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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 8,895,000 $ 6,710,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of securities (6,000) 0
Loss on disposal of fixed assets 12,000 0
Gain on sale on foreclosed assets (16,000) 0
Writedowns on foreclosed assets 20,000 110,000
Share-based compensation expense 151,000 76,000
Provision for loan losses 300,000 200,000
Depreciation and amortization 754,000 785,000
Net amortization on securities premiums and discounts 1,030,000 1,423,000
Accretion of discounts for loans acquired and net deferred loan fees (266,000) (356,000)
Increase in cash surrender value of life insurance policies (900,000) (204,000)
Amortization of core deposit intangible 269,000 230,000
(Increase) decrease in interest receivable and other assets (203,000) 2,633,000
Increase (decrease) in other liabilities 4,476,000 (3,020,000)
Deferred income tax benefit (provision) 2,000 (953,000)
Net amortization of partnership investment 450,000 405,000
Net cash provided by operating activities 14,968,000 8,039,000
Cash flows from investing activities:    
Maturities and calls of securities available for sale 1,150,000 200,000
Proceeds from sales of securities available for sale 15,504,000 0
Purchases of securities available for sale (34,469,000) (36,750,000)
Principal pay downs on securities available for sale 19,803,000 22,282,000
Loan originations and payments, net (19,618,000) (34,471,000)
Purchases of premises and equipment (87,000) (412,000)
Proceeds from sale premises and equipment 10,000 0
Proceeds from sales of foreclosed assets 7,920,000 0
Purchase of bank-owned life insurance (217,000) (278,000)
Net cash from bank acquisition 0 (6,000)
Net cash used in investing activities (10,004,000) (49,435,000)
Cash flows from financing activities:    
Increase in deposits 44,408,000 48,244,000
Decrease in borrowed funds (56,100,000) (16,100,000)
Increase in Fed funds purchased 0 300,000
Increase in repurchase agreements 3,001,000 4,379,000
Cash dividends paid (2,754,000) (2,437,000)
Stock options exercised 412,000 382,000
Net cash (used in) provided by financing activities (11,033,000) 34,768,000
Decrease in cash and due from banks (6,069,000) (6,628,000)
Cash and cash equivalents, Beginning of period 74,132,000 70,137,000
Cash and cash equivalents, End of period $ 68,063,000 $ 63,509,000