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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net Income $ 5,522 $ 4,289
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 716 908
Depreciation 1,117 921
Stock compensation 116 85
Gain on sales of other real estate owned (183) (74)
Write-downs of other real estate owned 478 93
Originations of loans held for sale (7,166) (4,826)
Proceeds from loans held for sale 6,820 3,900
Gains from sale of loans held for sale (55) (32)
Losses on disposal of fixed assets 0 1
Net amortization of investment securities discounts and premiums- AFS 27 123
Net amortization of investment securities discounts and premiums- HTM 40 30
(Gains)/losses on sales of investment securities - available-for-sale (126) 17
Amortization of deferred loan fees (358) (297)
Increase in accrued interest receivable and other assets (1,673) (2,626)
(Increase)/decrease in deferred tax benefit (744) 1,368
Increase in accrued interest payable and other liabilities 2,203 642
Earnings on bank owned life insurance (584) (600)
Net cash provided by operating activities 6,150 3,922
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 6,058 14,192
Proceeds from maturities/calls of investment securities held-to-maturity 3,297 2,973
Proceeds from sales of investment securities available-for-sale 0 18,530
Purchases of investment securities available-for-sale (1,405) (19,047)
Purchases of investment securities held-to-maturity 0 (4,188)
Proceeds from sales of other real estate owned 1,637 538
Proceeds from disposal of fixed assets 0 1
Net decrease in FHLB stock 872 5
Net increase in loans (23,969) (4,913)
Purchases of loans (25,168) 0
Purchases of premises and equipment (5,413) (2,718)
Net cash (used in)/provided by investing activities (44,091) 5,373
Financing activities    
Net increase in deposits 1,730 23,483
Preferred stock dividends paid 0 (765)
Preferred stock redemption 0 (10,000)
Proceeds from sale of common stock 40 9,349
Rights Offering costs 0 (158)
Cash dividends on common stock (1,274) 0
Net decrease in short-term borrowings (916) (10,776)
Net decrease in long-term borrowings (20,000) (10,808)
Net cash (used in)/provided by financing activities (20,420) 325
(Decrease)/increase in cash and cash equivalents (58,361) 9,620
Cash and cash equivalents at beginning of the year 83,752 63,310
Cash and cash equivalents at end of period 25,391 72,930
Supplemental information    
Interest paid 3,506 3,672
Non-cash investing activities:    
Transfers from loans to other real estate owned $ 294 $ 1,203