Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net income	$ 4,103	$ 4,835
Adjustments to reconcile net income to net cash provided by operating activities:
Net (accretion) of securities premiums and discounts and deferred loan fees and costs	(181)	(118)
Depreciation and amortization of premises and equipment	559	573
Stock-based compensation and allocation of ESOP stock	587	657
Provision for loan losses	0	240
Deferred income taxes	(191)	293
Income from bank owned life insurance	(554)	(388)
Increase in accrued interest receivable	(35)	(8)
Decrease in other assets	64	129
Decrease in other liabilities	(800)	(490)
Net Cash Provided by Operating Activities	3,552	5,723
Activity in held to maturity securities:
Purchases	(9,961)	(8,969)
Maturities, calls and principal repayments	13,556	7,898
Net decrease (increase) in loans receivable	3,279	(54,406)
Purchased loans	(11,300)	(7,096)
Proceeds from sales of loans	2,533	32,563
Purchase of bank premises and equipment	(399)	(55)
Purchase of Federal Home Loan Bank of New York stock	(14,697)	(27,356)
Redemption of Federal Home Loan Bank of New York stock	16,605	24,731
Net Cash Used by Investing Activities	(384)	(32,690)
Cash Flows from Financing Activities
Net increase (decrease) in deposits	52,173	(28,334)
Advances from Federal Home Loan Bank of New York	0	66,600
Repayment of advances from Federal Home Loan Bank of New York	(42,700)	(10,000)
(Decrease) increase in advance payments by borrowers for taxes and insurance	(27)	63
Cash dividends paid to stockholders	(2,612)	(4,978)
Net exercise of options and repurchase of shares	0	(53)
Repurchase of common stock	(3,349)	(6,840)
Net Cash Provided by Financing Activities	3,485	16,458
Net increase (decrease) in Cash and Cash Equivalents	6,653	(10,509)
Cash and Cash Equivalents – Beginning	11,800	22,309
Cash and Cash Equivalents – Ending	18,453	11,800
Supplementary Cash Flows Information
Interest paid	6,991	5,407
Income taxes paid	2,077	1,436
Lease liabilities arising from obtaining right-of-use assets	$ 1,211	$ 0

MSB FINANCIAL CORP 10-K