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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net income $ 6,259 $ 5,180
(Accretion), amortization and depreciation:    
Securities 32 116
Bank premises and equipment 1,249 979
Core deposit intangible 347 395
Modification fees on Federal Home Loan Bank of Boston advances 174 176
Subordinated debt issuance costs 18 17
Mortgage servicing rights 34 149
Fair value adjustment on loans (658) (969)
Fair value adjustment on deposits (30) (64)
(Gains) and losses, including write-downs    
Sales and calls of securities available-for-sale, net (16) 14
CRA mutual fund 26
Sales of loans, excluding capitalized servicing rights (28) (79)
Other real estate owned 91 395
Sales/disposals of premises and equipment 1 1
Provision for loan losses 1,171 953
Proceeds from loans sold 1,946 4,495
Loans originated for sale (1,838) (4,977)
Increase in deferred loan origination fees and costs, net (179) (38)
Mortgage servicing rights originated (18) (53)
(Decrease) increase in mortgage servicing rights impairment reserve (24)
Increase in interest receivable (647) (84)
Deferred tax benefit (471)
Increase in prepaid expenses (167) (59)
Increase in cash surrender value of life insurance policies (246) (259)
Decrease in income tax receivable 839 43
(Increase) decrease in other assets (48) 920
Increase (decrease) in accrued expenses 496 (384)
Increase in interest payable 283 157
Increase (decrease) in other liabilities 1,596 (16)
Stock based compensation - restricted stock awards 334 200
Net cash provided by operating activities 10,550 7,184
Investing Activities    
(Purchases) redemption of Federal Home Loan Bank of Boston stock, net of redemptions (1,175) 173
Purchases of securities available-for-sale (40,035) (36,654)
Proceeds from sales of securities available-for-sale 8,410
Proceeds from calls of securities available-for-sale 995 11,141
Proceeds from maturities of securities available-for-sale 11,554 19,618
Reinvestment of CRA mutual fund (14)
Loan originations and principle collections, net (89,457) (14,776)
Recoveries of loans previously charged off 50 232
Proceeds from sales of other real estate owned 288 177
Capital expenditures (1,209) (1,306)
Cash and cash equivalents (paid) acquired from acquisition (298) 22,387
Net cash (used by) provided by investing activities (110,891) 992
Financing Activities    
Increase in deposit transaction accounts, net 57,502 18,714
Increase in time deposits, net 20,872 136
Increase (decrease) in securities sold under agreements to repurchase, net 4,990 (1,006)
Federal Home Loan Bank of Boston advances 82,000
Principal payments on Federal Home Loan Bank of Boston advances (69,000) (10,000)
Principal payments on note payable (24) (23)
Decrease in capital lease obligation (94) (139)
Proceeds from exercise of stock options 175 312
Issuance of shares for directors' fees 81
Common stock dividends paid (2,346) (2,333)
Net cash provided by financing activities 94,075 5,742
Net (decrease) increase in cash and cash equivalents (6,266) 13,918
Cash and cash equivalents, beginning of period 48,486 35,485
Cash and cash equivalents, end of period 42,220 49,403
Supplemental Cash Flow Information:    
Cash paid for interest 4,585 2,810
Cash paid for income taxes 665 1,958
Non-cash investing and financing activities:    
Transfer from loans to other real estate owned 743
Assets acquired under capital lease 1,373
Adoption of new accounting principle 16
Branch Acquisitions    
Cash and cash equivalents (paid) acquired (298) 22,387
Net loans acquired 7,849 7,097
Fixed assets acquired (including capital leases) 761 1,605
Accrued interest receivable acquired 5 12
Other assets acquired 5 20
Core deposit intangible 632
Goodwill 1,263
Deposits assumed 8,322 31,433
Capital lease assumed 1,580
Other liabilities assumed $ 3