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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 6,238 $ 3,254
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 250 775
Depreciation 646 563
Amortization 1,949 718
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 214 112
Net gains on sales of securities (1) (2)
Net change in market value of equity securities (608) 389
Gains on sales of loans (2,146) (1,743)
Loans originated for sale (72,727) (32,372)
Proceeds from loan sales 68,637 29,614
Earnings on bank-owned life insurance (186) (192)
(Gains)/losses on sales of other real estate owned (4) 0
Proceeds from sales of other real estate owned 270 64
Costs capitalized to other real estate 0 (19)
Deferred federal income tax (benefit)/expense 506 (281)
Net change in:    
Other assets (3,952) (3,354)
Other liabilities 3,124 (17)
Net cash (used in)/provided by operating activities 2,210 (2,491)
Cash flows from investing activities:    
Maturities, prepayments and calls of securities available for sale 12,918 9,633
Purchases of securities available for sale (179,221) (29,954)
Loan originations and payments, net 63,084 1,776
Additions to premises and equipment (1,038) (412)
Net cash (used in)/provided by investing activities (104,257) (18,957)
Cash flows from financing activities:    
Net change in deposits 165,386 18,797
Payments on borrowings (5,843) (10,010)
Issuance of common stock 29 23
Cash dividends (1,716) (1,449)
Net cash provided by/(used in) financing activities 157,856 7,361
Net change in cash and cash equivalents 55,809 (14,087)
Beginning cash and cash equivalents 79,519 59,558
Ending cash and cash equivalents 135,328 45,471
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,021 1,508
Cash paid for income taxes 0 42
Loans transferred to other real estate owned $ 123 $ 0