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Consolidated Statements of Cash Flows
$ in Thousands
6 Months Ended
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Cash flows from operating activities:    
Net income $ 13,556 $ 11,811
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 1,227 1,140
Amortization of right-of-use lease asset 187  
Amortization of deferred loan costs (156) 482
Amortization of intangibles 374 450
Amortization of low income housing partnerships 238 233
Provision for loan losses 1,400 2,100
Net unrealized loss on equity investment securities 8  
Net loss on sale of other real estate owned 20 19
Loans originated for sale (5,848) (5,932)
Proceeds from sale of loans originated for sale 5,813 6,074
Net gain on sale of loans originated for sale (47) (36)
Net amortization of investment securities 895 1,197
Net gain on sale of investment securities available-for-sale (23)  
Net gain on sale of credit card loans held for sale   (291)
Life insurance investment income (378) (378)
Stock based compensation 240 105
Net change in:    
Accrued interest receivable (188) 134
Other assets (4,114) (1,187)
Accrued interest payable (137) 41
Other liabilities 3,022 (914)
Net cash provided by operating activities 16,089 15,048
Cash flows from investing activities:    
Proceeds from sales of investment securities available-for-sale 9,677  
Proceeds from repayments of investment securities:    
Available-for-sale 24,651 15,445
Held-to-maturity 387 485
Purchases of investment securities:    
Available-for-sale (22,151) (22,627)
Net purchase of restricted equity securities (371) (2,794)
Proceeds from sale of student loan portfolio   3,171
Net increase in lending activities (36,380) (68,291)
Purchases of premises and equipment (2,541) (1,071)
Proceeds from the sale of premises and equipment 21 340
Proceeds from sale of other real estate owned 111 200
Net cash used in investing activities (26,596) (75,142)
Cash flows from financing activities:    
Net increase (decrease) in deposits 1,777 (157)
Proceeds from long-term debt 16,000  
Repayment of long-term debt (926) (823)
Net (decrease) increase in short-term borrowings (3,800) 63,775
Retirement of common stock (166)  
Cash dividends paid (5,032) (4,810)
Net cash provided by financing activities 7,853 57,985
Net decrease in cash and cash equivalents (2,654) (2,109)
Cash and cash equivalents at beginning of period 32,616 37,488
Cash and cash equivalents at end of period 29,962 35,379
Cash paid during the period for:    
Interest 9,245 5,881
Income taxes 2,200 2,050
Noncash items:    
Transfers of loans to other real estate 172 $ 495
Initial recognition of right-of-use assets 6,523  
Initial recognition of lease liability $ 6,523