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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 $ 15,339 $ 17,126
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation and amortization - premises and equipment 3,411 3,732
Amortization of operating lease right-of-use assets 1,275  
Amortization of core deposit intangible 725 723
Accretion of loan discount (1,788) (2,453)
Amortization of FDIC indemnification asset 354 350
Provision for loan losses 200 2,650
Earnings on bank-owned life insurance (908) (706)
Equity (gain) loss on mortgage affiliate (576) 126
Stock based compensation expense 267 169
Gain on bank-owned life insurance death benefit   (164)
(Gain) loss on other real estate owned (38) 160
Provision for deferred income taxes (1,197)  
Net (increase) decrease in other assets (4,210) 1,230
Net increase (decrease) in other liabilities 3,362 (2,169)
Net cash and cash equivalents provided by operating activities 15,491 20,051
Investing activities:    
Purchases of available for sale investment securities (25,110)  
Proceeds from paydowns, maturities and calls of available for sale investment securities 7,711 7,363
Proceeds from paydowns, maturities and calls of held to maturity investment securities 5,463 2,498
Sales of FRB and FHLB stock 2,158 756
Net (increase) decrease in loans 6,896 (91,728)
Purchase of bank-owned life insurance   (12,000)
Proceeds from bank-owned life insurance death benefit 343 477
Proceeds from sales of other real estate owned, net of improvements 74 1,857
Proceeds from sales of bank premise and equipment and assets held for sale   2,136
Purchases of bank premises and equipment (73) (1,805)
Net cash and cash equivalents used in investing activities (2,538) (90,446)
Financing activities:    
Net increase in deposits 52,837 115,153
Cash dividends paid on common stock (4,341) (3,839)
Issuance of common stock under Stock Incentive Plan 129 360
Net decrease in short-term borrowings (57,101) (14,579)
Net cash and cash equivalents provided by (used in) financing activities (8,476) 97,095
Increase in cash and cash equivalents 4,477 26,700
Cash and cash equivalents at beginning of period 28,611 25,463
Cash and cash equivalents at end of period 33,088 52,163
Cash payments for:    
Interest 18,643 11,663
Income taxes 2,937 $ 4,516
Supplemental schedule of noncash investing and financing activities    
Initial recognition of operating lease right-of-use assets 8,615  
Initial recognition of operating lease liabilities $ 9,099