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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 3,889 $ 1,019
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision (credit) for loan losses (164) (1,997)
Depreciation 486 290
Stock based compensation 261 333
Deferred income taxes (304) 42
Net accretion of discounts and premiums for investment securities (82) (71)
(Gains)/Losses on:    
Sale of repossessed assets, net 14 (33)
Sale of loans, net 0 (83)
Sale of assets, net 0 32
Loans originated for sale and principal collections, net 2,107 1,351
Changes in:    
Other assets (1,633) 537
Other liabilities (208) (6)
Servicing rights, net 50 44
Net cash provided by operating activities 4,416 1,458
Cash flows from investing activities:    
Principal pay downs and maturities of available-for-sale securities 9,483 5,635
Purchase of available-for-sale securities (7,840) (7,416)
Purchases of securities held-to-maturity (2,697) 0
Proceeds from principal pay downs and maturities of securities held-to-maturity 498 1,189
Loan originations and principal collections, net (60,322) (38,545)
Purchase of restricted stock, net (184) (170)
Net increase in interest-bearing deposits in other financial institutions (1) 0
Purchase of premises and equipment, net (881) (225)
Proceeds from sale of other real estate owned and repossessed assets, net 342 508
Net cash used in investing activities (61,602) (39,024)
Cash flows from financing activities:    
Net increase in deposits 46,263 49,702
Net increase in borrowings (5,000) (5,000)
Exercise of stock options 213 3
Cash dividends paid on common stock (813) (656)
Common stock repurchase (1,337) (21)
Redemption of preferred stock 0 (1,311)
Cash dividends paid on preferred stock 0 (417)
Net cash provided by financing activities 39,326 42,300
Net (decrease) increase in cash and cash equivalents (17,860) 4,734
Cash and cash equivalents at beginning of year 35,519 18,959
Cash and cash equivalents at end of period 17,659 23,693
Cash paid during the period for:    
Interest 2,226 1,830
Income taxes 4,200 650
Non-cash investing and financing activity:    
Transfers to other assets acquired through foreclosure, net $ 213 $ 544