XML 19 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,129 $ 2,376
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 550 600
Depreciation 216 237
Amortization of intangible assets 34 41
Deferred income taxes (127) (347)
Net amortization of securities premiums and discounts 463 591
Net realized gain on sales of securities (142) (6)
Gain on sale of deposits 0 (209)
Earnings and proceeds on bank owned life insurance (273) (255)
(Gain) loss on sales and writedowns of fixed assets and foreclosed real estate owned (47) 455
Compensation expense related to stock options 59 23
Compensation expense related to restricted stock 51 36
Decrease in accrued interest receivable 29 111
Increase (decrease) in accrued interest payable 22 (160)
Other, net (1,920) (252)
Net cash provided by operating activities 2,044 3,241
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales 10,761 4
Proceeds from maturities and principal reductions on mortgage-backed securities 7,724 7,389
Purchases (8,179) 0
Purchase of regulatory stock (765) (760)
Redemption of regulatory stock 1,725 940
Net increase in loans (11,925) (5,782)
Purchase of premises and equipment (160) (44)
Proceeds from sales of fixed assets and foreclosed real estate owned 412 409
Net cash (used in) provided by investing activities (407) 2,156
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 10,765 19,896
Deposits sold 0 (13,659)
Net decrease in short-term borrowings (12,625) (4,428)
Repayments of other borrowings (2,852) (13,124)
Proceeds from other borrowings 0 10,000
Stock options exercised 75 381
Purchase of treasury stock (179) (463)
Cash dividends paid (1,376) (1,332)
Net cash used in financing activities (6,192) (2,729)
(Decrease) increase in cash and cash equivalents (4,555) 2,668
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 16,697 17,174
CASH AND CASH EQUIVALENTS, END OF PERIOD 12,142 19,842
Supplemental Disclosures of Cash Flow Information    
Interest on deposits and borrowings 1,200 1,097
Income taxes paid, net of refunds 19 11
Supplemental Schedule of Noncash Investing Activities:    
Transfers of loans to foreclosed real estate owned and repossession of other assets 203 53
Cash dividends declared 1,376 $ 1,333
Investment maturity receivable $ 2,009