortgages.com/role/ConsolidatedStatementsOfCashFlows) |
Table | (Implied) |
Reporting Entity [Axis] | 0001434743 (http://www.sec.gov/CIK) |
Statement of Cash Flows [Abstract] | Period [Axis] | |
---|---|---|
2011-01-01 - 2011-12-31 | 2010-01-01 - 2010-12-31 | |
Statement of Cash Flows [Abstract] | ||
Cash flows from operating activities | ||
Net loss | (20,479,000) | (5,303,000) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation | 1,011,000 | 1,281,000 |
Provision for loan losses | 15,815,000 | 12,462,000 |
Deferred income taxes | 9,493,000 | (2,227,000) |
Amortization of premium on securities, net of discount accretion | 853,000 | 1,394,000 |
Origination of held-for-sale loans | (86,928,000) | (118,401,000) |
Proceeds from sales of held-for-sale loans | 91,114,000 | 116,169,000 |
Net gains on sales of investment securities | (2,458,000) | (1,720,000) |
Net gains on sales of USDA and SBA loans | (565,000) | (875,000) |
Net gains on sales of held-for-sale loans | (1,854,000) | (3,075,000) |
Net loss on sales of foreclosed real estate | 353,000 | 325,000 |
Net loss on sale of repossessed assets | 2,000 | 9,000 |
Net loss on sale or disposal of equipment | 34,000 | 59,000 |
Stock compensation expense (benefit) | (2,000) | 108,000 |
Writedown of foreclosed real estate | 3,077,000 | 1,510,000 |
Increase in cash surrender value of bank-owned life insurance | (435,000) | (462,000) |
Changes in assets and liabilities: | ||
Accrued interest receivable | (365,000) | 168,000 |
Other assets | 862,000 | 256,000 |
Accrued interest payable | (813,000) | (392,000) |
Other liabilities | (246,000) | 555,000 |
Net cash provided by operating activities | 8,469,000 | 1,841,000 |
Cash flows from investing activities | ||
Purchases of investment securities available for sale | (223,157,000) | (178,060,000) |
Sales of investment securities available for sale | 96,629,000 | 101,423,000 |
Maturities of investment securities available for sale | 13,703,000 | 15,731,000 |
Calls of investment securities available for sale | 52,114,000 | 23,710,000 |
Purchases of investment securities held to maturity | (205,000) | (2,012,000) |
Maturities of investment securities held to maturity | 50,000 | 50,000 |
Redemptions of restricted equity securities | 1,613,000 | 471,000 |
Proceeds from sale of branch | 0 | 4,512,000 |
Proceeds from sales of other real estate | 2,735,000 | 3,764,000 |
Improvements to foreclosed assets | 6,000 | (361,000) |
Net decrease in loans | 33,418,000 | 32,234,000 |
Decrease in investment in real estate | 0 | 311,000 |
Purchases of property and equipment | (59,000) | (1,585,000) |
Net cash provided by (used in) investing activities | (23,153,000) | 188,000 |
Cash flows from financing activities | ||
Proceeds from the issuance of common stock | 0 | 56,000 |
Net increase in deposits | (1,693,000) | (3,113,000) |
Net increase (decrease) in securities sold under agreements to repurchase and federal funds purchased | (99,000) | (566,000) |
Repayment of FHLB advances | 0 | (66,048,000) |
Net increase (decrease) in other borrowings | (3,619,000) | 3,619,000 |
Dividends paid on preferred stock | 0 | (409,000) |
Net cash used in financing activities | (5,411,000) | (66,461,000) |
Net increase (decrease) in cash and cash equivalents | (20,095,000) | (64,432,000) |
Cash and cash equivalents, beginning of year | 57,398,000 | 121,830,000 |
Cash and cash equivalents, end of year | 37,303,000 | 57,398,000 |
Supplemental disclosure of cash flow information | ||
Transfer of loans to foreclosed real estate | 11,828,000 | 11,503,000 |
Transfer of investment in real estate partnership to foreclosure real estate | 6,356,000 | 0 |
Transfer of loans to repossessed assets | 1,617,000 | 72,000 |
Transfer of loans to held-to-maturity securities | 1,250,000 | 0 |
Loans made to finance sale of foreclosed real estate | 202,000 | 0 |
Interest paid | 8,324,000 | 10,683,000 |