XML 26 R9.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 5,743 $ 5,695 $ 5,094
Adjustments to reconcile net income to net cash from operating activities:      
Provision for loan losses 100 100 300
Depreciation 986 986 927
Amortization 1,497 1,493 1,636
Compensation expense on employee stock purchases and restricted stock units 118 60 22
Net gains on sales of securities (261) (311) (137)
Gains on sales of loans (1,416) (1,023) (1,566)
Loans originated for sale (47,498) (29,850) (42,906)
Proceeds from loan sales 46,077 29,561 45,204
Earnings on bank-owned life insurance (347) (302) (299)
Earnings from death benefit (304)    
Proceeds on bank-owned life insurance 461    
(Gains)/losses on sales of other real estate owned 30 (24) (122)
Write-downs of other real estate owned 91 154 926
Proceeds from sales of other real estate owned 406 789 1,604
Deferred federal income tax (benefit)/expense (631) (460) 59
Net change in:      
Other assets (503) (380) 289
Other liabilities (571) 985 (667)
Net cash from operating activities 3,978 7,473 10,364
Cash flows from investing activities:      
Sales of securities available for sale 25,876 24,766 8,790
Maturities, prepayments and calls of securities available for sale 27,084 11,427 26,072
Purchases of securities available for sale (70,902) (41,770) (40,687)
Purchase of Federal Reserve Bank stock (301)    
Calls of FHLB stock 299 565  
Purchase of bank-owned life insurance policies   (1,500)  
Loan originations and payments, net (3,678) (31,370) (6,812)
Additions to premises and equipment (1,038) (786) (801)
Net cash from investing activities (22,660) (38,668) (13,438)
Cash flows from financing activities:      
Net change in deposits 39,868 16,701 (6,072)
Net change in repurchase agreements (17,283) 710 6,461
Proceeds from Federal Home Loan Bank advances 194,575 87,700 7,000
Payments on Federal Home Loan Bank advances (201,606) (75,729) (1,028)
Issuance of common stock 206 132 130
Repurchase of common stock (371) (203) (192)
Cash dividends (2,170) (1,945) (1,780)
Net cash from financing activities 13,219 27,366 4,519
Net change in cash and cash equivalents (5,463) (3,829) 1,445
Beginning cash and cash equivalents 16,650 20,479 19,034
Ending cash and cash equivalents 11,187 16,650 20,479
Supplemental disclosures of cash flow information:      
Cash paid for interest 1,005 1,161 1,456
Cash paid for income taxes 2,395 1,760 2,000
Loans transferred to other real estate owned $ 408 $ 561 $ 897