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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 1,840 $ 2,839
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 479 679
Provision for loan losses 1,050
Net amortization on securities 146 189
Stock-based compensation expense 106 82
Deferred taxes, net 535 295
Net write-down of other real estate owned 150
Impairment of premises held for sale 25
Increase in cash surrender value of life insurance, net of premium expense (91) (93)
Amortization of operating lease right-of-use assets 187 62
Net change in accrued interest receivable and other assets (334) (668)
Net change in accrued interest payable and other liabilities (1,215) (2,671)
Net cash from operating activities 2,728 864
Cash flows from investing activities    
Purchases of available for sale securities (6,869) (8,096)
Proceeds from sales and calls of available for sale securities 6,000 1,000
Proceeds from maturities and prepayments of available for sale securities 6,940 3,683
Purchases of Federal Home Loan Bank stock (600)
Proceeds from mandatory redemptions of Federal Home Loan Bank stock 420
Net changes in loans (35,712) (22,002)
Purchases of premises and equipment (390) (37)
Net cash from investing activities (30,631) (25,032)
Cash flows from financing activities    
Net change in deposits 30,925 14,611
Repayment of Federal Home Loan Bank advances (95,040) (30,038)
Advances from Federal Home Loan Bank 95,000 35,000
Common shares withheld for taxes (37) (276)
Net cash from financing activities 30,848 19,297
Net change in cash and cash equivalents 2,945 (4,871)
Beginning cash and cash equivalents 30,203 35,361
Ending cash and cash equivalents 33,148 30,490
Supplemental cash flow information:    
Interest paid 3,919 3,193
Supplemental non-cash disclosure:    
Transfer from loans to other real estate
Transfer from premises and equipment to premises held for sale 310
Initial recognition of right-of-use lease assets $ 507