XML 103 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net Income $ 5,605 $ 5,302
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,666 930
Stock based compensation expense 106  
Net amortization and accretion of premiums and discounts on securities 398 413
(Gain) on sales of available-for-sale securities (394)  
(Gain) on sales of loans held for sale (4,254) (2,918)
Proceeds from sales of loans held for sale 165,097 119,205
Origination of loans held for sale (163,394) (115,331)
Provision for loan losses 523 716
Loss on sale of other real estate owned 19 39
Impairment of other real estate owned 287 185
Benefit for deferred income taxes (17) (132)
Bank owned life insurance income (679) (341)
(Increase) in interest receivable (124) (29)
(Increase) in other assets (805) (258)
Decrease in income taxes receivable 1,226 264
Increase in interest payable 46 16
Increase in other liabilities 286 512
Net cash provided by operating activities 5,592 8,573
Cash flows from investing activities    
Proceeds from calls of securities held-to-maturity   2,000
Purchases of securities available-for-sale (16,991) (998)
Proceeds from maturities, calls and paydowns of securities available-for-sale 3,171 2,204
Proceeds from sale of securities available-for-sale 9,733  
(Purchase) redemption of Federal Home Loan Bank stock (44) 43
Proceeds from sale of other real estate owned 570 846
Origination of loans, net of principal collected (44,566) (40,560)
Purchases of premises and equipment (4,398) (2,301)
Net cash (used in) investing activities (52,525) (38,766)
Cash flows from financing activities    
Net increase in deposits 37,416 44,550
Principal payments on finance lease obligations (156)  
Repurchase of common stock (315)  
Dividends paid to common stockholders (1,226) (1,050)
Net cash provided by financing activities 35,719 43,500
(Decrease) increase in cash and cash equivalents (11,214) 13,307
Cash and cash equivalents at beginning of period 50,325 37,018
Cash and cash equivalents at end of period 39,111 50,325
Non cash transactions    
Transfer of loans to other real estate owned 785 850
Fair value adjustment for securities available-for-sale 2,833 (979)
Lease liabilities arising from right-of-use assets 6,373  
Cash transactions    
Cash paid for interest 5,218 3,779
Cash paid for income taxes $ 120 $ 1,275