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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 21,748,000 $ 9,788,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (542,000) (506,000)
Loss (gain) on sales of foreclosed assets held for resale, including writedowns 1,000 (28,000)
Earnings on investment in bank-owned life insurance (1,068,000) (1,075,000)
Gain on sales or calls of securities (85,000) 0
Loss on equity securities 296,000 0
Restricted stock compensation expense 186,000 133,000
Depreciation and amortization 2,853,000 2,292,000
Provision for loan losses 1,620,000 0
Net amortization of investment securities premiums 465,000 518,000
Increase in accrued interest receivable (875,000) (512,000)
Increase in accrued interest payable 201,000 326,000
Mortgage loans originated for sale (32,436,000) (27,426,000)
Proceeds from sales of loans originated for sale 34,306,000 27,965,000
Decrease in other assets 2,502,000 3,014,000
Decrease in deferred tax expense 557,000 1,711,000
(Decrease) increase in other liabilities (185,000) 807,000
Net Cash Provided by Operating Activities 29,544,000 17,007,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 17,558,000 10,680,000
Proceeds from maturities of investment securities available for sale 17,925,000 34,404,000
Proceeds from sales of investment securities available for sale 15,566,000 0
Purchase of investment securities available for sale (39,129,000) (30,136,000)
Redemption (purchase) of restricted investment in bank stocks 437,000 (88,000)
Net increase in loans (60,254,000) (71,830,000)
Purchase of bank-owned life insurance (2,000,000) 0
Bank acquisition, net of cash acquired 0 6,444,000
Insurance book- acquisition (2,583,000) 0
Capital expenditures (1,743,000) (1,757,000)
Proceeds from sale of premises and equipment 0 6,000
Proceeds from sale of foreclosed real estate 607,000 324,000
Net Cash Used in Investing Activities (53,616,000) (51,953,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits 22,981,000 18,814,000
Net increase in time certificates of deposits and interest bearing deposits 26,619,000 18,725,000
Net (decrease) increase in short-term borrowings (2,260,000) 2,318,000
Proceeds from long-term borrowings 17,716,000 29,600,000
Repayments on long-term borrowings (28,800,000) (14,250,000)
Dividends paid (6,261,000) (5,233,000)
Common stock issued 541,000 482,000
Net Cash Provided by (Used in) Financing Activities 30,536,000 50,456,000
Net Increase (Decrease) in Cash and Cash Equivalents 6,464,000 15,510,000
CASH AND CASH EQUIVALENTS — BEGINNING 34,441,000 18,931,000
CASH AND CASH EQUIVALENTS — ENDING 40,905,000 34,441,000
Supplemental disclosures of cash flow information    
Interest paid 7,198,000 5,107,000
Income taxes paid 4,600,000 3,850,000
Loans transferred to foreclosed assets held for resale and other foreclosed transactions 327,000 265,000
Increase in assets and liabilities:    
Securities 0 (21,624,000)
Loans 0 (264,913,000)
Premises and equipment 0 (8,624,000)
Investment in bank-owned life insurance 0 (3,118,000)
Restricted investments in bank stocks 0 (336,000)
Foreclosed assets held for resale 0 (211,000)
Goodwill 0 (13,272,000)
Core deposit intangible assets 0 (2,418,000)
Other assets 0 (7,463,000)
Noninterest bearing deposits 0 80,006,000
Interest bearing deposits 0 213,327,000
Trust preferred subordinated debt 0 4,688,000
Other liabilities $ 0 $ 1,782,000