XML 19 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net income $ 194,000 $ 1,518,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 194,000 200,000
Amortization of securities, net 147,000 128,000
Net change in deferred loan fees and costs (107,000) 2,000
Depreciation and amortization expense 422,000 385,000
Increase in accrued interest receivable (17,000) (47,000)
Income from bank-owned life insurance (105,000) (102,000)
Stock-based compensation expense 536,000 431,000
Excess tax benefit on share-based compensation (26,000) (25,000)
Gain on sale of loans (23,000) (153,000)
Loans originated for sale (911,000) (2,964,000)
Proceeds from sales of loans 663,000 4,107,000
Gain on sale of securities available for sale   (21,000)
Gain on sale of securities held to maturity   (39,000)
Net change in other assets and liabilities 45,000 1,382,000
Net cash provided by operating activities 1,012,000 4,802,000
Activity in securities available for sale:    
Maturities, prepayments and calls 3,538,000 2,580,000
Purchases (4,561,000) (2,544,000)
Proceeds from sale of securities 0 204,000
Maturities, prepayments and calls 593,000 181,000
Purchases (2,494,000) (573,000)
Proceeds from sale of securities   663,000
Purchase of Federal Home Loan Bank stock (330,000) (26,000)
Redemption of Federal Home Loan Bank stock 922,000  
Purchase of Bankers Bank Northeast stock   (60,000)
Loan originations, net (3,229,000) (10,542,000)
Principal balance of loans purchased (20,246,000) (12,350,000)
Purchase of premises and equipment (718,000) (480,000)
Proceeds from sale of premises and equipment   77,000
Net cash used by investing activities (26,525,000) (22,870,000)
Cash flows from financing activities:    
Net change in deposits 32,782,000 25,372,000
Net change in Federal Home Loan Bank advances with maturities of three months or less (6,750,000) (6,500,000)
Proceeds from Federal Home Loan Bank advances with maturities greater than three months 3,500,000 5,000,000
Repayments of Federal Home Loan Bank advances with maturities greater than three months (5,500,000) (2,500,000)
Net change in mortgagors' escrow accounts 247,000 192,000
Repurchase of common stock (74,000) (369,000)
Cash dividends paid on common stock (347,000) (323,000)
Exercise of stock options   11,000
Excess tax benefit on share-based compensation 26,000 25,000
Net cash provided by financing activities 23,884,000 20,908,000
Net change in cash and cash equivalents (1,629,000) 2,840,000
Cash and cash equivalents at beginning of period 7,758,000 4,918,000
Cash and cash equivalents at end of period 6,129,000 7,758,000
Supplementary information:    
Interest paid on deposit accounts 1,868,000 1,076,000
Interest paid on advances 601,000 643,000
Income taxes paid 647,000 1,266,000
Change in due to broker for investment purchases $ (2,505,000) $ 2,505,000