XML 18 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net income $ 5,753 $ 5,522
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 682 716
Depreciation 1,529 1,117
Stock compensation 134 116
Gains on sales of other real estate owned (11) (183)
Write-downs of other real estate owned 828 478
Originations of loans held for sale (6,122) (7,166)
Proceeds from sale of loans held for sale 5,861 6,820
Gains from sale of loans held for sale (45) (55)
Losses on disposal of fixed assets 1  
Net (accretion)/amortization of investment securities discounts and premiums- AFS (2) 27
Net amortization of investment securities discounts and premiums- HTM 20 40
Gains on sales/calls of investment securities – available-for-sale   (126)
Earnings on bank owned life insurance (591) (584)
Amortization of deferred loan fees (336) (358)
Amortization of operating lease right-of-use asset 136  
Increase in accrued interest receivable and other assets (5,138) (1,673)
Increase in deferred tax benefit (2) (744)
Decrease in operating lease liability (140)  
(Decrease)/increase in accrued interest payable and other liabilities (666) 2,203
Net cash provided by operating activities 1,891 6,150
Investing activities    
Proceeds from maturities/calls of investment securities available-for-sale 4,228 6,058
Proceeds from maturities/calls of investment securities held-to-maturity 3,323 3,297
Proceeds from sales of investment securities available-for-sale 5,378  
Purchases of investment securities available-for-sale (4,744) (1,405)
Purchases of investment securities held-to-maturity (6,832)  
Proceeds from sales of other real estate owned 870 1,637
Net decrease in FHLB stock 979 872
Net decrease/(increase) in loans 4,367 (23,969)
Purchase of loans   (25,168)
Purchases of premises and equipment (1,813) (5,413)
Net cash provided by/(used in) investing activities 5,756 (44,091)
Financing activities    
Net increase in deposits 55,554 1,730
Proceeds from sale of common stock 78 40
Cash dividends on common stock (1,279) (1,274)
Net decrease in short-term borrowings (46,552) (916)
Payments on long-term borrowings   (20,000)
Net cash provided by/(used in) financing activities 7,801 (20,420)
Increase/(decrease) in cash and cash equivalents 15,448 (58,361)
Cash and cash equivalents at beginning of the year 23,541 83,752
Cash and cash equivalents at end of period 38,989 25,391
Supplemental information    
Interest paid 5,562 3,506
Taxes paid 671  
Non-cash investing activities:    
Transfers from loans to other real estate owned 620 $ 294
Initial recognition of operating lease right-of-use assets 2,730  
Initial recognition of operating lease liabilities $ 3,317