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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 9,604,000 $ 8,739,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for loan losses 1,352,000 (961,000)
Realized gains on available-for-sale debt securities, net 0 (7,000)
Accretion and amortization on securities, net 802,000 505,000
Increase in cash surrender value of life insurance (202,000) (191,000)
Depreciation and amortization of bank premises and equipment 897,000 843,000
Other accretion and amortization, net (578,000) (138,000)
Stock-based compensation 424,000 431,000
Deferred income taxes 396,000 583,000
Decrease in fair value of servicing rights 396,000 148,000
Gains on sales of loans, net (1,879,000) (308,000)
Origination of loans held for sale (60,830,000) (9,783,000)
Proceeds from sales of loans held for sale 61,815,000 9,107,000
Increase in accrued interest receivable and other assets (9,085,000) (254,000)
Increase (decrease) in accrued interest payable and other liabilities 2,630,000 (1,188,000)
Other 15,000 58,000
Net Cash Provided by Operating Activities 5,757,000 7,584,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash and cash equivalents used in business combination 0 (1,778,000)
Proceeds from maturities of certificates of deposit 250,000 100,000
Proceeds from sales of available-for-sale debt securities 6,722,000 95,139,000
Proceeds from calls and maturities of available-for-sale debt securities 43,718,000 34,825,000
Purchase of available-for-sale debt securities (26,632,000) (26,662,000)
Redemption of Federal Home Loan Bank of Pittsburgh stock 5,076,000 6,723,000
Purchase of Federal Home Loan Bank of Pittsburgh stock (3,616,000) (3,148,000)
Net increase in loans (58,591,000) (30,385,000)
Proceeds from bank owned life insurance 0 796,000
Purchase of premises and equipment (2,085,000) (925,000)
Proceeds from sale of foreclosed assets 1,265,000 227,000
Other 116,000 75,000
Net Cash (Used in) Provided by Investing Activities (33,777,000) 74,987,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 128,464,000 26,931,000
Net decrease in short-term borrowings (71,822,000) (96,990,000)
Proceeds from long-term borrowings 25,891,000 22,500,000
Repayments of long-term borrowings and subordinated debt (5,114,000) (25,517,000)
Sale of treasury stock 124,000 198,000
Purchase of vested restricted stock (163,000) (189,000)
Common dividends paid (6,670,000) (7,386,000)
Net Cash Provided by (Used in) Financing Activities 70,710,000 (80,453,000)
INCREASE IN CASH AND CASH EQUIVALENTS 42,690,000 2,118,000
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 31,122,000 32,827,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 73,812,000 34,945,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Right-of-use assets recognized at adoption of ASU 2016-02 0 1,132,000
Leased assets obtained in exchange for new operating lease liabilities 0 745,000
Assets acquired through foreclosure of real estate loans 0 824,000
Interest paid 4,961,000 3,846,000
Income taxes paid $ 42,000 $ 950,000