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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Activities      
Net income $ 8,824 $ 6,256 $ 6,685
(Accretion), amortization and depreciation:      
Securities 31 145 241
Bank premises and equipment 1,668 1,441 1,181
Core deposit intangible 454 533 601
Modification fees on Federal Home Loan Bank of Boston advances 232 234 230
Subordinated debt issuance costs 24 23 24
Mortgage servicing rights 48 169 242
Fair value adjustment on loans (779) (1,207) (1,784)
Fair value adjustment on deposits (37) (78) (121)
(Gains) and losses, including write-downs      
Sales and calls of securities available-for-sale, net (318) (178) (584)
Sales of loans, excluding capitalized servicing rights (71) (95) (171)
CRA Mutual Fund 18
Other real estate owned 274 1,717 435
Sales/disposals of premises and equipment 85 1 13
Gain from BOLI (341)
Provision for loan losses 1,728 1,020 1,835
Proceeds from loans sold 4,555 5,440 10,505
Loans originated for sale (3,815) (6,014) (9,571)
Increase in deferred loan origination fees and costs, net (132) (42) (58)
Mortgage servicing rights originated (43) (63) (95)
(Decrease) increase in mortgage servicing rights impairment reserve (23) 20
Increase in interest receivable (478) (229) (117)
Deferred tax (benefit) expense (494) 888 957
(Increase) decrease in prepaid expenses (50) 123 (296)
Increase in cash surrender value of life insurance policies (337) (343) (353)
Decrease (increase) in income tax receivable 760 (173) (178)
Decrease (increase) in other assets 48 790 (242)
Increase (decrease) in accrued expenses 769 (643) 660
Increase (decrease) in interest payable 138 10 (60)
Increase in other liabilities 69 240 1,086
Stock based compensation - restricted stock awards 447 265 221
Tax benefit from stock compensation (33)
Net cash provided by operating activities 13,277 10,207 11,273
Investing Activities      
Purchases of Federal Home Loan Bank of Boston stock (683) (602) (35)
Purchases of securities available-for-sale (41,631) (36,654) (56,229)
Proceeds from sales of securities available-for-sale 10,036 199 4,865
Proceeds from calls of securities available-for-sale 695 16,141 14,221
Proceeds from maturities of securities available-for-sale 17,061 20,427 33,574
Reinvestment of CRA mutual fund (19)
Loan originations and principle collections, net (102,273) (32,536) (69,240)
Recoveries of loans previously charged off 74 600 126
Proceeds from sales of other real estate owned 289 2,080
Capital expenditures (1,393) (1,954) (1,285)
Net cash and cash equivalents (paid) acquired from acquisition (298) 22,396
Net cash utilized by investing activities (118,142) (9,903) (74,003)
Financing Activities      
Increase in deposit transaction accounts, net 58,658 7,578 33,946
Increase (decrease) in time deposits, net 44,300 (5,208) (6,588)
Increase (decrease) in securities sold under agreements to repurchase, net 2,436 (3,867) 1,621
Short-term Federal Home Loan Bank of Boston advances, net (17,500) 17,000 10,000
Long-term Federal Home Loan Bank of Boston advances 37,000    
Principal payments on Federal Home Loan Bank of Boston advances (7,000) (21)
Principal payments on note payable (33) (31) (32)
Decrease in capital lease obligation (127) (59) (4)
Stock options exercised 222 316 87
Tax benefit from stock compensation 33
Issuance of shares for directors' fees 1 81 141
Common stock dividends paid (3,133) (3,113) (3,086)
Net cash provided by financing activities 114,824 12,697 36,097
Net increase (decrease) in cash and cash equivalents 9,959 13,001 (26,633)
Cash and cash equivalents, beginning of year 48,486 35,485 62,118
Cash and cash equivalents, end of year 58,445 48,486 35,485
Cash paid during year      
Interest 6,864 4,049 3,777
Income taxes 1,443 2,291 1,238
Non-cash transfers      
From loans to other real estate owned 1,654 743 4,955
From other real estate owned to other assets 747
Capital Lease Obligation 1,373
Other:      
Adoption of new accounting principle 16
BOLI proceeds included in other assets 621
Branch Acquisitions      
Cash and cash equivalents (paid) acquired (298) 22,387
Net loans acquired 7,849 7,097
Fixed assets acquired (including capital leases) 761 1,605
Accrued interest receivable acquired 5 12
Other assets acquired 6 20
Core deposit intangible 633
Goodwill 1,263
Deposits assumed 8,323 31,433
Capital lease assumed 1,476
Other liabilities assumed $ 3