XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows From Operating Activities    
Net income $ 2,070 $ 380
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 805 639
Net premium accretion and discount amortization of securities 207 183
Amortization of subordinated debt issuance costs 8 8
Amortization of core deposit intangible 414 234
Accretion of fair value adjustment of time deposits (110) (117)
Accretion of fair value adjustments (discounts) of loans 1,051 (451)
Provision for (recovery of) loan losses (28) 758
Share-based compensation 46 67
Gain on sale of available-for-sale securities   (2)
Increase in other real estate owned valuation allowance 91 109
Gain on sale of other real estate owned (148) (16)
Loss on disposal of fixed and other assets 69  
Decrease in value of mortgage servicing rights 22 6
Loan originations for sale (13,926) (5,719)
Loan sales 15,135 5,788
Gain on sold loans (227) (51)
Increase in cash surrender value of bank owned life insurance (251) (208)
Gain on curtailment of post-retirement benefit plan (352)  
(Increase) decrease in accrued interest receivable and other assets (269) 304
Increase in other liabilities 1,186 297
Net cash provided by operating activities 5,793 2,209
Cash Flows From Investing Activities    
Proceeds from maturities and principal pay downs of available-for-sale securities 1,808 2,198
Proceeds from sales and calls of available-for-sale securities   17,662
Maturities of certificates of deposit   992
Purchases of available-for-sale securities and certificates of deposit (650) (743)
Purchases of restricted securities, net (403) (470)
Increase in federal funds sold 5,017  
Net increase in loans (38,901) (52,157)
Principal payments on loans held for sale   279
Cash acquired in the merger with Virginia BanCorp   14,698
Proceeds from sale of other real estate owned 3,001 412
Proceeds from sale of equipment   6
Purchases of premises and equipment (1,421) (836)
Net cash used in investing activities (31,549) (17,959)
Cash Flows From Financing Activities    
Net increase (decrease) in demand, savings, and other interest-bearing deposits 2,292 (20,071)
Net increase in time deposits 11,038 59,516
Stock options exercised 131 138
Net decrease in securities sold under repurchase agreements (2,490) (7,524)
Increase in Federal Home Loan Bank advances   10,000
Net cash provided by financing activities 10,971 42,059
Net (decrease) increase in cash and due from banks (14,785) 26,309
Cash and cash equivalents (including interest-earning deposits) at beginning of period 51,367 14,702
Cash and cash equivalents (including interest-earning deposits) at end of period 36,582 41,011
Cash paid for:    
Interest 4,334 2,181
Income taxes 620 550
Non-cash investing and financing activities:    
Unrealized (loss) gain on available-for-sale securities (1,467) 485
Loans transferred to other real estate owned 2,161 259
Loans originated to facilitate sale of other real estate owned   190
Changes in deferred taxes resulting from other comprehensive income transactions $ (308) 164
Dividends declared   $ 377