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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Operating Activities      
Net Income $ 14,945 $ 9,586  
Items not requiring (providing) cash      
Depreciation and amortization 1,562 1,440  
Provision for loan losses 1,050 3,700  
Expense of share-based compensation plan 374 319  
Amortization of premiums and discounts on securities 860 415  
Amortization of intangible assets 53 28  
Amortization of originated mortgage servicing rights 3,078 3,479  
Impairment (recovery) of mortgage servicing rights (2,855) 2,974  
Proceeds from sale of loans held for sale 378,855 455,305  
Originations of loans held for sale (371,452) (447,575)  
Gain from sale of loans (14,175) (18,483)  
Loss on sales of assets 1 177  
Changes in      
Interest receivable 845 (1,053)  
Other assets 2,924 (5,570)  
Interest payable & other liabilities (10,055) 627  
Net cash provided by operating activities 6,010 5,369  
Investing Activities      
Purchases of available-for-sale securities (138,525) (98,020)  
Proceeds from maturities of interest bearing time deposits 3,172 2,586  
Proceeds from maturities of available-for-sale securities 34,574 71,578  
Net change in loans 24,676 (44,814)  
Purchase of premises, equipment (1,879) (1,586)  
Purchase of bank owned life insurance (50)  
Purchase of Federal Reserve and Federal Home Loan Bank Stock (538)  
Proceeds from sale of foreclosed assets 123 445  
Acquisition, net of cash acquired 16,263  
Net cash used in investing activities (77,909) (54,086)  
Financing Activities      
Net increase in demand deposits, money market, interest checking & savings accounts 133,680 139,626  
Net decrease in time deposits (71,031) (16,883)  
Net increase in short term borrowings 582 7,765  
Repayment of Federal Home Loan Bank advances (2,500) (8,000)  
Net proceeds from subordinated debt 19,534  
Net proceeds from share-based compensation plans 188  
Stock repurchase plan (8,701) (4,124)  
Dividends on common shares (2,340) (2,278)  
Net cash provided by financing activities 69,224 116,294  
Increase (Decrease) in cash and cash equivalents (2,675) 67,577  
Cash and cash equivalents, beginning of period 140,690 27,064 $ 27,064
Cash and cash equivalents, end of period 138,015 94,641 $ 140,690
Supplemental cash flow information      
Interest paid 3,135 5,612  
Income taxes paid 3,760 2,715  
Supplemental non-cash disclosure      
Transfer of loans to foreclosed assets 1,687 207  
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