Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2015 |
Jun. 30, 2014 |
| Net income |
$ 2,701
|
$ 2,822
|
| Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: |
|
|
| Amortization of premiums and accretion of discounts on securities, net |
349
|
347
|
| Depreciation and amortization expense |
349
|
348
|
| Deferred income taxes |
263
|
(65)
|
| Stock compensation expense |
38
|
0
|
| Increase in cash value of life insurance |
(67)
|
(77)
|
| Gain on life insurance |
(110)
|
0
|
| Gain on sale of securities |
0
|
(54)
|
| Provision for loan losses |
50
|
115
|
| Proceeds from sales of loans |
16,586
|
12,656
|
| Loans originated for sale |
(16,165)
|
(14,550)
|
| Gain on sale of loans |
(486)
|
(319)
|
| Decrease in accrued interest receivable |
42
|
165
|
| Decrease in accrued interest payable |
(33)
|
(37)
|
| Net change in other assets/liabilities |
(735)
|
(592)
|
| Net Cash Provided By Operating Activities |
2,782
|
759
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Investment in interest-bearing time deposits |
(1,490)
|
(1,475)
|
| Proceeds from maturities and sales of interest-bearing time deposits |
245
|
0
|
| Purchase of securities available for sale |
(15,366)
|
(15,469)
|
| Proceeds from maturities of securities available for sale |
10,264
|
10,923
|
| Proceeds from sales of securities available for sale |
0
|
2,612
|
| Principal collected on mortgage-backed obligations |
6,016
|
4,892
|
| Net (increase) decrease in loans receivable |
1,125
|
(9,564)
|
| Proceeds from redemption of Federal Home Loan Bank stock |
691
|
0
|
| Proceeds from sale of foreclosed real estate |
74
|
375
|
| Purchase of premises and equipment |
(379)
|
(473)
|
| Net Cash Provided By Investing Activities |
1,180
|
(8,179)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Net increase in deposits |
3,611
|
12,923
|
| Net decrease in advances from Federal Home Loan Bank |
0
|
(500)
|
| Net increase in retail repurchase agreements |
0
|
1,307
|
| Purchase of treasury stock |
0
|
(844)
|
| Dividends paid |
(1,169)
|
(1,174)
|
| Net Cash Provided By (Used In) Financing Activities |
2,442
|
11,712
|
| Net Increase in Cash and Cash Equivalents |
6,404
|
4,292
|
| Cash and cash equivalents at beginning of period |
33,243
|
11,136
|
| Cash and Cash Equivalents at End of Period |
$ 39,647
|
$ 15,428
|