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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 7,840 $ (23,489)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of premises and equipment 682 640
(Recovery of) provision for loan losses (735) 3,812
Stock based compensation 130 49
Net amortization of investment securities available-for-sale 825 312
Net benefit of operation of other real estate owned (22) (11)
Net gain on sale of investment securities available-for-sale (273) (815)
Premium on sale of deposits (1,602)  
Amortization of purchase adjustment on loans (58) (292)
Amortization of intangible assets 264 339
Amortization of assumed discount on long-term debt 44 42
Amortization of long-term debt insurance costs 51  
Impairment of goodwill   24,754
Deferred income taxes 633 (465)
Proceeds from sale of loans originated for sale 15,241 13,557
Net gain on sale of loans originated for sale (336) (499)
Loans originated for sale (10,747) (17,229)
Bank owned life insurance investment income (374) (386)
Accrued interest receivable 684 588
Other assets 411 1,028
Accrued interest payable (534) 22
Other liabilities (1,458) (2,230)
Net cash provided by (used in) operating activities 10,666 (273)
Investment securities available-for-sale:    
Purchases (74,503) (14,215)
Proceeds from repayments 8,056 5,741
Proceeds from sales 19,519 27,168
Proceeds from the sale of other real estate owned 225 68
Net increase in restricted equity securities (209) (779)
Net (increase) decrease in loans 189,959 (314,982)
Purchases of premises and equipment (145) (1,456)
Proceeds from sale of premises and equipment 162  
Premium paid on bank owned life insurance (22) (22)
Net cash provided by (used in) investing activities 143,042 (298,477)
Cash flows from financing activities:    
Net increase in deposits 30,657 82,673
Repayment of long-term debt (176,904)  
Proceeds from long-term debt   209,997
Issuance under ESPP, 401k and DRP plans 266 346
Cash dividends paid   (1,386)
Net cash provided by (used in) financing activities (145,981) 291,630
Net increase (decrease) in cash and cash equivalents 7,727 (7,120)
Cash and cash equivalents—beginning 49,781 50,348
Cash and cash equivalents—ending 57,508 43,228
Cash paid during the period for:    
Interest 3,510 3,538
Federal income taxes 500  
Supplemental schedule of noncash investing and financing activities:    
Other real estate acquired in settlement of loans   $ 338
Transfer of deposits in sale $ 42,191