XML 19 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities:    
Net Income $ 1,004 $ 1,994
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 125 125
Depreciation 423 363
Amortization of intangibles 248 29
Net amortization (accretion) of security discounts/premiums 199 (1,554)
Gain on sales of investment securities (98) (8)
Earnings on cash surrender value of life insurance (64) (65)
Mortgage loans originated for sale (10,152) (11,076)
Proceeds from sales of mortgage loans originated for sale 10,000 11,191
Gain on sale of mortgage loans (156) (191)
SBA loans originated for sale (3,114) (3,795)
Proceeds from sales of SBA loans originated for sale 3,371 4,079
Gain on sale of SBA loans (257) (284)
Loss on disposal of property, plant, and equipment   26
Loss on sale or write-down of foreclosed assets 2 82
Stock compensation expense 58 19
Deferred income tax benefit (826) (43)
Decrease in accrued interest receivable 474 27
(Increase) decrease in other assets (52) 256
Increase in accrued interest payable 261 106
Increase in other liabilities 1,437 1,914
Net Cash Provided By Operating Activities 2,883 3,195
Investing Activities:    
Proceeds from the sale of available-for-sale securities 97,218 17,931
Proceeds from the maturity or call of available-for-sale securities 5,806 1,107
Purchases of available-for-sale securities (20,708) (3,538)
Proceeds from the maturity or call of held-to-maturity securities 2,346  
Purchases of held-to-maturity securities (32,396) (48,926)
Net cash received from acquisition 65,025  
Redemptions (purchases) of restricted investment in bank stock 1,722 (32)
Net increase in loans and leases (26,814) (19,984)
Proceeds from the sale of bank premises and equipment held for sale   2,201
Purchases of bank premises and equipment (2,774) (770)
Proceeds from the sale of foreclosed assets 154 15
Net Cash Provided by (Used In) Investing Activities 89,579 (51,996)
Financing Activities:    
Net (decrease) increase in deposits (21,126) 36,514
Net decrease in short-term borrowings (34,611)  
Common stock dividends paid (1,060) (551)
Long-term debt repayment (58) (55)
Net Cash (Used In) Provided By Financing Activities (56,801) 35,935
Net increase (decrease) in cash and cash equivalents 35,661 (12,866)
Cash and cash equivalents, beginning of period 23,514 45,973
Cash and cash equivalents, end of period 59,175 33,107
Supplemental Disclosures of Cash Flow Information:    
Interest paid 1,825 1,278
Supplemental Noncash Disclosures:    
Loan transfers to foreclosed assets held for sale 701  
Assets Acquired:    
Securities 114,039  
Loans 70,686  
Restricted stock 97  
Property and equipment 1,496  
Foreclosed assets 11  
Deferred income taxes 621  
Accrued interest receivable 989  
Core deposit intangible 4,940  
Other assets 266  
Assets acquired 193,145  
Liabilities Assumed:    
Deposits 209,981  
Accrued interest payable 16  
Other liabilities 2,602  
Liabilities assumed 212,599  
Employee [Member]    
Financing Activities:    
Stock Purchase Plan 24 $ 27
Director [Member]    
Financing Activities:    
Stock Purchase Plan $ 30