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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,150 $ 2,060
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses and unfunded commitments 600 525
Depreciation 564 418
Amortization and accretion 242 279
Net gains on sales of assets   (1)
Net losses on other real estate owned, including write-downs 2 102
Deferred income tax expenses 1,317 402
Stock-based compensation expense, net of employee tax obligation 11 16
Changes in assets and liabilities:    
(Increase) decrease in accrued interest receivable (132) 14
(Increase) decrease in other assets (3,895) 460
Increase in accrued interest payable 125 38
Increase (decrease) in other liabilities 3,579 (1,110)
Net cash provided by operating activities 5,563 3,203
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of securities available for sale (2,582) (4,088)
Proceeds from maturities and paydowns of securities available for sale 4,478 3,606
Proceeds from sales of securities available for sale   2,591
Net increase in loans (14,945) (15,030)
Proceeds from sale of assets   1
Cash received in the purchase of Liberty Bell Bank   11,831
Purchases of premises and equipment (469) (1,028)
Cash paid to shareholders of Liberty Bell Bank   (4,471)
Proceeds from the sales of foreclosed assets 186 689
Proceeds from sales of Federal Home Loan Bank stock 810 551
Purchase of Federal Home Loan Bank stock (919) (451)
Net cash used by investing activities (13,441) (5,799)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in demand, NOW, money market, and savings deposits, net 854 1,633
Cash received for the exercise of stock options   8
Increase in time deposits, net 23,737 13,368
Proceeds from borrowings to fund acquisition of Liberty Bell Bank, net of loan costs   4,450
Decrease in borrowings, net (1,329) (329)
Dividends paid (499) (364)
Net cash provided by financing activities 22,763 18,766
Net increase in cash and cash equivalents 14,885 16,170
Cash and cash equivalents, beginning 29,694 32,582
Cash and cash equivalents, ending 44,579 48,752
Supplementary cash flow information:    
Interest paid 3,545 3,597
Income taxes paid 473 1,240
Total appreciation (depreciation) on securities available for sale 1,604 (971)
SUPPLEMENTARY NON-CASH INVESTING ACTIVITIES    
Fair value of assets acquired, net of cash and cash equivalents   139,701
Fair value of liabilities assumed, net of cash and cash equivalents   139,500
Value of shares provided to Liberty Bell Bank stockholders   12,798
Loans converted to other real estate owned $ 209 $ 335