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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 565 $ 2,609
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 394 347
Amortization of deferred loan fees (506) (440)
Net (accretion) amortization of premiums and discounts on securities (83) 42
Provision for loan losses 750  
Write-downs and losses on real estate acquired through foreclosure, net of gains 80 107
Gain on sale of mortgage loans (1,634) (720)
Loss on disposal of property 76  
Proceeds from sale of mortgage loans held for sale 33,764 22,536
Originations of loans held for sale (43,216) (19,438)
Stock-based compensation 34 43
Increase in cash surrender value of bank-owned life insurance (37) (39)
Deferred income taxes 1 193
Decrease in accrued interest receivable 183 216
Increase in other assets (1,160) (2,721)
Increase in accrued expenses and other liabilities 1,024 2,953
Net cash (used in) provided by operating activities (9,765) 5,688
Cash flows from investing activities:    
Loan principal repayments, net of (disbursements) 10,271 9,087
Redemption of restricted stock investments 132 910
Purchases of premises and equipment, net (57) (85)
Activity in securities held to maturity:    
Maturities/calls/repayments 3,202 3,095
Activity in available-for-sale securities:    
Purchases (7,852)  
Maturities/calls/repayments 2,225 1,000
Proceeds from sales of real estate acquired through foreclosure 623  
Net cash provided by investing activities 8,544 14,007
Cash flows from financing activities:    
Net (decrease) increase in deposits 29,163 (69,633)
Repayments of long-term borrowings   (25,000)
Common stock dividends (513) (382)
Exercise of stock options 14 81
Net cash provided by (used in) financing activities 28,664 (94,934)
Increase (decrease) in cash and cash equivalents 27,443 (75,239)
Cash and cash equivalents at beginning of period 88,193 188,340
Cash and cash equivalents at end of period 115,636 113,101
Supplemental Noncash Disclosures:    
Interest paid on deposits and borrowed funds 2,170 2,490
Income taxes paid $ 493  
Real estate acquired in satisfaction of loans   171
Initial recognition of operating lease right-of-use asset   2,684
Initial recognition of operating lease liability   2,684
Transfers of loans held for sale to loan portfolio   $ 648