|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Cash Flows From Operating Activities: |
|
|
| Net income |
$ 3,919 |
$ 5,239 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion |
2,103 |
1,985 |
| Provision for credit losses |
2,530 |
1,455 |
| Stock based compensation |
204 |
143 |
| Net gain on sale of securities |
(610) |
(418) |
| Net gain (loss) on sale and write down of OREO and other repossessed property |
(106) |
440 |
| Earnings from investment in BOLI |
(238) |
(242) |
| Deferred taxes |
644 |
(355) |
| Proceeds from sales of SBA loans |
2,740 |
3,013 |
| SBA loans originated for sale |
(2,578) |
(2,855) |
| Gain on sale of SBA loans |
(162) |
(158) |
| Decrease in accrued interest receivable |
173 |
66 |
| Decrease (increase) in other assets |
1,050 |
(821) |
| Decrease in accrued interest payable |
(45) |
(23) |
| Increase in other liabilities |
68 |
779 |
| Net Cash Provided By Operating Activities |
9,692 |
8,248 |
| Cash Flows From Investing Activities: |
|
|
| Activity in available-for-sale securities: Sales |
39,311 |
19,683 |
| Activity for available-for-sale securities: Maturities, repayments and calls |
34,109 |
43,325 |
| Activity in available-for-sale securities: Purchases |
(64,044) |
(90,138) |
| Activity in held-to-maturity securities: Maturities, repayments and calls |
5,472 |
7,034 |
| Activity in held-to-maturity securities: Purchases |
(4,714) |
(36,672) |
| Net decrease in restricted stock |
523 |
198 |
| Net (increase) decrease in loans and leases |
(26,765) |
6,055 |
| Purchases of property and equipment |
(663) |
(1,548) |
| Proceeds from disposals of property and equipment |
1 |
5 |
| Proceeds from sale of OREO and other repossessed property |
3,411 |
2,647 |
| Net Cash Used in Investing Activities |
(13,359) |
(49,411) |
| Cash Flows From Financing Activities: |
|
|
| Net increase in deposits |
28,323 |
32,879 |
| Repayment of FHLBP advances |
(10,000) |
|
| Net increase (decrease) in short term repurchase agreements |
2,840 |
(6,756) |
| Decrease in other borrowings |
(30) |
(27) |
| Dividends paid |
(899) |
(993) |
| Sale of treasury stock, net |
344 |
332 |
| Net Cash Provided by Financing Activities |
20,578 |
25,435 |
| Net Change in Cash and Cash Equivalents |
16,911 |
(15,728) |
| Cash and Cash Equivalents at Beginning of Period |
17,149 |
32,877 |
| Cash and Cash Equivalents at End of Period |
34,060 |
17,149 |
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Cash paid during the period for: Interest |
2,933 |
3,778 |
| Cash paid during the period for: Income taxes |
1,578 |
1,735 |
| Supplemental Disclosure of Non-cash Flow Information: |
|
|
| Transfers from loans and leases to real estate owned and other repossessed property |
3,164 |
350 |
| Non-cash assets acquired: Loans and leases |
|
66 |
| Non-cash assets acquired: Property and equipment |
|
686 |
| Total non-cash assets acquired |
|
752 |
| Liabilities assumed: Accrued interest payable |
|
(5) |
| Liabilities assumed: Deposits |
|
15,861 |
| Total liabilities assumed |
|
15,856 |
| Net non-cash liabilities assumed |
|
15,104 |
| Core deposits intangible |
|
130 |
| Net cash and cash equivalents acquired |
|
$ 15,234 |