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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 22,424 $ 18,850 $ 18,020
Adjustments to reconcile net income to net cash used in operating activities:      
Provision for loan losses 11,080 8,515 11,006
Accretion of certain acquisition-related discounts, net (3,707) (2,871) (3,034)
Share-based compensation 1,447 1,466 1,345
Depreciation and amortization 4,189 3,866 3,671
Accretion of discounts and amortization of premiums on securities, net 2,271 1,534 1,783
Deferred income taxes (817) 354 632
Provision for indemnifications 881   52
Income from bank-owned life insurance (506) (711) (424)
Gain on sales of loans held for investment (3,489)    
Early debt repayment charges 2,197    
Pension expense 793 649 403
Pension contribution (2,000)   (3,000)
Proceeds from sales of loans held for sale 1,668,113 903,968 720,250
Origination of loans held for sale (1,765,449) (941,001) (699,028)
Gains on sales of loans held for sale (25,735) (10,603) (7,841)
Other losses (gains), net 624 (28) (212)
Change in other assets and liabilities:      
Accrued interest receivable (897) 660 153
Other assets 6,882 137 3,936
Accrued interest payable (442) 371 82
Other liabilities 1,767 212 (240)
Net cash (used in) provided by operating activities (80,374) (14,632) 47,554
Investing activities:      
Acquisition of Peoples Bankshares, Incorporated 19,101    
Disposition of assets related to business combination 8,004    
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 123,741 75,583 51,067
Purchases of securities available for sale (201,870) (48,216) (51,322)
Purchases of time deposits, net (5,478)    
Repayments on loans held for investment by non-bank affiliates 129,011 123,140 117,014
Purchases of loans held for investment by non-bank affiliates (132,897) (149,377) (133,484)
Proceeds from sales of loans held for investment 3,366    
Net increase in community banking loans held for investment (110,862) (31,886) (27,720)
Proceeds from bank-owned life insurance   785  
Purchases of corporate premises and equipment (10,228) (2,706) (3,374)
Changes in collateral posted with other financial institutions, net (7,400) (2,490)  
Other investing activities, net 2,226 (762) 296
Net cash used in investing activities (183,286) (35,929) (47,523)
Financing activities:      
Net increase in demand and savings deposits 318,598 34,093 11,625
Net (decrease) increase in time deposits (29,212) 75,496 (1,393)
Net increase (decrease) in short-term borrowings 4,095 1,444 (5,705)
Proceeds from long-term borrowings 19,924 7,000  
Repayments of long-term borrowings (121,726) (7,000) (2,500)
Repurchases of common stock (1,061) (4,917) (1,537)
Cash dividends paid (5,546) (5,131) (4,931)
Other financing activities, net (176) (4)  
Net cash provided by (used in) financing activities 184,896 100,981 (4,441)
Net (decrease) increase in cash and cash equivalents (78,764) 50,420 (4,410)
Cash and cash equivalents at beginning of period 165,433 115,013 119,423
Cash and cash equivalents at end of period 86,669 165,433 115,013
Supplemental cash flow disclosures:      
Interest paid 14,168 14,150 10,909
Income taxes paid 6,410 2,296 821
Supplemental disclosure of noncash investing and financing activities:      
Transfers from loans to other real estate owned $ 63 496 $ 98
Transfers from corporate premises and equipment to other real estate owned   835  
Issuance of noncontrolling interest   $ 490