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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 12,452,000 $ 14,046,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 3,293,000 197,000
Realized gains on available-for-sale debt securities, net (25,000) (20,000)
Accretion and amortization on securities, net 1,020,000 880,000
Increase in cash surrender value of life insurance (361,000) (296,000)
Depreciation and amortization of bank premises and equipment 1,429,000 1,315,000
Other accretion and amortization, net (1,547,000) (265,000)
Stock-based compensation 672,000 646,000
Deferred income taxes 649,000 187,000
Decrease in fair value of servicing rights 617,000 312,000
Gains on sales of loans, net (3,931,000) (618,000)
Origination of loans held for sale (123,547,000) (20,663,000)
Proceeds from sales of loans held for sale 126,268,000 19,325,000
(Decrease) increase in accrued interest receivable and other assets (1,194,000) 895,000
(Decrease) increase in accrued interest payable and other liabilities (856,000) 236,000
Other (339,000) 99,000
Net Cash Provided by Operating Activities 14,600,000 16,276,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash and cash equivalents provided by (used in) business combination 75,955,000 (1,778,000)
Proceeds from maturities of certificates of deposit 250,000 100,000
Purchase of certificates of deposit (2,500,000) 0
Proceeds from sales of available-for-sale debt securities 20,535,000 95,640,000
Proceeds from calls and maturities of available-for-sale debt securities 71,009,000 61,241,000
Purchase of available-for-sale debt securities (65,853,000) (48,776,000)
Redemption of Federal Home Loan Bank of Pittsburgh stock 5,712,000 8,275,000
Purchase of Federal Home Loan Bank of Pittsburgh stock (4,571,000) (4,911,000)
Net increase in loans (45,564,000) (53,859,000)
Proceeds from bank owned life insurance 0 796,000
Purchase of premises and equipment (2,550,000) (1,300,000)
Proceeds from sale of foreclosed assets 1,347,000 1,740,000
Other 178,000 120,000
Net Cash Provided by Investing Activities 53,948,000 57,288,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 137,543,000 37,532,000
Net decrease in short-term borrowings (79,213,000) (103,246,000)
Proceeds from long-term borrowings 25,891,000 48,500,000
Repayments of long-term borrowings and subordinated debt (5,136,000) (31,590,000)
Sale of treasury stock 124,000 198,000
Purchase of vested restricted stock (163,000) (189,000)
Common dividends paid (10,568,000) (10,713,000)
Net Cash Provided by (Used in) Financing Activities 68,478,000 (59,508,000)
INCREASE IN CASH AND CASH EQUIVALENTS 137,026,000 14,056,000
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 31,122,000 32,827,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 168,148,000 46,883,000
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 167,000 745,000
Accrued purchase of available-for-sale debt securities 287,000 3,857,000
Accrued sale of available-for-sale securities 488,000 0
Accrued income from life insurance claim 279,000 0
Assets acquired through foreclosure of real estate loans 0 1,863,000
Interest paid 7,635,000 6,721,000
Income taxes paid $ 2,975,000 $ 1,500,000