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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,935 $ 3,948
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses and unfunded commitments 900 825
Depreciation 864 654
Amortization and accretion 368 461
Net gains on sales of assets (97)  
Net losses on other real estate owned, including write-downs 45 143
Deferred income tax expenses 1,444 737
Stock-based compensation expense, net of employee tax obligation 16 26
Changes in assets and liabilities:    
(Increase) decrease in accrued interest receivable 5 (111)
(Increase) decrease in other assets (3,383) 679
Increase in accrued interest payable 176 77
Increase (decrease) in other liabilities 3,699 (1,253)
Net cash provided by operating activities 8,972 6,186
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of securities available for sale (12,084) (8,162)
Proceeds from maturities and paydowns of securities available for sale 9,348 4,743
Proceeds from sales of securities available for sale   2,591
Net increase in loans (2,204) (32,130)
Cash received in the purchase of Liberty Bell Bank   11,831
Purchases of premises and equipment (950) (1,264)
Cash paid to shareholders of Liberty Bell Bank   (4,471)
Proceeds from the sales of foreclosed assets 184 734
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 (5,815) (26,028)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase (decrease) in demand, NOW, money market, and savings deposits, net 19,938 (146)
Cash received for the exercise of stock options   12
Increase in time deposits, net 25,538 18,492
Proceeds from borrowings to fund acquisition of Liberty Bell Bank, net of loan costs   4,450
Decrease in borrowings, net (1,494) (494)
Dividends paid (749) (647)
Net cash provided by financing activities 43,233 21,667
Net increase in cash and cash equivalents 46,390 1,825
Cash and cash equivalents, beginning 29,694 32,582
Cash and cash equivalents, ending 76,084 34,407
Supplementary cash flow information:    
Interest paid 5,486 3,663
Income taxes paid 922 1,454
Total appreciation (depreciation) on securities available for sale 1,863 (1,340)
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 $ 379