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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating Activities      
Net income $ 6,256 $ 6,685 $ 8,457
(Accretion), amortization and depreciation:      
Securities 145 241 240
Bank premises and equipment 1,441 1,181 1,234
Core deposit intangible 533 601 652
Modification fees on Federal Home Loan Bank of Boston advances 234 230
Subordinated debt issuance costs 23 24
Mortgage servicing rights 169 242 356
Fair value adjustment on loans (1,207) (1,784) (2,725)
Fair value adjustment on deposits (78) (121) (417)
(Gains) and losses, including write-downs      
Gain on sales and calls of securities available-for-sale, net (178) (584) (192)
Gains on sales of loans, excluding capitalized servicing rights (95) (171) (125)
Loss on other real estate owned 1,717 435 81
Loss on sale/disposals of premises and equipment 1 13 45
Provision for loan losses 1,020 1,835 917
Proceeds from loans sold 5,440 10,505 8,549
Loans originated for sale (6,014) (9,571) (8,619)
(Increase) decrease in deferred loan origination fees and costs, net (42) (58) 14
Mortgage servicing rights originated (63) (95) (148)
(Decrease) increase in mortgage servicing rights impairment reserve (23) 20 3
(Increase) decrease in interest receivable (229) (117) 27
Deferred tax expense 888 957 945
Decrease (increase) in prepaid expenses 123 (296) (295)
Increase in cash surrender value of life insurance policies (343) (353) (371)
Increase in income tax receivable (173) (178) (512)
Decrease in income taxes payable (86)
Decrease (increase) in other assets 790 (242) (103)
(Decrease) increase in accrued expenses (643) 660 (155)
Increase (decrease) in interest payable 10 (60) (16)
Increase in other liabilities 240 1,086 107
Stock based compensation - restricted stock awards 265 221 227
Tax benefit from stock compensation (33)
Net cash provided by operating activities 10,207 11,273 8,090
Investing Activities      
(Purchase) redemption of Federal Home Loan Bank of Boston stock (602) (35) 339
Purchases of securities available-for-sale (36,654) (56,229) (16,373)
Proceeds from sales of securities available for sale 199 4,865 3,861
Proceeds from calls of securities available-for-sale 16,141 14,221 10,925
Proceeds from maturities of securities available-for-sale 20,427 33,574 14,668
Loan originations and principle collections, net (32,536) (69,240) (24,481)
Recoveries of loans previously charged off 600 126 653
Proceeds from sales of other real estate owned 2,080 855
Capital expenditures (1,954) (1,285) (779)
Net cash and cash equivalents acquired in branch acquisition 22,396
Net cash (utilized) by investing activities (9,903) (74,003) (10,332)
Financing Activities      
Increase in deposit transaction accounts, net 7,578 33,946 56,023
Decrease in time deposits, net (5,208) (6,588) (16,499)
(Decrease) increase in securities sold under agreements to repurchase, net (3,867) 1,621 (249)
Short-term Federal Home Loan Bank of Boston advances 17,000 10,000
Payments made on long-term Federal Home Loan Bank of Boston advances (791)
Principal payments on Federal Home Loan Bank of Boston advances (21)
Modification fees on Federal Home Loan Bank of Boston advances (1,043)
Principal payments on note payable (31) (32)
Decrease in capital lease obligation (59) (4) (2)
Stock options exercised 316 87 183
Tax benefit from stock compensation 33
Issuance of shares for directors' fees 81 141 81
Payoff of preferred stock (16,000)
Issuance of subordinated debt, net of issuance costs 9,764
Common stock dividends paid (3,113) (3,086) (3,054)
Series B preferred stock dividends paid (158)
Net cash provided by financing activities 12,697 36,097 28,255
Net increase (decrease) in cash and cash equivalents 13,001 (26,633) 26,013
Cash and cash equivalents, beginning of year 35,485 62,118 36,105
Cash and cash equivalents, end of year 48,486 35,485 62,118
Cash paid during year      
Interest 4,049 3,777 3,460
Income taxes 2,291 1,238 3,216
Non-cash transfers      
From other real estate owned to loans 167
Note payable to finance building purchase 376
From loans to other real estate owned 743 4,955 101
From other real estate owned to other assets $ 747
Empire State Bank branch acquisition      
Cash and cash equivalents acquired 22,396    
Net loans acquired 7,097    
Fixed assets acquired 1,491    
Accrued interest receivable acquired 12    
Other assets acquired 20    
Core deposit intangible 633    
Goodwill 1,263    
Deposits assumed 31,433    
Capital lease assumed 1,476    
Other liabilities assumed $ 3