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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 21,443 $ 21,289 $ 14,026
Adjustments to reconcile net income to net cash provided by operating activities:      
Net decrease (increase) in deferred loan costs (77) 233 (92)
Depreciation 1,742 1,703 1,429
Accretion (917) (898) (766)
Amortization 4,564 6,457 8,519
Stock-based compensation 555 482 384
Provision for (reversal of) credit losses 1,025 50 (1,150)
Net realized gains on sales and calls of available-for-sale investment securities (5,199) (1,314) (2,802)
Net loss on sale and disposal of equipment 0 2 0
Net change in equity investments 218 (42) 0
Increase in bank owned life insurance, net of expenses (728) (695) (621)
Net gain on sale of credit card portfolio 0 (462) 0
Net (increase) decrease in accrued interest receivable and other assets (9,521) 3,218 (2,263)
Net increase (decrease) in accrued interest payable and other liabilities 9,641 (599) 1,370
(Provision) benefit for deferred income taxes (589) 403 7,184
Net cash provided by operating activities 21,721 29,911 25,218
Cash flows used in investing activities:      
Net cash and cash equivalents acquired in acquisitions 0 0 26,279
Purchases of available-for-sale investment securities (301,254) (225,970) (226,740)
Proceeds from sales or calls of available-for-sale investment securities 281,906 246,824 228,405
Proceeds from maturity and principal repayment of available-for-sale investment securities 25,120 36,495 44,956
Proceeds from sale of credit card portfolio 0 2,954 0
Net increase in loans (25,606) (20,477) (25,542)
Purchases of premises and equipment (876) (791) (859)
Payment to Acquire Life Insurance Policy, Investing Activities 1,000 0 0
Payments for (Proceeds from) Federal Home Loan Bank Stock (781) 0 0
Net cash (used in) provided by investing activities (20,929) 39,035 46,499
Cash Flows From Financing Activities:      
Net increase (decrease) in demand, interest-bearing and savings deposits 54,074 (112,134) 45,672
Net decrease in time deposits (3,087) (31,253) (48,044)
Proceeds from short-term borrowings from Federal Home Loan Bank 725,500 568,500 0
Repayments of short-term borrowings to Federal Home Loan Bank (735,500) (558,500) (7,000)
Proceeds of borrowings from other financial institutions 2,870 19,705 0
Repayments of borrowings from other financial institutions (2,870) (19,705) (400)
Purchase and retirement of common stock 15,619 894  
Proceeds from stock issued under employee stock purchase plan 216 211 45
Proceeds from exercise of stock options 276 738 2,835
Cash dividend payments on common stock (5,805) (4,270) (3,010)
Net cash provided by (used in) financing activities 20,055 (137,602) (9,902)
Increase (decrease) in cash and cash equivalents 20,847 (68,656) 61,815
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 31,727 100,383 38,568
CASH AND CASH EQUIVALENTS AT END OF YEAR 52,574 31,727 100,383
Cash paid during the year for:      
Interest 2,517 1,460 1,171
Income taxes 9,140 2,700 4,720
Operating Lease, Payments 1,643 0 0
Non-cash investing and financing activities:      
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 10,129 0 0
Common stock issued in acquisitions $ 0 $ 0 $ 28,405