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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating Activities    
Net Income $ 18,277 $ 14,944
Items not requiring (providing) cash    
Depreciation and amortization 2,262 1,937
Provision for loan losses 1,050 4,500
Expense of share-based compensation plan 443 382
Amortization of premiums and discounts on securities 1,236 643
Amortization of intangible assets 71 46
Amortization of originated mortgage servicing rights 3,885 4,762
Impairment (recovery) of mortgage servicing rights (3,436) 3,586
Deferred income taxes 2,302 (2,444)
Proceeds from sale of loans held for sale 490,557 603,178
Originations of loans held for sale (478,119) (582,538)
Gain from sale of loans (17,413) (25,803)
Changes in    
Interest receivable 879 (693)
Other assets 2,006 (5,211)
Interest payable & other liabilities (6,743) 6,618
Net cash provided by operating activities 17,257 23,907
Investing Activities    
Purchases of available-for-sale securities (170,694) (129,796)
Proceeds from maturities of interest bearing time deposits 3,180 5,719
Proceeds from maturities of available-for-sale securities 50,471 84,021
Net change in loans 48,503 (31,706)
Purchase of premises, equipment (2,427) (1,980)
Proceeds from sales of premises, equipment   301
Purchase of bank owned life insurance (50)
Purchase of Federal Reserve and Federal Home Loan Bank Stock (538)
Proceeds from sale of foreclosed assets 129 500
Acquisition, net of cash acquired (paid) (1,100) 16,263
Net cash used in investing activities (71,988) (57,216)
Financing Activities    
Net increase in demand deposits, money market, interest checking & savings accounts 137,079 195,501
Net increase (decrease) in time deposits (73,045) (37,762)
Net increase (decrease) in securities sold under agreements to repurchase (4,869) 7,244
Repayment of Federal Home Loan Bank advances (2,500) (8,000)
Net proceeds from subordinated debt 19,546
Net proceeds from share-based compensation plans 188
Stock repurchase plan (9,520) (7,166)
Dividends on common shares (3,139) (3,070)
Net cash provided by financing activities 63,552 146,935
Increase in cash and cash equivalents 8,821 113,626
Cash and cash equivalents, beginning of year 140,690 27,064
Cash and cash equivalents, end of year 149,511 140,690
Supplemental cash flow information    
Interest paid 4,337 7,280
Income taxes paid 4,230 5,180
Supplemental non-cash disclosure    
Recognition of right-of-use lease assets 318 248
Transfer of loans to foreclosed assets 1,687 207
In conjunction with the Edon acquisition, liabilities assumed were:    
Fair value of assets acquired 66,769
Cash paid in acquisition (15,493)
Liabilities assumed $ 51,276