| Price | 20.50 | EPS | 1 | |
| Shares | 18 | P/E | 41 | |
| MCap | 361 | P/FCF | 34 | |
| Net Debt | 0 | EBIT | 25 | |
| TEV | 361 | TEV/EBIT | 15 | TTM 2019-09-30, in MM, except price, ratios |
| 10-Q | 2020-03-31 | Filed 2020-05-06 |
| 10-Q | 2019-12-31 | Filed 2020-02-07 |
| 10-Q | 2019-09-30 | Filed 2019-11-08 |
| 10-K | 2019-06-30 | Filed 2019-09-10 |
| 10-Q | 2019-03-31 | Filed 2019-05-10 |
| 10-Q | 2018-12-31 | Filed 2019-02-08 |
| 10-Q | 2018-09-30 | Filed 2018-11-09 |
| 10-K | 2018-06-30 | Filed 2018-09-13 |
| 10-Q | 2018-03-31 | Filed 2018-05-11 |
| 10-Q | 2017-12-31 | Filed 2018-02-09 |
| 10-Q | 2017-09-30 | Filed 2017-11-09 |
| 10-K | 2017-06-30 | Filed 2017-09-27 |
| 10-Q | 2017-03-31 | Filed 2017-05-12 |
| 10-Q | 2016-12-31 | Filed 2017-03-27 |
| 8-K | 2020-04-30 | |
| 8-K | 2020-02-19 | |
| 8-K | 2020-01-31 | |
| 8-K | 2020-01-23 | |
| 8-K | 2019-10-23 | |
| 8-K | 2019-10-23 | |
| 8-K | 2019-08-01 | |
| 8-K | 2019-06-19 | |
| 8-K | 2019-05-22 | |
| 8-K | 2019-04-25 | |
| 8-K | 2019-02-06 | |
| 8-K | 2019-01-24 | |
| 8-K | 2018-12-31 | |
| 8-K | 2018-11-15 | |
| 8-K | 2018-11-07 | |
| 8-K | 2018-10-30 | |
| 8-K | 2018-10-25 | |
| 8-K | 2018-10-24 | |
| 8-K | 2018-10-24 | |
| 8-K | 2018-08-02 | |
| 8-K | 2018-07-25 | |
| 8-K | 2018-04-26 | |
| 8-K | 2018-01-25 |
| Part I - Financial Information |
| Item 1. Financial Statements. |
| Note 1. Basis of Presentation |
| Note 2. Recent Accounting Pronouncements |
| Note 3. Investment Securities |
| Note 4. Loans Receivable |
| Note 5. Other Comprehensive Income (Loss) |
| Note 6. Post - Retirement Benefits |
| Note 7. Fair Value of Financial Instruments |
| Note 8. Regulatory Matters |
| Note 9. Earnings per Share ("Eps") |
| Note 10. Derivatives and Hedging |
| Note 11. Revenue From Contracts with Customers |
| Note 12. Stock - Based Compensation |
| Note 13. Leases |
| Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk. |
| Item 4. Controls and Procedures |
| Part II - Other Information |
| Item 1. Legal Proceedings |
| Item 1A. Risk Factors |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds of Registered Securities |
| Item 3. Defaults Upon Senior Securities |
| Item 4. Mine Safety Disclosures |
| Item 5. Other Information |
| Item 6. Exhibits |
| EX-31.1 | pcsb-ex311_7.htm |
| EX-31.2 | pcsb-ex312_8.htm |
| EX-32 | pcsb-ex32_6.htm |
| Balance Sheet | Income Statement | Cash Flow |
|---|---|---|
|
Assets, Equity
|
Rev, G Profit, Net Income
|
Ops, Inv, Fin
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended March 31, 2020
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from _____ to _____
Commission File Number: 001-38065
PCSB Financial Corporation
(Exact Name of Registrant as Specified in its Charter)
| Maryland | 81-4710738 |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer |
| 2651 Strang Blvd, Suite 100 Yorktown Heights, NY | 10598 |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (914) 248-7272
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
| Trading Symbol(s) |
| Name of each exchange on which registered |
| Common Stock, $0.01 par value per share |
| PCSB |
| The NASDAQ Stock Market, LLC |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer |
| ☐ |
|
| Accelerated filer |
| ☒ |
|
|
|
|
|
| |||
| Non-accelerated filer |
| ☐ |
|
| Small reporting company |
| ☒ |
|
|
|
|
|
| |||
|
|
|
|
|
| Emerging growth company |
| ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for completing with any or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
|
|
|
|
|
|
16,898,137 shares of the Registrant’s common stock, par value $0.01 per share, were outstanding as of May 6, 2020.
|
|
| Page |
| PART I. | FINANCIAL INFORMATION |
|
| Item 1. | 3 | |
|
| 3 | |
|
| 4 | |
|
| 5 | |
|
| 6 | |
|
| 8 | |
|
| 10 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 38 |
| Item 3. | 51 | |
| Item 4. | 51 | |
| PART II. | OTHER INFORMATION |
|
| Item 1. | 51 | |
| Item 1A. | 51 | |
| Item 2. | 53 | |
| Item 3. | 53 | |
| Item 4. | 53 | |
| Item 5. | 53 | |
| Item 6. | 54 | |
| 55 | ||
2
PCSB Financial Corporation and Subsidiaries
Consolidated Balance Sheets (unaudited)
(amounts in thousands, except share and per share data)
|
|
| March 31, |
|
| June 30, |
| ||
|
|
| 2020 |
|
| 2019 |
| ||
| ASSETS |
|
|
|
|
|
|
|
|
| Cash and due from banks |
| $ | 83,665 |
|
| $ | 58,756 |
|
| Federal funds sold |
|
| 1,247 |
|
|
| 1,273 |
|
| Total cash and cash equivalents |
|
| 84,912 |
|
|
| 60,029 |
|
| Investment securities: |
|
|
|
|
|
|
|
|
| Held to maturity debt securities, at amortized cost (fair value of $267,704, and $346,243, respectively) |
|
| 263,626 |
|
|
| 345,545 |
|
| Available for sale debt securities, at fair value |
|
| 45,992 |
|
|
| 72,228 |
|
| Total investment securities |
|
| 309,618 |
|
|
| 417,773 |
|
| Loans receivable, net of allowance for loan losses of $8,346 and $5,664, respectively |
|
| 1,220,682 |
|
|
| 1,093,121 |
|
| Accrued interest receivable |
|
| 5,384 |
|
|
| 4,797 |
|
| FHLB stock |
|
| 6,026 |
|
|
| 6,255 |
|
| Premises and equipment, net |
|
| 21,437 |
|
|
| 11,802 |
|
| Deferred tax asset, net |
|
| 2,421 |
|
|
| 2,478 |
|
| Foreclosed real estate |
|
| - |
|
|
| 1,158 |
|
| Bank-owned life insurance |
|
| 24,890 |
|
|
| 24,291 |
|
| Goodwill |
|
| 6,106 |
|
|
| 6,106 |
|
| Other intangible assets |
|
| 250 |
|
|
| 323 |
|
| Other assets |
|
| 14,149 |
|
|
| 9,446 |
|
| Total assets |
| $ | 1,695,875 |
|
| $ | 1,637,579 |
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
| Interest bearing deposits |
| $ | 1,133,742 |
|
| $ | 1,084,442 |
|
| Non-interest bearing deposits |
|
| 145,844 |
|
|
| 141,379 |
|
| Total deposits |
|
| 1,279,586 |
|
|
| 1,225,821 |
|
| Mortgage escrow funds |
|
| 7,924 |
|
|
| 9,355 |
|
| Advances from FHLB |
|
| 106,121 |
|
|
| 111,216 |
|
| Other liabilities |
|
| 29,827 |
|
|
| 9,880 |
|
| Total liabilities |
|
| 1,423,458 |
|
|
| 1,356,272 |
|
| Commitments and contingencies |
|
| - |
|
|
| - |
|
| Shareholders' equity: |
|
|
|
|
|
|
|
|
| Preferred stock ($0.01 par value, 10,000,000 shares authorized, no shares issued or outstanding as of March 31, 2020 and June 30, 2019) |
|
| - |
|
|
| - |
|
| Common stock ($0.01 par value, 200,000,000 shares authorized, 18,712,295 shares issued as of March 31, 2020 and June 30, 2019, respectively, and 16,898,137 and 17,804,039 shares outstanding as of March 31, 2020 and June 30, 2019, respectively) |
|
| 187 |
|
|
| 187 |
|
| Additional paid in capital |
|
| 185,301 |
|
|
| 182,129 |
|
| Retained earnings |
|
| 138,957 |
|
|
| 134,500 |
|
| Unearned compensation - ESOP |
|
| (11,384 | ) |
|
| (12,114 | ) |
| Accumulated other comprehensive loss, net of income taxes |
|
| (4,230 | ) |
|
| (5,090 | ) |
| Treasury stock, at cost (1,814,158 and 908,256 shares as of March 31, 2020 and June 30, 2019, respectively) |
|
| (36,414 | ) |
|
| (18,305 | ) |
| Total shareholders' equity |
|
| 272,417 |
|
|
| 281,307 |
|
| Total liabilities and shareholders' equity |
| $ | 1,695,875 |
|
| $ | 1,637,579 |
|
See accompanying notes to the consolidated financial statements (unaudited)
3
PCSB Financial Corporation and Subsidiaries
Consolidated Statements of Operations (unaudited)
(amounts in thousands, except share and per share data)
|
| Three Months Ended March 31, |
|
| Nine Months Ended March 31, |
| ||||||||||
|
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
| ||||
| Interest and dividend income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loans receivable | $ | 13,114 |
|
| $ | 10,413 |
|
| $ | 39,299 |
|
| $ | 30,632 |
|
| Investment securities |
| 2,003 |
|
|
| 2,619 |
|
|
| 6,974 |
|
|
| 7,413 |
|
| Federal funds and other |
| 217 |
|
|
| 614 |
|
|
| 816 |
|
|
| 1,450 |
|
| Total interest and dividend income |
| 15,334 |
|
|
| 13,646 |
|
|
| 47,089 |
|
|
| 39,495 |
|
| Interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits and escrow interest |
| 3,268 |
|
|
| 2,741 |
|
|
| 9,927 |
|
|
| 7,172 |
|
| FHLB advances |
| 541 |
|
|
| 168 |
|
|
| 1,942 |
|
|
| 378 |
|
| Total interest expense |
| 3,809 |
|
|
| 2,909 |
|
|
| 11,869 |
|
|
| 7,550 |
|
| Net interest income |
| 11,525 |
|
|
| 10,737 |
|
|
| 35,220 |
|
|
| 31,945 |
|
| Provision for loan losses |
| 2,008 |
|
|
| 7 |
|
|
| 2,755 |
|
|
| 71 |
|
| Net interest income after provision for loan losses |
| 9,517 |
|
|
| 10,730 |
|
|
| 32,465 |
|
|
| 31,874 |
|
| Noninterest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fees and service charges |
| 366 |
|
|
| 436 |
|
|
| 1,170 |
|
|
| 1,311 |
|
| Bank-owned life insurance |
| 128 |
|
|
| 131 |
|
|
| 399 |
|
|
| 410 |
|
| Swap income |
| - |
|
|
| - |
|
|
| 170 |
|
|
| 146 |
|
| Gains on sales of securities, net |
| 38 |
|
|
| - |
|
|
| 38 |
|
|
| 55 |
|
| Other |
| 48 |
|
|
| 12 |
|
|
| 115 |
|
|
| 218 |
|
| Total noninterest income |
| 580 |
|
|
| 579 |
|
|
| 1,892 |
|
|
| 2,140 |
|
| Noninterest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Salaries and employee benefits |
| 5,782 |
|
|
| 5,579 |
|
|
| 17,435 |
|
|
| 15,907 |
|
| Occupancy and equipment |
| 1,311 |
|
|
| 1,340 |
|
|
| 3,959 |
|
|
| 3,865 |
|
| Communication and data processing |
| 521 |
|
|
| 476 |
|
|
| 1,559 |
|
|
| 1,430 |
|
| Professional fees |
| 393 |
|
|
| 396 |
|
|
| 1,176 |
|
|
| 1,182 |
|
| Postage, printing, stationary and supplies |
| 140 |
|
|
| 138 |
|
|
| 439 |
|
|
| 454 |
|
| FDIC assessment |
| - |
|
|
| 105 |
|
|
| - |
|
|
| 322 |
|
| Advertising |
| 100 |
|
|
| 131 |
|
|
| 300 |
|
|
| 349 |
|
| Amortization of intangible assets |
| 24 |
|
|
| 29 |
|
|
| 73 |
|
|
| 85 |
|
| Other operating expenses |
| 249 |
|
|
| 504 |
|
|
| 1,160 |
|
|
| 1,692 |
|
| Total noninterest expense |
| 8,520 |
|
|
| 8,698 |
|
|
| 26,101 |
|
|
| 25,286 |
|
| Net income before income tax expense |
| 1,577 |
|
|
| 2,611 |
|
|
| 8,256 |
|
|
| 8,728 |
|
| Income tax expense |
| 360 |
|
|
| 625 |
|
|
| 1,857 |
|
|
| 2,089 |
|
| Net income | $ | 1,217 |
|
| $ | 1,986 |
|
| $ | 6,399 |
|
| $ | 6,639 |
|
| Earnings per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic | $ | 0.08 |
|
| $ | 0.12 |
|
| $ | 0.41 |
|
| $ | 0.40 |
|
| Diluted | $ | 0.08 |
|
| $ | 0.12 |
|
| $ | 0.40 |
|
| $ | 0.40 |
|
| Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
| 15,437,173 |
|
|
| 16,204,393 |
|
|
| 15,752,709 |
|
|
| 16,645,287 |
|
| Diluted |
| 15,447,217 |
|
|
| 16,261,755 |
|
|
| 15,814,322 |
|
|
| 16,659,746 |
|
See accompanying notes to the consolidated financial statements (unaudited)
4
PCSB Financial Corporation and Subsidiaries
Consolidated Statements of Comprehensive Income (unaudited)
(amounts in thousands)
|
|
| Three Months Ended March 31, |
|
| Nine Months Ended March 31, |
| ||||||||||
|
|
| 2020 |
|
| 2019 |
|
| 2020 |
|
| 2019 |
| ||||
| Net income |
| $ | 1,217 |
|
| $ | 1,986 |
|
| $ | 6,399 |
|
| $ | 6,639 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unrealized gains (losses) on available for sale debt securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net change in unrealized gains/losses before reclassification adjustment |
|
| 186 |
|
|
| 757 |
|
|
| 406 |
|
|
| 1,110 |
|
| Reclassification adjustment for gains realized in net income |
|
| (20 | ) |
|
|
|
|
|
| (20 | ) |
|
| (55 | ) |
| Net change in unrealized gains/losses |
|
| 166 |
|
|
| 757 |
|
|
| 386 |
|
|
| 1,055 |
|
| Tax effect |
|
| (35 | ) |
|
| (160 | ) |
|
| (80 | ) |
|
| (222 | ) |
| Net of tax |
|
| 131 |
|
|
| 597 |
|
|
| 306 |
|
|
| 833 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Defined benefit pension plan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net gain (loss) arising during the period |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
| Reclassification adjustment for amortization of prior service cost and net gain included in net periodic pension cost |
|
| 132 |
|
|
| 145 |
|
|
| 668 |
|
|
| 435 |
|
| Tax effect |
|
| (27 | ) |
|
| (30 | ) |
|
| (139 | ) |
|
| (91 | ) |
| Net of tax |
|
| 105 |
|
|
| 115 |
|
|
| 529 |
|
|
| 344 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Supplemental retirement plans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net gain (loss) arising during the period |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
| Reclassification adjustment for amortization of prior service cost and net gain included in net periodic pension cost |
|
| 11 |
|
|
| 9 |
|
|
| 34 |
|
|
| 27 |
|
| Tax effect |
|
| (3 | ) |
|
| (1 | ) |
|
| (9 | ) |
|
| (5 | ) |
| Net of tax |
|
| 8 |
|
|
| 8 |
|
|
| 25 |
|
|
| 22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total other comprehensive income |
|
| 244 |
|
|
| 720 |
|
|
| 860 |
|
|
| 1,199 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Comprehensive income |
| $ | 1,461 |
|
| $ | 2,706 |
|
| $ | 7,259 |
|
| $ | 7,838 |
|
See accompanying notes to the consolidated financial statements (unaudited)
5
PCSB Financial Corporation and Subsidiaries
Consolidated Statements of Changes in Shareholders’ Equity (unaudited)
(amounts in thousands, except share and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulated |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Additional |
|
|
|
|
|
| Unallocated |
|
| Treasury |
|
| Other |
|
|
|
|
| ||||
|
| Number of |
|
| Common |
|
| Paid-In |
|
| Retained |
|
| Common Stock |
|
| Stock, |
|
| Comprehensive |
|
| Total |
| ||||||||
|
| Shares |
|
| Stock |
|
| Capital |
|
| Earnings |
|
| of ESOP |
|
| at cost |
|
| Loss |
|
| Equity |
| ||||||||
| Balance at July 1, 2019 |
| 17,804,039 |
|
| $ | 187 |
|
| $ | 182,129 |
|
| $ | 134,500 |
|
| $ | (12,114 | ) |
| $ | (18,305 | ) |
| $ | (5,090 | ) |
| $ | 281,307 |
|
| Net income |
| - |
|
|
| - |
|
|
| - |
|
|
| 2,829 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 2,829 |
|
| Other comprehensive income |
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 256 |
|
|
| 256 |
|
| Common stock dividends declared ($0.04 per share) |
| - |
|
|
| - |
|
|
| - |
|
|
| (659 | ) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| (659 | ) |
| Repurchase of common stock |
| (179,800 | ) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| (3,524 | ) |
|
| - |
|
|
| (3,524 | ) |
| Stock-based compensation |
| - |
|
|
| - |
|
|
| 829 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 829 |
|
| ESOP shares committed to be released (24,419 shares) |
| - |
|
|
| - |
|
|
| 240 |
|
|
| - |
|
|
| 244 |
|
|
| - |
|
|
| - |
|
|
| 484 |
|
| Balance at September 30, 2019 |
| 17,624,239 |
|
|
| 187 |
|
|
| 183,198 |
|
|
| 136,670 |
|
|
| (11,870 | ) |
|
| (21,829 | ) |
|
| (4,834 | ) |
|
| 281,522 |
|
| Net income |
| - |
|
|
| - |
|
|
| - |
|
|
| 2,353 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 2,353 |
|
| Other comprehensive income |
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 360 |
|
|
| 360 |
|
| Common stock dividends declared ($0.04 per share) |
| - |
|
|
| - |
|
|
| - |
|
|
| (650 | ) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| (650 | ) |
| Repurchase of common stock |
| (236,050 | ) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| (4,748 | ) |
|
| - |
|
|
| (4,748 | ) |
| Shares withheld related to income tax withholding |
| (15,881 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (320 | ) |
|
|
|
|
|
| (320 | ) |
| Stock-based compensation |
| - |
|
|
| - |
|
|
| 829 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 829 |
|
| ESOP shares committed to be released (24,419 shares) |
| - |
|
|
| - |
|
|
| 249 |
|
|
| - |
|
|
| 244 |
|
|
| - |
|
|
| - |
|
|
| 493 |
|
| Balance at December 31, 2019 |
| 17,372,308 |
|
| $ | 187 |
|
| $ | 184,276 |
|
| $ | 138,373 |
|
| $ | (11,626 | ) |
| $ | (26,897 | ) |
| $ | (4,474 | ) |
| $ | 279,839 |
|
| Net income |
| - |
|
|
| - |
|
|
| - |
|
|
| 1,217 |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 1,217 |
|
| Other comprehensive income |
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 244 |
|
|
| 244 |
|
| Common stock dividends declared ($0.04 per share) |
| - |
|
|
| - |
|
|
| - |
|
|
| (633 | ) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| (633 | ) |
| Repurchase of common stock |
| (474,171 | ) |
|
| - |
|
| |||||||||||||||||||||||