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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income (loss) $ 1,879 $ 341
Adjustments to reconcile net loss to cash provided by operating activities:    
(Credit) provision for loan losses (1,420) (789)
Depreciation and amortization expense 605 566
Net (gain) loss on sales of foreclosed assets (95) 60
Writedowns on foreclosed real estate 0 38
Gain on sale of mortgage servicing rights 0 (281)
Mortgage banking activity:    
Gain on sales of mortgage loans (663) (484)
Mortgage loans originated for sale (24,259) (25,359)
Proceeds from sale of mortgage loans 24,106 26,087
Net amortization of investment premiums and discounts 335 4
Net gain on sale of investments (1,373) (1,227)
Stock-based compensation 99 19
Cash surrender value of bank owned life insurance (197) (195)
Net change in:    
Accrued income receivable 90 (104)
Deferred loan fees 16 (21)
Other assets 473 (628)
Other liabilities 158 (356)
Net cash (used in)/provided by operating activities (246) (2,329)
Cash flows from investing activities    
Proceeds from maturities, calls and repayments of available-for-sale securities 14,512 27,403
Proceeds from sale of available-for-sale securities 25,600 18,124
Proceeds from principal repayments and maturities of held-to-maturity securities 2,791 3,643
Redemption of Federal Home Loan Bank stock 0 896
Purchase of available-for-sale securities (16,787) (72,129)
Loan originations net of principal payments (16,768) (842)
Purchase of premises and equipment (399) (472)
Proceeds from the sale of mortgage servicing rights 0 1,217
Proceeds from the sale of commercial loans 0 4,580
Proceeds from the sale of foreclosed assets 430 1,681
Net cash (used in)/provided by investing activities 9,379 (15,899)
Cash flows from financing activities    
Net change in time deposits (7,408) (8,041)
Net change in other deposit accounts 3,752 (5,895)
Proceeds from FHLB advances 21,597 47,500
Repayment of FHLB advances (17,628) (26,237)
Net change in mortgagors' escrow accounts (2,200) (2,013)
Change in other borrowings 0 (4,173)
Net cash provided by/(used in) financing activities (1,887) 1,141
Net change in cash and cash equivalents 7,246 (17,087)
Cash and cash equivalents at beginning of period 10,940 26,374
Cash and cash equivalents at end of period 18,186 9,287
Non-cash investing activities:    
Transfer of loans to foreclosed assets 423 391
Transfer of commercial loans to loans held for sale 0 3,957
Interest paid 2,332 2,313
Unrealized (losses) gains on available for sale securities arising during the period $ (1,627) $ 1,226