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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating Activities    
Net income $ 1,517 $ 2,084
(Gains) and losses:    
Issuance of shares for director fees 65 34
Statements of Cash Flows
   
Operating Activities    
Net income 1,517 2,084
Amortization (accretion) and depreciation    
Securities 110 262
Bank premises and equipment 464 428
Decrease core deposit intangible 118 111
Mortgage servicing rights 165 197
Fair value adjustment on loans 13 16
Fair value adjustment on deposits (4)   
(Gains) and losses:    
Gains on sales of loans (22) (285)
Other real estate owned    9
Loss on sale/disposal of premises and equipment 2   
Provision for loan losses 651 636
Proceeds from loans sold 2,146 18,002
Loans originated for sale (1,951) (16,702)
Increase in deferred loan origination fees and costs, net (61) (96)
Mortgage servicing rights originated (22) (230)
Decrease in mortgage servicing rights impairment reserve (14) (34)
Decrease (increase) in interest receivable 27 (184)
Deferred tax benefit (27) (25)
Decrease in prepaid expenses 20 724
Increase in cash surrender value of life insurance policies (112) (121)
(Increase) decrease in income tax receivable (88) 338
(Increase) decrease in other assets (43) 36
(Decrease) increase in accrued expenses (20) 168
Decrease in interest payable (4) (37)
Increase (decrease) in other liabilities 651 (362)
Issuance of shares for director fees 65 34
Issuance of shares of restricted stock 70 63
Net cash provided by operating activities 3,651 5,032
Investing Activities    
Redemption of Federal Home Loan Bank stock 912 407
Sale (purchase) of interest-bearing time deposits with other banks 738 (4,233)
Proceeds from calls of securities available-for-sale 3,595 1,400
Proceeds from maturities of securities available-for-sale 4,759 15,514
Loan originations and principle collections, net (19,022) (30,090)
Recoveries of loans previously charged-off 33 10
Proceeds from sale of other real estate owned    1,353
Capital expenditures (1,710) (195)
Cash and cash equivalents acquired from Sharon, CT branch office of another institution 17,462   
Net cash provided (utilized) by investing activities 6,767 (15,834)
Financing Activities    
Increase in deposit transaction accounts, net 12,897 4,864
Decrease in time deposits, net (1,071) (4,040)
Increase in securities sold under agreements to repurchase, net 1,790 1,195
Principal payments on Federal Home Loan Bank of Boston advances (792) (793)
Common stock dividends paid (959) (957)
Preferred stock dividends paid (86) (81)
Net cash provided by financing activities 11,779 188
Net decrease in cash and cash equivalents 22,197 (10,614)
Cash and cash equivalents, beginning of period 12,711 43,574
Cash and cash equivalents, end of period 34,908 32,960
Cash paid during year    
Interest 1,319 1,641
Income taxes 569 163
Non-cash transfers    
Transfer from loans to other real estate owned    1,553
Sharon branch acquisition    
Cash and cash equivalents acquired 17,462   
Net loans acquired 63   
Fixed assets acquired 158   
Core deposit intangible 488   
Deposits assumed 18,170   
Accrued interest payable assumed $ 1