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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 14,721 $ 12,551 $ 8,748
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 0 2,100 600
Stock based compensation 475 424 378
Gain on sale-leaseback of real estate 0 0 (1,187)
Depreciation and amortization of bank premises and equipment 721 565 600
Accretion and amortization of securities, net 1,683 2,530 3,587
Net loss on sale/call of available-for-sale securities 3 20 14
Net gain on sale of loans held-for-sale (614) (337) (512)
Impairment on other real estate owned 308 0 0
Gain on sale of bank premises and equipment (281) 0 0
Provision for (reversal of) deferred income taxes 450 (1,210) 1,919
Valuation adjustment on mortgage servicing rights 0 0 (21)
Proceeds from sales of loans held-for-sale 33,796 21,966 27,596
Originations of loans held-for-sale (35,017) (22,884) (24,798)
Increase in deferred loan origination fees and costs, net 137 328 57
Amortization of operating lease right-of-use asset 865 0 0
Increase in interest receivable and other assets (768) (596) (2,147)
Net increase in interest payable and other liabilities 85 222 1,261
Net cash provided by operating activities 16,564 15,679 16,095
Cash flows from investing activities:      
Proceeds from maturities of available-for-sale securities 47,955 23,860 21,290
Proceeds from sales of available-for-sale securities 20,796 2,487 462
Principal repayments on available-for-sale securities 50,781 50,186 50,354
Purchase of available-for-sale securities (141,862) (114,198) (80,779)
Net (increase) decrease in Certificates of Deposit (7,105) (5,611) 14,229
Net increase in stock in Federal Home Loan Bank and other equity securities, at cost (555) (452) (1,158)
Net increase in loans (5,617) (27,801) (69,999)
Purchases of bank premises and equipment, net (1,056) (963) (1,225)
Proceeds from the sale of bank premises and equipment 668 0 2,868
Proceeds from sales of other real estate owned 784 0 0
Net cash used in investing activities (35,211) (72,492) (63,958)
Cash flows from financing activities:      
Net increase in deposits 14,020 19,872 41,044
Cash dividends paid in lieu of fractional shares (8) (10) (10)
Common stock issued 96 91 78
Net cash provided by financing activities 14,108 19,953 41,112
Net decrease in cash and cash equivalents (4,539) (36,860) (6,751)
Cash and cash equivalents at beginning of year 116,032 152,892 159,643
Cash and cash equivalents at end of year $ 111,493 $ 116,032 $ 152,892