XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net income $ 142 $ 219
Adjustments to reconcile net income to net cash flows from operating activities:    
Net amortization of premiums and accretion of discounts on investments 42 71
Gain on sale of loans (637) (1,017)
Proceeds from loans sold 24,714 32,564
Loans originated for sale (28,607) (31,900)
Amortization of net deferred loan origination costs 373 310
Depreciation and amortization 227 216
Provision for loan losses 150 112
Expense related to ESOP 40 26
Deferred income tax benefit (7) (42)
Earnings on investment in bank owned life insurance (30) (31)
Increase in accrued interest receivable (27) (47)
Increase in other assets (246) (326)
Increase (Decrease) in other liabilities 178 (415)
Net cash flows from operating activities (3,688) (260)
INVESTING ACTIVITIES    
Purchases of securities available-for-sale (500) (3,503)
Proceeds from maturities and calls of securities available-for-sale   1,000
Proceeds from principal paydowns on securities available-for-sale 915 1,830
Purchases of securities held-to-maturity (415)  
Proceeds from maturities and calls of securities held-to-maturity 460 715
Proceeds from principal paydowns on securities held-to-maturity 168 90
Net increase in loans (8,388) (16,300)
Purchase of restricted stock, net (222) (23)
Purchase of premises and equipment (68) (240)
Net cash flows from investing activities (8,050) (16,431)
FINANCING ACTIVITIES    
Net increase in deposits 5,273 18,901
Proceeds from long-term borrowings 19,000 6,501
Repayments on long-term borrowings (8,829) (7,666)
Repayments on short-term borrowings, net (6,000) (500)
Stock based compensation 152  
Net (decrease) increase in official bank checks (532) 277
Net cash flows from financing activities 9,064 17,513
Change in cash and cash equivalents (2,674) 822
Cash and cash equivalents at beginning of period 10,397 7,407
Cash and cash equivalents at end of period 7,723 8,229
CASH PAID DURING THE PERIOD FOR:    
Interest 1,718 $ 1,241
Income taxes $ 206