| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | ||||||
Net income | ||||||
1,937 | 1,994 | 814 | 1,261 | 770 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
215 | 245 | 246 | 238 | 225 | ||
Provision for loan losses | ||||||
595 | 527 | 575 | 442 | 270 | ||
Provision for deferred income taxes | ||||||
13 | 45 | 681 | 368 | 256 | ||
Net amortization of premiums and discounts on securities | ||||||
-138 | -217 | -470 | -652 | -701 | ||
Loss (gain) on sale of securities, net | ||||||
- | - | - | 5 | 4 | ||
Origination of mortgage loans held for sale | ||||||
18,884 | 19,301 | 21,980 | 18,591 | 7,629 | ||
Proceeds from sale of mortgage loans held for sale | ||||||
18,418 | 20,385 | 22,482 | 18,796 | 7,856 | ||
Gain on sale of loans, net | ||||||
759 | 584 | 696 | 509 | 227 | ||
Origination of mortgage servicing rights, net of amortization | ||||||
87 | 22 | - | - | - | ||
Gain on sale of securities, net | ||||||
- | - | -29 | - | - | ||
Origination of mortgage servicing rights, net of amortization | ||||||
- | - | 71 | 65 | 14 | ||
Gain on sale of foreclosed real estate | ||||||
16 | 116 | 44 | - | - | ||
Gain on sale of foreclosed real estate, net | ||||||
- | - | - | 188 | 204 | ||
Write down of foreclosed real estate | ||||||
- | - | - | 28 | 77 | ||
Loss on sale of repossessed assets, net | ||||||
-18 | 4 | 14 | 5 | -5 | ||
MRP compensation expense | ||||||
- | - | - | 3 | 8 | ||
MRP compensation expense | ||||||
34 | 28 | - | 5 | 10 | ||
Compensation expense on ESOP shares released | ||||||
251 | 258 | - | - | - | ||
ESOP compensation expense | ||||||
9 | - | 256 | 195 | 55 | ||
Amortization of core deposit intangible | ||||||
58 | 58 | 73 | 92 | 116 | ||
Amortization of fair value adjustments on acquired: | ||||||
Loans | ||||||
17 | 26 | 193 | 115 | 224 | ||
Certificates of deposit | ||||||
- | - | -14 | -65 | -104 | ||
Federal Home Loan Bank Advances | ||||||
4 | 5 | 6 | 4 | -21 | ||
Increase in cash surrender value of life insurance | ||||||
48 | 47 | 48 | 50 | 47 | ||
Change in assets and liabilities: | ||||||
Increase in accrued interest receivable | ||||||
50 | 30 | 8 | 9 | -105 | ||
(Increase) decrease in other assets | ||||||
-1,496 | 262 | 679 | 503 | -404 | ||
Increase in accrued interest payable and other liabilities | ||||||
-36 | 59 | 667 | 148 | -275 | ||
Net cash (used in) provided by operating activities | ||||||
3,325 | 3,482 | 2,939 | 2,362 | 2,560 | ||
Cash Flows from Investing Activities | ||||||
Purchases | ||||||
3,100 | 4,223 | 1,308 | 7,198 | 9,481 | ||
Sales, calls, maturities and paydowns | ||||||
4,477 | 4,260 | 19,423 | 8,369 | 14,756 | ||
Net decrease in time deposits | ||||||
- | - | - | - | 604 | ||
Net increase in loans | ||||||
12,852 | 29,717 | 47,572 | 21,199 | -622 | ||
Sale of non-marketable equity securities | ||||||
- | 149 | -165 | 604 | 422 | ||
Net decrease in time deposits | ||||||
-1,233 | - | - | - | - | ||
Net decrease in federal funds sold | ||||||
1,478 | -4,724 | 751 | -86 | 58 | ||
Proceeds from sale of foreclosed real estate | ||||||
212 | 247 | 292 | 490 | 1,229 | ||
Proceeds from sale of repossessed assets | ||||||
274 | 121 | - | - | - | ||
Proceeds from sale of repossessed assets | ||||||
- | - | 73 | 78 | 129 | ||
Purchase of premises and equipment | ||||||
112 | 196 | 72 | 24 | 243 | ||
Net cash used in investing activities | ||||||
-10,856 | -34,082 | -28,578 | -18,964 | 8,097 | ||
Cash Flows from Financing Activities | ||||||
Net increase (decrease) in deposits | ||||||
12,864 | 40,673 | 10,241 | -4,122 | -5,394 | ||
Proceeds from Federal Home Loan Bank advances | ||||||
11,500 | 9,750 | 16,000 | 10,000 | 0 | ||
Principal reduction of Federal Home Loan Bank advances | ||||||
14,523 | 12,773 | 2,022 | 11,022 | 3,322 | ||
Proceeds from stock offering including shares purchased by ESOP, net of expenses | ||||||
- | - | - | 22,337 | 0 | ||
Proceeds from stock options exercised | ||||||
8 | 119 | 7 | 127 | 0 | ||
Loan to ESOP to purchase Company stock in stock offering | ||||||
- | - | - | 1,907 | 0 | ||
Shares repurchased and cancelled | ||||||
2,852 | 1,639 | 253 | 0 | - | ||
Dividends paid | ||||||
1,857 | 856 | 523 | 0 | - | ||
Net cash provided by (used in) financing activities | ||||||
5,139 | 35,274 | 23,448 | 15,413 | -8,716 | ||
Net increase (decrease) in cash and cash equivalents | ||||||
-2,392 | 4,674 | -2,190 | -1,189 | 1,942 | ||
Cash and cash equivalents: | ||||||
Supplemental Disclosures of Cash Flow Information | ||||||
Income taxes paid, net of refunds received | ||||||
448 | 766 | 836 | 0 | -48 | ||
Supplemental Schedule of Noncash Investing and Financing Activities | ||||||
Real estate acquired through or in lieu of foreclosure | ||||||
196 | 109 | 302 | 235 | - | ||
Real estate acquired through or in lieu of foreclosure | ||||||
- | - | - | - | 1,215 | ||
Other assets acquired in settlement of loans | ||||||
194 | 207 | 56 | 58 | 90 | ||
Sale of foreclosed real estate through loan origination | ||||||
- | 44 | 3 | 128 | 32 | ||
Increase in ESOP put option liability | ||||||
- | - | - | 431 | -48 | ||
Interest Paid to Depositors [Member] | ||||||
Interest paid | ||||||
2,820 | 1,757 | 962 | - | - | ||
Interest Paid on Borrowings [Member] | ||||||
Interest paid | ||||||
277 | 218 | 81 | - | - | ||