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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net income $ 3,915 $ 3,487
(Accretion), amortization and depreciation:    
Securities 29 77
Bank premises and equipment 820 648
Core deposit intangible 236 253
Modification fees on Federal Home Loan Bank of Boston advances 116 114
Subordinated debt issuance costs 12 11
Mortgage servicing rights 23 136
Fair value adjustment on loans (462) (744)
Fair value adjustment on deposits (21) (47)
(Gains) and losses, including write-downs    
(Gain) loss and write-downs on sales and calls of securities available-for-sale, net (16) 14
Loss on CRA mutual fund 20
Gains on sales of loans, excluding capitalized servicing rights (10) (59)
Write-downs of other real estate owned 53 145
Loss on sale/disposals of premises and equipment 1 1
Provision for loan losses 793 716
Proceeds from loans sold 679 3,463
Loans originated for sale (206) (3,998)
(Increase) decrease in deferred loan origination fees and costs, net (161) 47
Mortgage servicing rights originated (7) (38)
Increase in mortgage servicing rights impairment reserve 1
(Increase) decrease in interest receivable (355) 133
Deferred tax benefit (152)
Increase (decrease) in prepaid expenses 129 (104)
Increase in cash surrender value of life insurance policies (163) (173)
Decrease in income tax receivable 606 76
Increase (decrease) in other assets (17) 802
Increase in accrued expenses (317) (996)
Increase (decrease) in interest payable 123 (2)
Increase in other liabilities (109) 58
Stock based compensation - restricted stock awards 208 122
Net cash provided by operating activities 5,767 4,143
Investing Activities    
Purchase of Federal Home Loan Bank of Boston stock, net of redemptions (1,175) (241)
Purchases of securities available-for-sale (26,248) (25,116)
Proceeds from sales of securities available-for-sale 8,410
Proceeds from calls of securities available-for-sale 945 9,221
Proceeds from maturities of securities available-for-sale 8,706 14,547
Reinvestment of CRA mutual fund (10)
Loan originations and principle collections, net (63,442) (2,091)
Recoveries of loans previously charged off 27 100
Proceeds from sales of other real estate owned 188 177
Capital expenditures (1,097) (795)
Cash and cash equivalents (paid) acquired from acquisition (298) 22,375
Net cash (utilized) provided by investing activities (73,994) 18,177
Financing Activities    
Increase (decrease) in deposit transaction accounts, net 56,901 (2,418)
Increase (decrease) in time deposits, net 16,783 603
Decrease in securities sold under agreements to repurchase, net 23 (3,409)
Federal Home Loan Bank of Boston advances 52,000 10,000
Principal payments on Federal Home Loan Bank of Boston advances (27,000)
Principal payments on note payable (16) (17)
Decrease in capital lease obligation (61) (11)
Stock options exercised 145 313
Issuance of shares for directors' fees 81
Common stock dividends paid (1,561) (1,555)
Net cash provided by financing activities 97,214 3,587
Net increase in cash and cash equivalents 28,987 25,907
Cash and cash equivalents, beginning of period 48,486 35,485
Cash and cash equivalents, end of period 77,473 61,392
Cash paid (received) during period    
Interest 2,784 1,903
Income taxes 516 1,133
Non-cash investing and financing activities    
Capital lease obligation 403
Transfer from loans to other real estate owned 1,373
Adoption of new accounting principle 16
Branch Acquisitions    
Cash and cash equivalents (paid) acquired (298) 22,375
Net loans acquired 7,849 7,097
Fixed assets acquired (including capital lease in previous year) 761 1,605
Accrued interest receivable acquired 5 12
Other assets acquired 6 20
Core deposit intangible 632
Goodwill 1,275
Deposits assumed 8,323 31,433
Capital lease assumed 1,580
Other liabilities assumed $ 3