XML 19 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities    
Net income $ 4,154 $ 4,017
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 1,039 871
Provision for loan losses 381 670
Amortization/accretion of premiums, discounts and deferred costs and fees, net 362 252
Amortization of intangible assets and mortgage servicing rights 196 216
Realized gains on sales of available for sale securities, net (854) (758)
Net gains on foreclosed real estate (15) (12)
Net gains on sales of bank premises and equipment 0 (15)
Write-down of foreclosed real estate 13 0
Restricted stock and stock option compensation 184 198
Increase in bank-owned life insurance, net (328) (327)
(Increase) decrease in accrued interest receivable 42 (77)
Decrease in deferred taxes 1,146 25
(Increase) decrease in prepaid expenses and other assets (3,619) 203
Decrease in accrued interest payable (20) (93)
Increase in accrued expenses and other liabilities 738 355
Net cash provided by operating activities 3,419 5,525
Cash flows from investing activities    
Loan originations and principal collections, net (27,836) (25,273)
Purchase of residential mortgage loans (19,481) 0
Settlement of syndicated national credits (7,039) 0
Available for sale securities:    
Sales 36,314 24,452
Maturities, repayments and calls 27,873 14,813
Purchases (27,117) (67,923)
Redemption (purchase) of federal bank stocks, net (1,834) 1,571
Proceeds from the sale of bank premises and equipment 0 45
Purchases of premises and equipment (2,009) (3,735)
Proceeds from the sale of foreclosed real estate 307 139
Net cash used in investing activities (20,822) (55,911)
Cash flows from financing activities    
Net increase (decrease) in deposits (11,932) 69,813
Proceeds from Federal Home Loan Bank advances 20,000 0
Repayments on Federal Home Loan Bank advances 0 (5,000)
Net change in short-term borrowings 7,750 (17,650)
Proceeds from issuance of common stock 8,151 0
Redemption of preferred stock (Series B) (5,000) 0
Proceeds from exercise of stock options, including tax benefit 81 79
Dividends paid (1,957) (1,658)
Net cash provided by financing activities 17,093 45,584
Net decrease in cash and cash equivalents (310) (4,802)
Cash and cash equivalents at beginning of period 11,856 16,658
Cash and cash equivalents at end of period 11,546 11,856
Supplemental information:    
Interest paid 2,855 3,120
Income taxes paid 525 515
Supplemental noncash disclosures:    
Transfers from loans to foreclosed real estate 341 144
Syndicated national credits settled in subsequent period $ 0 $ 3,018