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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Operating Activities      
Net Income $ 10,842 $ 4,336  
Items not requiring (providing) cash      
Depreciation and amortization 1,004 935  
Provision for loan losses 750 1,900  
Expense of share-based compensation plan 274 235  
Amortization of premiums and discounts on securities 549 214  
Amortization of intangible assets 35 4  
Amortization of originated mortgage servicing rights 2,135 2,171  
Impairment (recovery) of mortgage servicing rights (2,607) 3,300  
Proceeds from sale of loans held for sale 255,773 289,104  
Originations of loans held for sale (249,542) (287,931)  
Gain from sale of loans (10,176) (10,279)  
Loss on sales of assets 126  
Changes in      
Interest receivable 799 (1,166)  
Other assets 2,886 (7,387)  
Interest payable & other liabilities (10,685) 4,100  
Net cash provided by (used in) operating activities 2,037 (338)  
Investing Activities      
Purchases of available-for-sale securities (88,379) (61,893)  
Proceeds from maturities of interest bearing time deposits 2,917 1,000  
Proceeds from maturities of available-for-sale securities 23,315 61,803  
Net change in loans 20,584 (60,482)  
Purchase of premises, equipment (1,790) (591)  
Purchase of bank owned life insurance (50)  
Purchase of Federal Reserve and Federal Home Loan Bank Stock (72)  
Proceeds from sale of foreclosed assets 28 182 $ 2,000
Acquisition, net of cash acquired 16,237  
Net cash used in investing activities (43,375) (43,816)  
Financing Activities      
Net increase in demand deposits, money market, interest checking & savings accounts 98,876 109,786  
Net decrease in time deposits (56,853) (10,471)  
Net increase in short term borrowings 4,907 10,881  
Repayment of Federal Home Loan Bank advances (2,500) (3,000)  
Net proceeds from subordinated debt 19,522  
Net proceeds from share-based compensation plans 188  
Stock repurchase plan (6,742) (3,119)  
Dividends on common shares (1,569) (1,514)  
Net cash provided by financing activities 55,641 102,751  
Increase in cash and cash equivalents 14,303 58,597  
Cash and cash equivalents, beginning of period 140,690 27,064 27,064
Cash and cash equivalents, end of period 154,993 85,661 $ 140,690
Supplemental cash flow information      
Interest paid 2,285 4,081  
Income taxes paid 3,030  
Supplemental non-cash disclosure      
Transfer of loans to foreclosed assets 1,608 197  
In conjunction with the Edon acquisition, liabilities assumed were:      
Fair value of assets acquired 66,795  
Cash paid in acquisition (15,519)  
Liabilities assumed $ 51,276