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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 26,676 $ 21,773
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of securities (29) (2)
Loss on disposal of fixed assets 28 13
Gain on sale on foreclosed assets (107) (733)
Writedowns on foreclosed assets 77 195
Share-based compensation expense 379 274
Provision for loan losses 2,050 2,950
Depreciation and amortization 2,240 2,365
Net amortization on securities premiums and discounts 3,248 4,269
Accretion of discounts for loans acquired and net deferred loan fees (712) (1,368)
Increase in cash surrender value of life insurance policies (1,617) (1,067)
Amortization of core deposit intangible 806 752
(Increase) decrease in interest receivable and other assets (7,362) 251
Increase in other liabilities (1,412) (4,897)
Deferred income tax benefit (163) (956)
Increase in equity securities (232)  
Net amortization of partnership investment 1,648 1,242
Net cash provided by operating activities 25,518 25,061
Cash flows from investing activities:    
Maturities and calls of securities available for sale 8,714 3,534
Proceeds from sales of securities available for sale 22,181 9,913
Purchases of securities available for sale (122,579) (90,879)
Principal pay downs on securities available for sale 66,864 71,002
Net purchases of FHLB stock (833) (301)
Loan originations and payments, net (66,017) (137,860)
Purchases of premises and equipment (632) (2,854)
Proceeds from sale premises and equipment 10  
Proceeds from sales of foreclosed assets 7,955 3,987
Purchase of bank-owned life insurance (366) (384)
Liquidation of bank-owned life insurance 260  
Net cash from bank acquisition   (6)
Net cash used in investing activities (84,443) (143,848)
Cash flows from financing activities:    
Increase in deposits 79,867 117,667
Decrease in borrowed funds (13,900) (5,800)
Increase in repurchase agreements 8,798 8,372
Cash dividends paid (8,427) (7,320)
Repurchase of common stock (1,374)  
Stock options exercised 518 770
Net cash provided by financing activities 65,482 113,689
Increase (decrease) in cash and due from banks 6,557 (5,098)
Cash and cash equivalents, Beginning of period 74,132 70,137
Cash and cash equivalents, End of period 80,689 65,039
Supplemental disclosure of cash flow information:    
Cash paid for interest 10,671 5,880
Income taxes paid 9,000 10,000
Supplemental noncash disclosures:    
Real estate acquired through foreclosure 27 $ 161
Operating right-of-use asset pursuant to adoption on ASU 2016-02 9,712  
Operating lease liability pursuant to adoption of ASU 2016-02 $ 10,336