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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows From Operating Activities:    
Net Income $ 7,038 $ 12,276
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for credit losses 2,138 15
Depreciation and amortization 1,044 1,055
Amortization of operating lease right-of-use assets (446) (575)
Amortization of premium/discount on investment securities, net 806 489
Increase in accrued interest receivable (1,891) (2,181)
(Decrease) increase in accrued interest payable (23) 15
Decrease in accounts payable and accrued liabilities (261) (1,996)
Decrease in unearned fees and unamortized loan origination costs, net 218 508
Decrease (increase) in income taxes receivable (9) (359)
Unrealized gain on marketable equity securities (89) (128)
Stock-based compensation expense 316 272
Benefit (provision) for deferred income taxes 199 (52)
Loss on sale of other real estate owned 113 0
Write down on other real estate owned 727 0
Gain on bank owned life insurance (310) 0
Increase in cash surrender value of bank-owned life insurance (382) (438)
Gain on fair value option of junior subordinated debentures (1,451) (1,571)
Loss on dissolution of real estate investment trust 0 115
Gain on sale of premises and equipment 0 (1)
Net decrease in other assets 1,629 2,321
Net cash provided by operating activities 9,366 9,765
Cash Flows From Investing Activities:    
Purchase of correspondent bank stock (45) (52)
Purchases of available-for-sale securities (29,016) (23,017)
Principal payments of available-for-sale securities 17,766 11,407
Net (increase) decrease in loans (65,446)  
Net (increase) decrease in loans   17,626
Cash proceeds from sales of other real estate owned 895 0
Investment in limited partnership (201) (300)
Cash proceeds from sale of premises and equipment 0 12
Proceeds from bank owned life insurance 1,243 0
Capital expenditures of premises and equipment (1,043) (684)
Net cash (used in) provided by investing activities (75,847) 4,992
Cash Flows From Financing Activities:    
Net increase in demand deposits and savings accounts 178,239 28,859
Net decrease in time deposits (1,819) (14,280)
Dividends on common stock (5,602) (3,730)
Net cash provided by financing activities 170,818 10,849
Net increase in cash and cash equivalents 104,337 25,606
Cash and cash equivalents at beginning of period 218,995 220,337
Cash and cash equivalents at end of period $ 323,332 $ 245,943