XML 49 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 2,154 $ 2,829
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 640 598
Provision (reduction in reserve) for loan losses (199) 95
Deferred income tax provision 846 1,540
Net gain on sale of securities (359) (103)
Stock-based compensation expense 302 395
Gain on dissolution of partnership   (221)
Net amortization of securities 1,268 824
Net loss on premises and equipment and other real estate 657 473
Changes in assets and liabilities:    
Decrease in accrued interest receivable 445 461
Decrease in other assets 963 1,037
Decrease in accrued interest expense (32) (37)
Decrease in other liabilities (618) (582)
Net cash provided by operating activities 6,067 7,309
Cash flows from investing activities:    
Purchase of investment securities, available-for-sale (54,410) (69,111)
Purchase of investment securities, held-to-maturity (22,317) (6,549)
Proceeds from sales of investment securities, available-for-sale 15,754 1,095
Proceeds from maturities and prepayments of investment securities, available-for-sale 36,664 24,753
Proceeds from maturities and prepayments of investment securities, held-to-maturity 16,990 5,046
Proceeds from redemption of Federal Home Loan Bank stock (net of purchases) 222 168
Proceeds from the sale of premises and equipment and other real estate 2,849 3,708
Proceeds from dissolution of partnership   1,000
Net change in loan portfolio 19,759 30,697
Purchase of premises and equipment (3,111) (1,008)
Net cash used in investing activities 12,400 (10,201)
Cash flows from financing activities:    
Net decrease in customer deposits (20,393) (9,761)
Increase (decrease) in short-term borrowings 739 (476)
Repayment of FHLB advances and other borrowings (5,000)  
Dividends paid (363) (60)
Net cash used in financing activities (25,017) (10,297)
Net decrease in cash and cash equivalents (6,550) (13,189)
Cash and cash equivalents, beginning of period 34,166 47,720
Cash and cash equivalents, end of period 27,616 34,531
Cash paid for:    
Interest 1,772 1,954
Income taxes 63 52
Non-cash transactions:    
Foreclosed assets acquired in settlement of loans 2,241 4,965
Reissuance of treasury stock as compensation $ 69 $ 106