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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 11,281 $ 7,684
Adjustments to reconcile net income to net cash from operating activities:    
Provision for loan losses 416 1,775
Depreciation 1,299 1,386
Amortization 4,336 2,021
Compensation expense on employee and director stock purchases, stock options, and restricted stock units 404 183
Net gains on sales of securities (3) (1,343)
Net change in market value of equity securities (489) (54)
Gains on sales of loans (3,917) (4,739)
Loans originated for sale (122,993) (101,844)
Proceeds from loan sales 125,714 97,601
Earnings on bank-owned life insurance (377) (384)
(Gains)/losses on sales of other real estate owned (4) (3)
Proceeds from sales of other real estate owned 270 139
Costs capitalized to other real estate 0 (19)
Deferred federal income tax (benefit)/expense 506 (307)
Net change in:    
Other assets (992) (8,564)
Other liabilities 1,693 1,169
Net cash provided by (used in) operating activities 17,144 (5,299)
Cash flows from investing activities:    
Sales of securities available for sale 0 92,979
Maturities, prepayments and calls of securities available for sale 28,104 26,635
Purchases of securities (322,009) (144,856)
Loan originations and payments, net 100,799 (105,154)
Additions to premises and equipment (1,461) (928)
Net cash (used in) investing activities (194,567) (131,324)
Cash flows from financing activities:    
Net change in deposits 206,157 169,706
Proceeds from borrowings 2,500 10,000
Payments on borrowings (9,185) (33,019)
Issuance of common stock 66 69
Repurchase of common stock (2,897) 0
Cash dividends (3,419) (2,900)
Net cash provided by financing activities 193,222 143,856
Net change in cash and cash equivalents 15,799 7,233
Beginning cash and cash equivalents 79,519 59,558
Ending cash and cash equivalents 95,318 66,791
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,965 2,672
Cash paid for income taxes 901 1,351
Loans transferred to other real estate owned $ 260 $ 42