XML 22 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 3,241 $ 2,252
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan and lease losses 200
Provision for depreciation and amortization 506 529
Amortization of core deposit intangible 55 56
Amortization of debt issuance costs 11 11
Compensation expense associated with stock options 3 5
Compensation expense associated with restricted stock 71 65
Tax benefits from vesting of restricted stock (31)
Net gain on sale or call of securities (36) (66)
Amortization of investment premiums and accretion of discounts, net 511 471
Amortization of held-to-maturity fair value adjustments (17)
(Gain) on disposal of fixed assets (5)
(Gain) loss on sale of OREO (16) 71
Increase in cash surrender value of life insurance (129) (144)
Life insurance death benefit (502)
(Decrease) increase in deferred compensation and salary continuation plans (1) 18
Increase in deferred loan fees and costs (3) (122)
Decrease in other assets 488 1,233
Increase (decrease) in other liabilities 682 (164)
Net cash provided by operating activities 5,347 3,896
Cash flows from investing activities:    
Proceeds from maturities and payments of available-for-sale securities 7,910 4,317
Proceeds from sale of available-for-sale securities 19,398 13,927
Purchases of available-for-sale securities (20,334) (24,623)
Investment in qualified affordable housing partnerships (31) (7)
Loan originations, net of principal repayments (23,136) (7,837)
Net repayment on loan pools 2,861 1,630
Purchase of premises and equipment (48) (206)
Proceeds from the sale of other real estate owned 51
Proceeds from life insurance policy 2,249
Net cash used in investing activities (13,329) (10,550)
Cash flows from financing activities:    
Net (decrease) increase in demand deposits and savings accounts (40,959) 1,658
Net decrease in certificates of deposit (13,022) (1,834)
Advances on term debt 70,000
Repayment of term debt (40,900) (250)
Proceeds from stock options exercised 113 218
Cash paid when directly withholding shares for tax-withholding purposes (111) (85)
Cash dividends paid on common stock (486) (401)
Net cash used in financing activities (25,365) (694)
Net decrease in cash and cash equivalents (33,347) (7,348)
Cash and cash equivalents at beginning of year 66,970 68,407
Cash and cash equivalents at end of period 33,623 61,059
Supplemental disclosures of cash flow activity:    
Interest 1,043 924
Supplemental disclosures of non cash investing activities:    
Transfer of loans to other real estate owned 60 121
Unrealized (loss) gain on investment securities available-for-sale (3,443) 452
Changes in net deferred tax asset related to changes in unrealized loss (gain) on investment securities available-for-sale 1,017 (186)
Changes in accumulated other comprehensive income due to changes in unrealized (loss) gain on investment securities available-for-sale (2,426) 266
Accretion of held-to-maturity investment securities from other comprehensive income to interest income (17)
Changes in deferred tax related to accretion of held-to-maturity investment securities 7
Changes in accumulated other comprehensive income due to accretion of held-to-maturity investment securities (10)
Reclassification of accumulated other comprehensive income due to tax rate change 52
Supplemental disclosures of non cash financing activities:    
Stock issued under employee plans 45 42
Cash dividend declared on common shares and payable after period-end $ 486 $ 404