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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 2,059 $ 919
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,311 2,626
Provision for loan losses 2,050 252
Income on bank owned life insurance (63) (57)
Gain on sale of mortgage loans (138)
Gain on sale and leaseback transactions [1] (803)
Loss on sale of premises and equipment 1 46
Loss on sale of foreclosed real estate 123 135
Loans originated for sale (7,937)
Proceeds from sales of loans originated for sale 12,432
Adjustment of carrying value of foreclosed real estate 214 542
Amortization/accretion of bond premiums/discounts 528 644
Deferred tax expense (benefit) 556 195
Net change in:    
Interest receivable (181) 102
Other assets 265 51
Accrued interest payable 107 161
Accrued expenses and other liabilities 24 (1,215)
Net Cash Provided by Operating Activities 11,548 4,401
CASH FLOWS FROM INVESTING ACTIVITIES    
Net increase in loans (19,632) (37,893)
Proceeds from the sale of loans 1,543
Purchase of securities available-for-sale (790) (967)
Proceeds from repayments and maturities of securities available-for-sale 10,657 11,190
Net (purchase) sale of equity securities (restricted) (14) 21
Payments for the purchase of premises and equipment (1,550) (1,647)
Proceeds from sale and leaseback transactions 550
Proceeds from sale of premises and equipment 9 895
Proceeds from insurance claims on other real estate owned 19
Proceeds from sales of other real estate owned 1,322 1,405
Net Cash Used in Investing Activities (9,429) (25,453)
CASH FLOWS FROM FINANCING ACTIVIES    
Net change in short term borrowings (5,630) 3,072
Net change in non-interest bearing deposits 6,484 9,667
Net change in interest bearing deposits 19,001 3,781
Net Cash Provided by Financing Activities 19,855 16,520
Net increase (decrease) in cash and cash equivalents 21,974 (4,532)
Cash and Cash Equivalents, Beginning of the Year 28,173 32,705
Cash and Cash Equivalents, End of the Year 50,147 28,173
Supplemental Disclosure of Cash Paid During the Year for:    
Interest 5,872 4,104
Taxes (34) 320
Supplemental Disclosure of Non Cash Transactions:    
Right-of-use assets obtained in exchange for new operating lease liabilities 1,232
Transfer of loans to loans held for sale 4,359
Loan made to finance sale of premises and equipment 752
Other real estate acquired in settlement of foreclosed loans 811 1,719
Loans made to finance sale of foreclosed real estate 2,360 569
Transfer of premises and equipment to other real estate 683
Change in unrealized gains (losses) on securities available for sale $ 1,637 $ (813)
[1] Not within the scope of ASU 2014-9