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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,505,000 $ 1,404,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 351,000 765,000
Net amortization and accretion of securities 241,000 103,000
Net gains on sale of securities 0 (53,000)
Earnings on bank owned life insurance (107,000) (107,000)
Amortization of intangible assets 17,000 40,000
Deferred tax 25,000  
Depreciation and other amortization 476,000 518,000
Stock option expense 34,000 24,000
Stock grant expense, restricted 61,000 15,000
Net change in:    
Accrued interest receivable and other assets 586,000 (205,000)
Accrued interest payable and other liabilities (3,000) 387,000
Net cash provided by operating activities 3,186,000 2,891,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net decrease (increase) in restricted investments 358,000 (53,000)
Purchases of available for sale securities (7,974,000) (7,109,000)
Proceeds from maturities, calls and principal payments of available for sale securities 4,443,000 13,112,000
Proceeds from sales of available for sale securities   5,366,000
Net increase in organic loans (17,745,000) (20,641,000)
Net decrease in purchased loans 5,892,000 5,945,000
Cash payment for wealth management book of business   (50,000)
Purchase of bank premises and equipment (142,000) (89,000)
Net cash used in investing activities (15,168,000) (3,519,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits, NOW accounts, and money market accounts 71,654,000 21,467,000
Net increase (decrease) in certificates of deposit and other time deposits 1,742,000 (7,542,000)
Proceeds from stock options exercised 15,000  
Cash dividends paid (1,628,000) (808,000)
Net cash provided by financing activities 71,783,000 13,117,000
NET INCREASE IN CASH AND CASH EQUIVALENTS 59,801,000 12,489,000
CASH AND CASH EQUIVALENTS:    
Beginning of period 34,695,000 19,085,000
End of period 94,496,000 31,574,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest 702,000 1,215,000
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Unrealized losses on available for sale securities $ (4,287,000) $ (568,000)