| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | ||||||
Net income | ||||||
5,963 | 4,357 | - | ||||
Net income | ||||||
- | - | 3,002 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Amortization and accretion of premiums and discounts on investments, net | ||||||
-244 | -337 | -385 | ||||
Net realized loss on sales and calls of securities | ||||||
-69 | -22 | - | ||||
Net realized loss on sales and calls of securities | ||||||
- | - | -27 | ||||
Provision for loan losses | ||||||
2,460 | 2,100 | 900 | ||||
Loans originated for sale | ||||||
50,711 | 37,582 | - | ||||
Loans originated for sale | ||||||
- | - | 38,968 | ||||
Proceeds from sale of loans | ||||||
48,027 | 39,375 | 37,962 | ||||
Net gain on sale of loans | ||||||
619 | 621 | 571 | ||||
Amortization of intangible assets | ||||||
43 | 42 | 67 | ||||
Gain on sale of subsidiary | ||||||
- | - | 1,834 | ||||
Impairment loss on goodwill | ||||||
- | 95 | - | ||||
Depreciation and amortization | ||||||
1,291 | 1,147 | 1,142 | ||||
Write-down of other real estate owned | ||||||
- | -387 | 1 | ||||
Write-down of other real estate owned | ||||||
- | - | 306 | ||||
Gain from disposal of premises and equipment | ||||||
- | 16 | -106 | ||||
Deferred income tax benefit | ||||||
-94 | 102 | 1,919 | ||||
Increase in cash surrender value of insurance | ||||||
398 | 401 | 460 | ||||
Increase in accrued interest receivable | ||||||
380 | 374 | 171 | ||||
Expense of released ESOP shares | ||||||
243 | - | - | ||||
(Increase) decrease in other assets | ||||||
-1,133 | 1,037 | -877 | ||||
Increase (decrease) in accrued expenses and other liabilities | ||||||
1,714 | 675 | 699 | ||||
Net cash provided by operating activities | ||||||
8,985 | 8,608 | 5,387 | ||||
Cash Flows from Investing Activities | ||||||
Proceeds from sales and calls of securities | ||||||
11,938 | 2,113 | - | ||||
Proceeds from sales and calls of securities | ||||||
- | - | 30,786 | ||||
Proceeds from maturities and principal repayments of securities | ||||||
18,322 | 14,995 | 18,693 | ||||
Purchases of securities | ||||||
41,078 | 3,885 | 23,696 | ||||
Net purchases of FHLB Stock | ||||||
1,552 | 775 | 211 | ||||
Net increase in loans | ||||||
114,227 | 115,496 | - | ||||
Net increase in loans | ||||||
- | - | 53,045 | ||||
Purchases of bank owned life insurance | ||||||
40 | 40 | 41 | ||||
Purchases of bank premises and equipment | ||||||
2,589 | 1,146 | 697 | ||||
Proceeds from disposal of premises and equipment | ||||||
- | - | 525 | ||||
Net increase of other real estate owned | ||||||
-14 | - | 2 | ||||
Proceeds from sale of other real estate owned | ||||||
- | - | 281 | ||||
Proceeds from sale of other real estate owned | ||||||
282 | 162 | - | ||||
Proceeds from sale of subsidiary | ||||||
- | - | 3,443 | ||||
Net cash used in investing activities | ||||||
-128,958 | -104,072 | -23,960 | ||||
Cash Flows from Financing Activities | ||||||
Net increase in demand deposits, NOW, money market and savings accounts | ||||||
25,972 | 20,840 | - | ||||
Net (decrease) increase in demand deposits, NOW, money market and savings accounts | ||||||
- | - | 19,654 | ||||
Net increase in time deposits | ||||||
62,953 | 13,473 | -9,225 | ||||
Decrease in mortgagors' escrow accounts | ||||||
381 | 441 | 228 | ||||
Net increase in short-term debt | ||||||
13,209 | 8,826 | 5,400 | ||||
Net increase in long-term debt | ||||||
21,497 | 7,872 | - | ||||
Net (decrease) increase in other borrowings | ||||||
-5,000 | 5,000 | - | ||||
Proceeds of stock subscriptions | ||||||
9,814 | 79,142 | - | ||||
Return of unfulfilled stock subscriptions | ||||||
41,082 | - | - | ||||
Offering expenses | ||||||
1,898 | - | - | ||||
Loan to ESOP | ||||||
4,364 | - | - | ||||
Return of capital to Rhinebeck Bancorp, MHC | ||||||
121 | - | - | ||||
Net cash provided by financing activities | ||||||
81,361 | 135,594 | 16,057 | ||||
Net increase (decrease) in cash and due from banks | ||||||
-38,612 | 40,130 | - | ||||
Cash and Due from Banks | ||||||
Net (decrease) increase in cash and due from banks | ||||||
- | - | -2,516 | ||||
Supplemental Disclosures of Cash Flow Information | ||||||
Cash paid for: | ||||||
Interest | ||||||
8,626 | 5,139 | 3,299 | ||||
Income taxes | ||||||
1,690 | 625 | 1,406 | ||||
Unrealized holding gain (loss) on available for sale securities arising during the period | ||||||
- | - | -491 | ||||
Transfer of loans to other real estate owned | ||||||
- | - | 139 | ||||
Decrease in defined benefit plan liability included in other comprehensive loss | ||||||
- | - | 330 | ||||