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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 11,345 $ 18,640
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (1,279) (417)
Gain on sales of foreclosed assets held for resale, including writedowns (80) (87)
Earnings on investment in bank-owned life insurance (1,090) (869)
Loss (gain) on equity securities 483 (193)
Restricted stock compensation expense 428 322
Depreciation and amortization 2,745 2,037
Provision for loan losses 8,100 425
Net amortization of investment securities premiums 597 251
(Increase) decrease in accrued interest receivable (1,991) 33
(Decrease) increase in accrued interest payable (896) 1,084
Mortgage loans originated for sale (92,681) (14,929)
Proceeds from sales of loans originated for sale 90,373 12,744
Decrease in other assets 2,763 1,730
Increase in deferred tax expense (1,635) (2,172)
Increase in other liabilities 936 1,148
Net Cash Provided by Operating Activities 18,118 19,747
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 5,628 4,823
Proceeds from maturities of investment securities available for sale 39,056 12,644
Purchase of investment securities available for sale (135,939) (32,079)
Purchase of equity securities 0 (500)
Redemption of restricted investment in bank stocks 1,763 431
Net (increase) decrease in loans (101,840) 13,667
Purchase of bank-owned life insurance (400) (1,500)
Bank acquisition, net of cash acquired 35,262 0
Insurance book- acquisition (542) (640)
Capital expenditures (622) (605)
Proceeds from sales of premises and equipment 392 33
Proceeds from sales of foreclosed real estate 363 290
Net Cash Used in Investing Activities (156,879) (3,436)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits 126,463 20,200
Net increase in time certificates of deposits and interest bearing deposits 202,795 49,318
Net increase in short-term borrowings 19,286 6,861
Proceeds from long-term borrowings 0 7,000
Repayments on long-term borrowings (18,633) (18,448)
Dividends paid (6,509) (5,151)
Common stock issued 656 719
Net Cash Provided by Financing Activities 324,058 60,499
Net Increase in Cash and Cash Equivalents 185,297 76,810
CASH AND CASH EQUIVALENTS — BEGINNING 114,356 40,905
CASH AND CASH EQUIVALENTS — ENDING 299,653 117,715
Supplemental disclosures of cash flow information    
Interest paid 10,548 6,273
Income taxes paid 4,150 3,400
Loans transferred to foreclosed assets held for resale and other foreclosed transactions 135 48
Increase in assets and liabilities:    
Securities (22,167) 0
Loans (333,362) 0
Premises and equipment (10,959) 0
Investment in bank-owned life insurance (10,896) 0
Restricted investments in bank stocks (1,141) 0
Foreclosed assets held for resale (464) 0
Goodwill (22,528) 0
Core deposit intangible assets (3,560) 0
Other assets (3,086) 0
Noninterest bearing deposits 103,492 0
Interest bearing deposits 270,566 0
Trust preferred debentures 6,000 0
Long term borrowings 3,450 0
Other liabilities 2,637 0
Common shares issued $ 57,280 $ 0