XML 23 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities    
Net Income $ 3,692 $ 3,413
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 767 756
Net amortization and accretion of premiums and discounts on securities 110 237
(Gain) on sales of available for-sale-securities (49) (143)
(Gain) on sales of loans held for sale (2,278) (1,716)
Provision for loan losses 282 55
Loss on sale of other real estate owned 6 21
(Benefit) expense for deferred income taxes (74) 362
Amortization of tax credit investment 114 247
(Increase) in cash value of life insurance (269) (282)
(Increase) decrease in interest receivable (2) 114
(Increase) decrease in other assets (154) 114
(Increase) in income taxes receivable (151) (497)
Increase (decrease) in interest payable 3 (7)
(Decrease) increase in other liabilities (69) 177
Proceeds from sales of loans held for sale 79,893 65,152
Origination of loans held for sale (78,549) (62,545)
Writedown on other real estate owned 75 167
Net cash provided by operating activities 3,347 5,625
Cash flows from investing activities    
Proceeds from maturities and calls of securities held-to-maturity   1,000
Purchases of securities available-for-sale (27,019) (3,140)
Proceeds from maturities, calls and paydowns of securities available-for-sale 1,622 120
Proceeds from sale of securities available-for-sale 13,440 27,708
Redemption (purchase) of Federal Home Loan Bank stock 426 (311)
Proceeds from sale of other real estate owned 360 474
Origination of loans, net of principal collected (37,579) (54,801)
Capital improvements to other real estate owned (25)  
Purchases of premises and equipment (1,512) (1,342)
Net cash (used in) investing activities (50,287) (30,292)
Cash flows from financing activities    
Net increase in deposits 68,113 12,099
Net (decrease) in federal funds purchased (3,189) (919)
Net (decrease) increase in Federal Home Loan Bank advances (12,000) 10,000
Dividends paid to common stockholders (803) (506)
Proceeds from sale of 1,000,000 shares of common equity 10,653  
Proceeds from exercise of stock options 78 65
Net cash provided by financing activities 62,852 20,739
Increase (decrease) in cash and cash equivalents 15,912 (3,928)
Cash and cash equivalents at beginning of period 12,743 16,671
Cash and cash equivalents at end of period 28,655 12,743
Non cash transactions    
Transfer of loans to other real estate owned 1,425 473
Loans made to finance the sale of other real estate owned   306
Fair value adjustment for securities (304) 3,077
Cash transactions    
Cash paid for interest 2,688 2,332
Cash paid for taxes $ 1,875 $ 1,425