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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net income $ 3,425 $ 3,296 $ 3,055
Adjustments to reconcile net income to net cash from operating activities      
Depreciation 587 580 597
Provision for loan losses 188 309 531
Deferred tax benefit (expense) (144) (12) (251)
Loss on sale of repossessed assets, net 33 33 33
FHLB stock dividends 0 50 0
Net amortization on securities 50 29 20
Increased cash value of Bank-owned life insurance (237) (238) (249)
Stock-based compensation expense 164 127 96
Gain/(loss) on sale of bank premises, net (17) 30 0
Changes in:      
Interest receivable 32 (136) (17)
Interest payable (6) (5) (37)
Other assets and liabilities 196 (1,501) 500
Net cash provided by operating activities 4,271 2,562 4,278
Securities available for sale:      
Purchases (1,040) 0 (2,000)
Maturities, calls and repayments 3,232 2,750 2,335
Securities held-to-maturity:      
Purchases (740) 0 0
Net change in loans (18,252) (11,777) (23,005)
Proceeds from sale of OREO and other repossessed assets 2,136 113 293
Proceeds from the disposition of premises and equipment 1,173 1,344 8
Bank premises and equipment expenditures (193) (853) (569)
Net cash (used in) investing activities (13,684) (8,423) (22,938)
Cash flows from financing activities      
Net change in deposits (2,145) 17,463 12,869
Increase (decrease) in federal funds purchased 0 (1,757) 1,757
FHLB advances 10,000 10,500 9,000
Repayments of FHLB advances (5,118) (10,616) (9,114)
Cash dividends paid (1,060) (843) (718)
Treasury stock purchases (736) 0 0
Issuance of treasury stock under stock option plans 26 33 12
Issuance of treasury stock for deferred compensation plan 0 61 69
Issuance of common stock for stock option plans 47 12 0
Issuance of common stock for deferred compensation plan 143 40 0
Net cash provided by financing activities 1,157 14,893 13,875
Net change in cash equivalents and federal funds sold (8,256) 9,032 (4,785)
Cash equivalents and federal funds sold at beginning of year 27,151 18,119 22,904
Cash equivalents and federal funds sold at end of year 18,895 27,151 18,119
Supplemental disclosures      
Cash paid for interest 880 887 1,213
Cash paid for income taxes 1,310 1,630 1,430
Non-cash transfer of loans to foreclosed/repossessed assets $ 281 $ 2,383 $ 191