XML 21 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 6,877,000 $ 5,211,000
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Amortization of premium and accretion of discount on securities, net 1,268,000 693,000
Depreciation and amortization expense 1,187,000 756,000
Deferred income taxes 220,000 672,000
Stock compensation expense 82,000 71,000
Increase in cash value of life insurance (184,000) (135,000)
Gain on life insurance   (110,000)
Gain on sale of securities (176,000)  
Provision for loan losses 645,000 50,000
Proceeds from sale of loans 51,343,000 31,442,000
Loans originated for sale (51,590,000) (32,073,000)
Gain on sale of loans (1,179,000) (843,000)
Net realized and unrealized loss on foreclosed real estate 50,000 115,000
Net loss on sale of premises and equipment 11,000 61,000
Net gain on sale of cost method equity investment (145,000)  
Decrease (increase) in accrued interest receivable (119,000) 467,000
Decrease in accrued interest payable (34,000) (367,000)
Net change in other assets/liabilities (16,000) (4,000)
Net Cash Provided By Operating Activities 8,240,000 6,006,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in interest-bearing time deposits (2,225,000) (5,075,000)
Proceeds from maturities and sales of interest-bearing time deposits 4,145,000 1,670,000
Purchase of securities available for sale (184,752,000) (34,028,000)
Proceeds from maturities of securities available for sale 85,850,000 19,395,000
Proceeds from sales of securities available for sale 4,583,000 45,444,000
Principal collected on mortgage-backed obligations 19,765,000 13,457,000
Net increase in loans receivable (23,689,000) (3,694,000)
Proceeds from redemption of Federal Home Loan Bank stock   1,886,000
Proceeds from sale of foreclosed real estate 1,222,000 230,000
Purchase of premises and equipment (1,992,000) (1,105,000)
Proceeds from sale of premises and equipment 36,000 37,000
Proceeds from sale of cost method equity investment 856,000  
Net cash and cash equivalents received in acquisition   18,710,000
Net Cash Provided By (Used In) Investing Activities (96,201,000) 56,927,000
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 27,473,000 15,457,000
Advances from Federal Home Loan Bank   15,500,000
Repayment of advances from Federal Home Loan Bank   (15,500,000)
Advances on line of credit   500,000
Repayment of advances on line of credit   (500,000)
Purchase of treasury stock (34,000) (10,000)
Dividends paid (2,817,000) (2,449,000)
Net Cash Provided By Financing Activities 24,622,000 12,998,000
Net Increase (Decrease) in Cash and Cash Equivalents (63,339,000) 75,931,000
Cash and cash equivalents at beginning of year 109,174,000 33,243,000
Cash and Cash Equivalents at End of Year $ 45,835,000 $ 109,174,000