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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities    
Net Income $ 2,506 $ 1,980
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 447 609
Depreciation 548 459
Stock compensation 53 37
Gain on sales of other real estate owned (20) (30)
Write-downs of other real estate owned 295 70
Originations of loans held for sale (5,137) (1,796)
Proceeds from loans held for sale 5,330 2,021
Gains from sale of loans held for sale (43) (15)
Losses on disposal of fixed assets 0 1
Net amortization of investment securities discounts and premiums- AFS 8 109
Net amortization of investment securities discounts and premiums- HTM 28 30
Losses on sales of investment securities - available-for-sale 9 9
Amortization of deferred loan fees (156) (385)
Increase in accrued interest receivable and other assets (799) (1,933)
(Increase)/decrease in deferred tax benefit (512) 336
Increase/(decrease) in accrued interest payable and other liabilities 967 (831)
Earnings on bank owned life insurance (299) (309)
Net cash provided by operating activities 3,225 362
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 1,659 3,554
Proceeds from maturities/calls of investment securities held-to-maturity 1,726 1,997
Proceeds from sales of investment securities available-for-sale 0 3,830
Purchases of investment securities available-for-sale (1,405) (4,145)
Purchases of investment securities held-to-maturity 0 (2,877)
Proceeds from sales of other real estate owned 470 147
Proceeds from disposal of fixed assets 0 1
Net (increase)/decrease in FHLB stock (148) 5
Net increase in loans (19,868) (1,654)
Purchases of loans (25,168) 0
Purchases of premises and equipment (2,220) (1,456)
Net cash used in investing activities (44,954) (598)
Financing activities    
Net (decrease)/increase in deposits (21,527) 12,639
Preferred stock dividends paid 0 (540)
Preferred stock redemption 0 (10,000)
Proceeds from sale of common stock 0 9,349
Rights Offering costs 0 (145)
Cash dividends on common stock (635) 0
Net increase/(decrease) in short-term borrowings 6,365 (731)
Payments on long-term borrowings (5,000) (10,808)
Net cash provided by financing activities (20,797) (236)
Decrease in cash and cash equivalents (62,526) (472)
Cash and cash equivalents at beginning of the year 83,752 63,310
Cash and cash equivalents at end of period 21,226 62,838
Supplemental information    
Interest paid 1,737 1,896
Non-cash investing activities:    
Transfers from loans to other real estate owned $ 118 $ 279