XML 40 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 2,634 $ 2,802  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion 835 740  
Provision for loan losses 300 255 $ 1,085
Deferred income tax expense 442 218  
Stock-based compensation expense 243 279  
Excess tax benefit from exercise of SSARs   23  
Proceeds from sale of loans held-for-sale 13,055 12,702  
Originations of loans held-for-sale (11,232) (6,231)  
Earnings from bank-owned life insurance (165) (146) (146)
Net gain from sales of loans (215) (218)  
Net loss from sales of investment securities   4  
Net loss from sale and write-down of foreclosed assets held-for-sale 17 21  
Net loss from write-down and disposal of bank premises and equipment 7 1  
Operating lease payments 8 7  
Change in:      
Accrued interest receivable 42 (50)  
Other assets (903) (633)  
Accrued interest payable and other liabilities (178) (1,583)  
Net cash provided by operating activities 4,890 8,191  
Available-for-sale securities:      
Proceeds from sales 7,765 4,705  
Proceeds from maturities, calls and principal pay-downs 8,832 9,052  
Purchases (31,617) (11,145)  
Decrease in FHLB stock 1,651 2,676  
Net decrease in loans and leases 5,837 12,129  
Principal portion of lease payments received under direct finance leases 759 717  
Purchase of life insurance policies   (2,000)  
Purchases of bank premises and equipment (271) (334)  
Proceeds from sale of foreclosed assets held-for-sale 236 26  
Net cash used in investing activities (6,808) 15,826  
Cash flows from financing activities:      
Net increase in deposits 83,924 55,102  
Net decrease in short-term borrowings (37,839) (70,460)  
Repayment of FHLB advances   (10,000)  
Repayment of finance lease obligation (18) (19)  
Proceeds from employee stock purchase plan participants 219 175  
Dividends paid (1,071) (990)  
Net cash provided by financing activities 45,215 (26,192)  
Net increase (decrease) in cash and cash equivalents 43,297 (2,175)  
Cash and cash equivalents, beginning 15,663 17,485 17,485
Cash and cash equivalents, ending 58,960 15,310 $ 15,663
Supplemental Disclosures of Cash Flow Information, Cash payments for:      
Interest 1,784 1,626  
Income tax  
Supplemental Disclosures of Non-cash Investing Activities:      
Net change in unrealized gains on available-for-sale securities 4,111 2,520  
Transfers from loans to foreclosed assets held-for-sale   277  
Transfers from loans to loans held-for-sale 1,662 1,925  
Security settlement pending $ 1,445 1,698  
Right-of-use asset   4,133  
Lease liability   $ 4,540