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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 6,521 $ 4,344 $ 21,563 $ 13,268 $ 13,268
Adjustments to reconcile net income to net cash provided by operating activities:          
Net decrease (increase) in deferred loan fees     2,203 (5,304)  
Depreciation     688 668  
Accretion     (1,050) (994)  
Amortization     5,752 3,328  
Stock-based compensation     310 362  
(Reversal of) provision for credit losses (500) 600 (3,800) 4,975  
Net realized gains on sales and calls of available-for-sale investment securities     (38) (4,197)  
Net gain on disposal of premises and equipment     (8) (6)  
Net change in equity securities     148 (183)  
Increase in bank-owned life insurance, net of expenses     (596) (376)  
Gain (Loss) on Bank Owned Life Insurance     0 462  
Net increase in accrued interest receivable and other assets     (1,878) (1,394)  
Net increase (decrease) in accrued interest payable and other liabilities     7,529 (1,636)  
Benefit (provision) for deferred income taxes     1,256 (1,227)  
Net cash provided by operating activities     32,079 6,822  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchases of available-for-sale investment securities     (410,308) (319,707)  
Proceeds from sales or calls of available-for-sale investment securities     10,760 147,811  
Proceeds from maturity and principal repayments of available-for-sale investment securities     38,727 25,536  
Net decrease (increase) in loans     17,593 (160,653)  
Purchases of premises and equipment     (889) (307)  
Purchases of bank-owned life insurance     10,000 250  
FHLB stock redeemed     0 (467)  
Proceeds from bank-owned life insurance     0 1,550  
Proceeds from sale of premises and equipment     9 6  
Net cash used in investing activities     (354,108) (305,547)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Net increase in demand, interest bearing and savings deposits     335,370 353,622  
Net increase (decrease) in time deposits     12 (5,693)  
Purchase and retirement of common stock     12,000 11,052  
Proceeds from stock issued under employee stock purchase plan     159 162  
Proceeds from exercise of stock options 10 50 222 277  
Cash dividend payments on common stock     (4,319) (4,155)  
Net cash provided by financing activities     319,444 333,161  
(Decrease) increase in cash and cash equivalents     (2,585) 34,436  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD     70,278 52,574 52,574
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 67,693 $ 87,010 67,693 87,010 $ 70,278
Cash paid during the period for:          
Interest     866 1,354  
Income taxes     6,755 5,120  
Operating cash flows from operating leases     $ 1,688 $ 1,678