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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Cash Flows From Operating Activities          
Net income     $ 4,223 $ 3,159  
Adjustments to reconcile net income to net cash provided by operating activities:          
Amortization and accretion of premiums and discounts on investments, net     169 265  
Net realized loss on sales and calls of securities     40 22  
Provision for loan losses $ 450 $ 525 2,010 1,575 $ 2,100
Loans originated for sale     (32,392) (26,937)  
Proceeds from sale of loans     30,807 29,146  
Net gain on sale of loans     (367) (435)  
Amortization of intangible assets 10 11 32 32  
Depreciation and amortization     969 866  
Impairment loss on goodwill       95  
Write-down of other real estate owned       387  
Deferred income tax expense     (224) (12)  
Increase in cash surrender value of insurance (100) (101) (300) (300)  
Increase in accrued interest receivable     (270) (269)  
Increase (decrease) in other assets     1,213 (788)  
Increase in accrued expenses and other liabilities     1,258 7  
Net cash provided by operating activities     7,168 6,813  
Cash Flows from Investing Activities          
Proceeds from sales and calls of securities     5,554 2,113  
Proceeds from maturities and principal repayments of securities     11,952 11,881  
Purchases of securities     (28,388) (3,885)  
Net purchases of FHLB Stock     (725) (1,766)  
Net increase in loans     (80,656) (89,224)  
Purchases of bank owned life insurance     (41) (41)  
Purchases of bank premises and equipment     (2,500) (434)  
Proceeds from sale of other real estate owned     180 108  
Net cash used in investing activities     (94,624) (81,248)  
Cash Flows from Financing Activities          
Net increase in demand deposits, NOW, money market and savings accounts     31,429 30,911  
Net increase in time deposits     54,138 10,702  
Decrease in mortgagors' escrow accounts     (4,032) (3,763)  
Net (decrease) increase in short-term debt     (13,954) 20,537  
Net increase in long-term debt     25,292 18,184  
Proceeds of stock subscriptions     9,814    
Return of unfulfilled stock subscriptions     (41,082)    
Loan to ESOP     (4,364)    
Offering expenses     (1,898)    
Return of capital to Rhinebeck Bancorp, MHC     (121)    
Net cash provided by financing activities     55,222 76,571  
Net (decrease) increase in cash and due from banks     (32,234) 2,136  
Cash and Due from Banks          
Beginning balance     50,590 10,460 10,460
Ending balance $ 18,356 $ 12,596 18,356 12,596 $ 50,590
Cash paid for:          
Interest     6,424 3,483  
Income taxes     $ 1,040 $ 368