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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating Activities    
Net income $ 6,810,000 $ 4,282,000
Items not requiring (providing) cash    
Depreciation and amortization 1,040,000 974,000
Provision for loan losses 908,000 297,000
Provision for losses on foreclosed real estate 0 70,000
Amortization of premiums and discounts on securities-net 326,000 135,000
Amortization of intangible assets 150,000 42,000
Deferred income taxes 42,000 375,000
Originations of loans held for sale (2,796,000) (3,064,000)
Proceeds from sale of loans held for sale 2,850,000 3,130,000
Net gains on sales of loans (54,000) (66,000)
Amortization of ESOP 272,000 280,000
Expense related to share-based compensation plans 293,000 287,000
Loss on sale of real estate and other repossessed assets 5,000 27,000
Increase in cash surrender value of bank-owned life insurance (81,000) (389,000)
Gain on sale of fixed assets (8,000) 0
AmortizationOfFinancingCosts 36,000 0
Changes in    
Accrued interest receivable (898,000) (660,000)
Other assets (1,188,000) 589,000
Interest payable and other liabilities 910,000 (554,000)
Net cash provided by operating activities 8,617,000 5,755,000
Investing Activities    
Purchases of available-for-sale securities (102,645,000) (78,117,000)
Sale of available-for-sale securities 45,255,000 23,865,000
Sale of interest-bearing time deposits 0 3,461,000
Net change in loans (33,403,000) (34,971,000)
Mandatory redemption of Federal Home Loan Bank Stock 231,000 0
Purchases of bank-owned life insurance (4,000,000) 0
Purchases of premises and equipment, net (1,336,000) (785,000)
Net cash received from acquisition of Powhatan Point Community Bancshares, Inc. 0 23,457,000
Proceeds from sale of premises and equipment 19,000 0
Proceeds from sales of foreclosed assets 86,000 543,000
Net cash used in investing activities (95,793,000) (62,547,000)
Financing Activities    
Net increase in deposits 22,626,000 83,884,000
Proceeds of Federal Home Loan Bank advances 39,800,000 0
Repayments of Federal Home Loan Bank advances (106,000) (9,916,000)
Proceeds from issuance of subordinated debentures, net of origination fees 19,383,000 0
Net change in securities sold under repurchase agreements (1,153,000) (3,017,000)
Repurchase of common stock (416,000)  
Cash dividends paid (3,226,000) (3,221,000)
Net cash provided by financing activities 76,908,000 67,730,000
Decrease (Increase) in Cash and Cash Equivalents (10,268,000) 10,938,000
Cash and Cash Equivalents, Beginning of Year 25,253,000 14,315,000
Cash and Cash Equivalents, End of Year 14,985,000 25,253,000
Supplemental Cash Flows Information    
Interest paid on deposits and borrowings 6,098,000 3,285,000
Federal income taxes paid 25,000 715,000
Supplemental Disclosure of Non-Cash Investing Activities    
Transfers from loans to foreclosed assets held for sale 818,000 $ 280,000
Acquisition, liabilities were assumed    
Fair value of assets acquired 62,328  
Less common stock issued 4,711  
Less cash paid for common stock 1,529  
Liabilities assumed $ 56,088