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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 6,020 $ 8,259
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization - premises and equipment 881 841
Amortization of operating lease right-of-use assets 586  
Amortization of core deposit intangible 363 362
Other amortization, net 497 677
Accretion of loan discount (816) (1,212)
Amortization of FDIC indemnification asset 177 173
Provision for loan losses 200 1,600
Earnings on bank-owned life insurance (523) (307)
Equity (gain) loss on mortgage affiliate (18) 317
Stock based compensation expense 104 75
(Gain) loss on other real estate owned (2) 200
Net (increase) decrease in other assets (4,420) 1,353
Net increase in other liabilities 8,641 2,064
Net cash and cash equivalents provided by operating activities 11,690 14,402
Investing activities:    
Purchases of available for sale investment securities (15,313)  
Proceeds from paydowns, maturities and calls of available for sale investment securities 3,172 3,414
Proceeds from paydowns, maturities and calls of held to maturity investment securities 1,778 1,190
Sales (purchases) of FRB and FHLB stock 1,095 (26)
Net (increase) decrease in loans 21,815 (43,445)
Proceeds from bank-owned life insurance death benefit 344  
Proceeds from sales of other real estate owned, net of improvements 38 52
Proceeds from sales of bank premise and equipment and assets held for sale   2,136
Purchases of bank premises and equipment (7) (1,623)
Net cash and cash equivalents provided by (used in) investing activities 12,922 (38,302)
Financing activities:    
Net increase in deposits 13,464 29,315
Cash dividends paid on common stock (2,170) (1,917)
Issuance of common stock under Stock Incentive Plan 122 354
Net decrease in short-term borrowings (32,798) (690)
Net cash and cash equivalents provided by (used in) financing activities (21,382) 27,062
Increase in cash and cash equivalents 3,230 3,162
Cash and cash equivalents at beginning of period 28,611 25,463
Cash and cash equivalents at end of period 31,841 28,625
Cash payments for:    
Interest 8,989 4,898
Income taxes   $ 471
Supplemental schedule of noncash investing and financing activities    
Initial recognition of operating lease right-of-use assets 8,296  
Initial recognition of operating lease liabilities $ 9,305