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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income $ 11,985 $ 10,808
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of securities premiums, net of accretion 266 218
ESOP expense 841 1,072
Gain on sale of securities, net   (113)
Change in deferred loan fees, net 2,023 989
Provision for loan losses 5,597 5,326
Depreciation and amortization 1,091 1,391
Gain on disposal of premises and equipment   (9)
Increase in accrued interest receivable (3,267) (216)
Deferred tax benefit (2,202) (1,049)
Stock-based compensation expense 1,089 999
Bank owned life insurance income (809) (699)
Expense recovery from sale of other real estate owned   (138)
Principal repayments of operating lease liabilities (82) (61)
Increase in other assets (785) (810)
Increase (decrease) in other liabilities 2,434 (200)
Net cash provided by operating activities 18,181 17,508
Cash flows from investing activities:    
Purchases of debt securities available-for-sale   (13,729)
Proceeds from sales of debt securities available-for-sale   13,565
Proceeds from pay downs, maturities and calls of debt securities available-for-sale 10,114 10,629
Redemption of Federal Home Loan Bank stock 521 1,234
Loan originations and purchases, net of paydowns (296,472) (124,358)
Cash paid for mortgage warehouse asset purchase, net [1] (66,962)  
Additions to premises and equipment (911) (6,245)
Additions to other real estate owned   (64)
Proceeds from sale of equipment   85
Purchase of bank owned life insurance (8,950)  
Proceeds from sales of other real estate owned   1,878
Cash received from Provident Bancorp   372
Write down of other assets and receivables 2,207  
Net cash used in investing activities (360,453) (116,633)
Cash flows from financing activities:    
Net increase in noninterest-bearing accounts 160,991 84,787
Net increase in interest-bearing accounts 226,532 (2,978)
Cash dividends paid on common stock (1,636)  
Net change in short-term borrowings   (38,024)
Payments made on Federal Home Loan Bank long-term advances (11,498) (5,000)
Shares surrendered related to tax withholdings on restricted stock awards (131) (193)
Repurchase of common stock (7,825)  
Proceeds from sale of common stock, net   91,578
Net cash provided by financing activities 366,433 130,170
Net increase in cash and cash equivalents 24,161 31,045
Cash and cash equivalents at beginning of year 59,658 28,613
Cash and cash equivalents at end of year 83,819 59,658
Supplemental disclosures:    
Interest paid 5,932 8,148
Income taxes paid 6,264 5,008
Recognition of right-of-use assets in premises and equipment 693 3,836
Recognition of operating lease liabilities 693 3,938
Reclassification of accrued rent from other liabilities to premises and equipment   102
Loan originated from sale of premises and equipment   6,455
Loans transferred to other assets   $ 740
Reclassification of premises and equipment to other assets $ 3  
[1] See Note 16 for information regarding the mortgage warehouse asset purchase.