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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:    
Net income $ 8,573 $ 9,892
Adjustments to Reconcile Net Income to Net Cash Used by Operating Activities:    
Gain on sale of securities, net (23) 0
Loss on disposal of premises and equipment 0 3
Depreciation and amortization of premises and equipment 1,444 768
Amortization of software 496 431
Intangible asset amortization 30 35
Amortization of investment security premium, net of discount accretion 25 106
(Gain) loss of marketable equity securities (652) 173
Deferred tax expense (benefit) 735 (156)
Stock-based compensation 351 412
Deferral of loan fees and (costs), net (169) 51
Provision for loan losses 1,050 (300)
(Benefit) reserve for purchased receivables (92) 1
Additions to home mortgage servicing rights carried at fair value (1,639) (1,572)
Change in fair value of home mortgage servicing rights carried at fair value 1,624 144
Change in fair value of commercial servicing rights carried at fair value 98 0
Gain on sale of loans (7,830) (7,398)
Proceeds from the sale of loans held for sale 242,409 254,323
Origination of loans held for sale (261,400) (257,252)
Gain on sale of other real estate owned (316) (49)
Net changes in assets and liabilities:    
Decrease (increase) in accrued interest receivable 25 (104)
Increase in other assets (3,162) (10,614)
Increase (decrease) in other liabilities 668 (1,996)
Net Cash Used by Operating Activities (17,755) (13,102)
Investment in securities:    
Purchases of investment securities available for sale (15,373) (25,731)
Purchases of marketable equity securities 0 (998)
Purchases of FHLB stock (806) 0
Proceeds from sales/calls/maturities of securities available for sale 39,729 67,401
Proceeds from calls/sales of marketable equity securities 0 500
Proceeds from redemption of FHLB stock 838 11
Decrease in purchased receivables, net 1,384 1,908
Increase in loans, net (31,090) (14,388)
Proceeds from sale of other real estate owned 1,085 276
Purchases of software (294) (409)
Proceeds from sale of premises and equipment 0 3
Purchases of premises and equipment (1,509) (1,020)
Net Cash (Used) Provided by Investing Activities (6,036) 27,553
Financing Activities:    
(Decrease) increase in deposits 60,090 (52,762)
Decrease in securities sold under repurchase agreements (33,414) (51)
Decrease in borrowings (83) (50)
Repurchase of common stock (5,403) 0
Cash dividends paid (4,106) (3,299)
Net Cash Provided (Used) by Financing Activities 17,084 (56,162)
Net Change in Cash and Cash Equivalents (6,707) (41,711)
Cash and Cash Equivalents at Beginning of Period 77,538 77,841
Cash and Cash Equivalents at End of Period 70,831 36,130
Supplemental Information:    
Income taxes paid 0 324
Interest paid 2,483 1,070
Noncash commitments to invest in Low Income Housing Tax Credit Partnerships 7,282 0
Transfer of loans to other real estate owned 0 535
Non-cash lease liability arising from obtaining right of use assets 528 0
Cash dividends declared but not paid $ 41 $ 32