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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 3,278 $ 5,899
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net (26) (1,150)
Impairment of Tax Credit Investments 113 2,014
Provision for loan and lease losses 3,182 49
SBA recourse provision 25 481
Depreciation, amortization and accretion, net 806 651
Share-based compensation 417 318
Net loss on sale of securities (4) 0
Increase in bank-owned life insurance policies (295) (292)
Origination of loans held for sale 15,709 9,277
Sale of loans originated for sale 14,848 9,358
Gain on sale of SBA loans originated for sale (265) (242)
Net loss on foreclosed properties, including impairment valuation (102) 0
Excess tax expense (benefit) from share-based compensation 18 (5)
Payments on operating leases (387) (379)
Proceeds from Lease Payments 28 0
Increase (Decrease) in Accounts Receivable and Other Operating Assets 40,050 6,144
Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities 35,138 9,382
Net cash provided by operating activities 1,227 10,663
Investing activities    
Proceeds from maturities, redemptions, and paydowns of available-for-sale securities 9,458 5,653
Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities 1,910 1,795
Proceeds from sale of available-for-sale securities 839 0
Purchases of available-for-sale securities (8,286) (22,812)
Proceeds from sale of foreclosed properties 1,148 0
Net increase in loans and leases (28,719) (38,893)
Returns of investments in limited partnerships 0 281
Investment in historic development entities (259) (2,137)
Distribution from historic development entities 30 0
Investment in Federal Home Loan Bank stock (2,040) (1,260)
Proceeds from the sale of Federal Home Loan Bank stock 260 1,865
Purchases of leasehold improvements and equipment, net (88) 0
Purchases of bank-owned life insurance policies 8,000 0
Net cash used in investing activities (33,747) (55,508)
Financing activities    
Net (decrease) increase in deposits (30,253) 46,407
Repayment of Federal Home Loan Bank advances (166,500) (165,000)
Proceeds from Federal Home Loan Bank advances 260,000 136,000
Net increase in long-term borrowed funds 14 17
Cash dividends paid (1,410) (1,312)
Purchase of treasury stock (1,447) (1,478)
Net cash provided by financing activities 60,404 14,634
Net increase (decrease) in cash and cash equivalents 27,884 (30,211)
Cash and cash equivalents at the beginning of the period 67,102 86,546
Cash and cash equivalents at the end of the period 94,986 56,335
Cash paid during the period for:    
Interest paid on deposits and borrowings 7,250 7,761
Income Taxes Received (8) (1)
Non-cash investing and financing activities:    
Right-of-use assets obtained $ 0 $ 8,505