XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,247 $ 3,303
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 500 615
Depreciation and amortization 69 108
Amortization and accretion of investment securities 306 382
Deferred income taxes (181) (174)
Equity security gains, net (6) 0
Available for sale security gains, net 0 (172)
Earnings on bank owned life insurance (152) (166)
Originations of loans held for sale (2,523) (4,727)
Proceeds from sales of loans held for sale 3,772 5,075
Realized gains on loans sold (72) (101)
(Increase) decrease in accrued interest receivable (87) 471
Decrease in accrued interest payable (30) (108)
Other, net 482 1,801
Net cash provided by operating activities 6,325 6,307
Available-for-sale securities:    
Proceeds from sales 0 18,766
Proceeds from maturity and principal repayments 22,872 29,858
Purchase of securities (21,963) (11,039)
Purchase of interest bearing time deposits with other banks (249) (746)
Proceeds from redemption of regulatory stock 2,709 2,617
Purchase of regulatory stock (2,630) (1,288)
Net increase in loans (31,081) (45,880)
Purchase of premises and equipment (41) (113)
Proceeds from sale of interest bearing time deposits with other banks 0 750
Proceeds from sale of foreclosed assets held for sale 195 125
Net cash used in investing activities (30,188) (6,950)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 10,210 32,106
Proceeds from long-term borrowings 2 2
Net (decrease) increase in short-term borrowed funds 9,455 (32,828)
Purchase of treasury and restricted stock (331) (396)
Dividends paid (1,515) (1,198)
Net cash (used) provided by financing activities 17,821 (2,314)
Net (decrease) in cash and cash equivalents (6,042) (2,957)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 18,517 17,754
CASH AND CASH EQUIVALENTS AT END OF PERIOD 12,475 14,797
Supplemental Disclosures of Cash Flow Information:    
Interest paid 1,993 1,411
Income taxes paid 0 0
Loans transferred to foreclosed property 13 307
Investments and time deposits sold and not settled $ 0 $ 1,297