XML 23 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities:    
Net income $ 5,138 $ 4,804
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 1,806 1,802
Provision for credit losses 1,105 1,130
Stock based compensation 342 267
Net gain on sale of securities (78) (858)
Net loss on sale and write down of OREO and other repossessed property 134 7
Earnings from investment in BOLI (228) (235)
Deferred tax benefit (88) (226)
Proceeds from sales of loans 18,739 3,645
Loans originated for sale (17,467) (4,170)
Gain on sale of loans, net (655) (92)
Write off of property and equipment 698  
(Increase) decrease in accrued interest receivable (157) 44
(Increase) decrease in other assets (475) 799
Decrease in accrued interest payable (6) (25)
(Decrease) increase in other liabilities (260) 260
Net Cash Provided By Operating Activities 8,548 7,152
Cash Flows From Investing Activities:    
Activity in available-for-sale securities: Sales 17,988 39,333
Activity for available-for-sale securities: Maturities, repayments and calls 58,262 25,805
Activity in available-for-sale securities: Purchases (57,928) (114,425)
Activity in held-to-maturity securities: Sales   1,612
Activity in held-to-maturity securities: Maturities, repayments and calls 1,822 4,756
Activity in held-to-maturity securities: Purchases (10,093)  
Net (increase) decrease in restricted stock (860) 316
Net increase in loans (29,020) (41,196)
Purchases of office property and equipment (661) (344)
Expenses capitalized in OREO (202)  
Proceeds from sale of OREO and other repossessed property 177 288
Net Cash Used in Investing Activities (20,515) (83,855)
Cash Flows From Financing Activities:    
Net increase in deposits 1,192 46,336
Repayment of FHLBP advances (10,000)  
Funding of FHLBP advances 20,000 10,000
Net increase (decrease) in repurchase agreements 13,195 (633)
Proceeds from issuance of subordinated debt 9,750  
Decrease in other borrowings (41) (36)
Dividends paid (834) (906)
Proceeds from the exercise of stock options 402 39
Taxes on stock option exercise and share award vest (469) (23)
Redemption of preferred stock (13,000)  
Sale of treasury stock 387 370
Net Cash Provided by Financing Activities 20,582 55,147
Net Change in Cash and Cash Equivalents 8,615 (21,556)
Cash and Cash Equivalents at Beginning of Period 12,504 34,060
Cash and Cash Equivalents at End of Period 21,119 12,504
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the period for: Interest 2,718 2,336
Cash paid during the period for: Income taxes 1,777 872
Supplemental Disclosure of Non-cash Flow Information:    
Transfers from loans to other real estate owned and other repossessed property $ 1,789 $ 100