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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities    
Net income $ 2,015 $ 1,604
(Accretion), amortization and depreciation:    
Securities 19 42
Bank premises and equipment 371 327
Core deposit intangible 121 126
Modification fees on Federal Home Loan Bank of Boston advances 58 57
Subordinated debt issuance costs 6 6
Mortgage servicing rights 11 68
Fair value adjustment on loans (285) (495)
Fair value adjustment on deposits (11) (24)
(Gains) and losses, including write-downs    
Loss on CRA mutual fund 13
Loss on securities available-for-sale, net 2
Gains on sales of loans, excluding capitalized servicing rights (10) (36)
Write-downs of other real estate owned (52) (144)
Provision for loan losses 326 352
Proceeds from loans sold 679 1,881
Loans originated for sale (1,898)
(Increase) decrease in deferred loan origination fees and costs, net (92) 152
Mortgage servicing rights originated (6) (25)
Increase in mortgage servicing rights impairment reserve 2
Increase in interest receivable (39) (7)
Deferred tax benefit (18)
Increase in prepaid expenses (170) (269)
Increase in cash surrender value of life insurance policies (81) (88)
Decrease in income tax receivable 625 293
Decrease in other assets 70 813
Decrease in accrued expenses (821) (130)
Increase in interest payable 208 149
Decrease in other liabilities (56) (64)
Stock based compensation - restricted stock awards 113 61
Net cash provided by operating activities 3,100 3,041
Investing Activities    
Purchase of Federal Home Loan Bank of Boston stock (333) (299)
Purchases of securities available-for-sale (7,999) (5,016)
Reinvestment of CRA mutual fund (4)
Proceeds from calls of securities available-for-sale 500 2,990
Proceeds from maturities of securities available-for-sale 4,767 4,774
Loan originations and principle collections, net (28,630) (1,777)
Recoveries of loans previously charged off 14 83
Capital expenditures (794) (503)
Net cash (utilized) provided by investing activities (32,479) 252
Financing Activities    
Increase (decrease) in deposit transaction accounts, net 10,029 (6,920)
Increase (decrease) in time deposits, net 6,324 (2,410)
Increase (decrease) in securities sold under agreements to repurchase, net 2,294 (3,185)
Federal Home Loan Bank of Boston advances 35,000 15,500
Principal payments on Federal Home Loan Bank of Boston advances (27,000)
Principal payments on note payable (8) (9)
Decrease in capital lease obligation (29) (1)
Stock options exercised 42 313
Common stock dividends paid (780) (774)
Net cash provided by financing activities 25,872 2,514
Net (decrease) increase in cash and cash equivalents (3,507) 5,807
Cash and cash equivalents, beginning of period 48,486 35,485
Cash and cash equivalents, end of period 44,979 41,292
Cash paid (received) during period    
Interest 1,045 765
Income taxes (162) 300
Non-cash investing and financing activities    
Capital lease obligation 1,373
Transfer from loans to other real estate owned 204
Adoption of new accounting principle $ 16