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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash Flows from Operating Activities          
Net income     $ 8,008,000 $ 10,387,000  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation, amortization, and accretion, net     1,284,000 1,215,000  
Deferred income tax benefit     (2,208,000) (240,000)  
Provision for loan losses     6,560,000 1,260,000  
Writedown of other real estate owned     32,000    
Stock based compensation expense     1,047,000 787,000  
Income from bank owned life insurance $ (199,000) $ (106,000) (595,000) (317,000)  
Subordinated debt amortization expense     22,000 22,000  
Gain on disposal of premises and equipment     (36,000) (67,000)  
Gain on sale of available-for-sale securities       (5,000) $ (5,000)
Amortization of operating lease right-of-use assets     287,000 166,000  
Change in:          
Accrued interest receivable and other receivables     (3,159,000) (213,000)  
Other assets     (10,686,000) (8,301,000)  
Other liabilities     11,159,000 7,248,000  
Net cash provided by operating activities     11,715,000 11,942,000  
Activity in available-for-sale securities:          
Payments     6,209,000 3,233,000  
Maturities     160,000,000 84,844,000  
Purchases     (191,968,000) (119,592,000)  
Activity in held-to-maturity securities:          
Purchases     (1,005,000)    
Called     1,700,000 1,650,000  
Purchases of restricted investment in bank stock     (1,222,000) (3,239,000)  
Redemption of restricted investment in bank stock     2,763,000 4,251,000  
Purchases of bank owned life insurance       (5,000,000)  
Net increase in loan portfolio     (256,439,000) (77,951,000)  
Proceeds from sale of premises and equipment     51,000 77,000  
Purchases of premises and equipment     (1,159,000) (706,000)  
Net cash used in investing activities     (281,070,000) (112,433,000)  
Cash Flows from Financing Activities          
Net increase in non-interest deposits     163,941,000 6,338,000  
Net increase in interest bearing demand, savings, and time deposits     181,481,000 138,089,000  
Net decrease in Federal Home Loan Bank advances and other borrowings     (40,000,000) (30,000,000)  
Issuance of preferred stock, net     27,527,000    
Issuance of common stock     106,000    
Repurchases of common stock     (990,000)    
Net cash provided by financing activities     332,065,000 114,427,000  
Increase in Cash and Cash Equivalents     62,710,000 13,936,000  
Cash and Cash Equivalents, beginning of period     64,844,000 58,076,000 58,076,000
Cash and Cash Equivalents, end of period $ 127,554,000 $ 72,012,000 127,554,000 72,012,000 $ 64,844,000
Supplementary Disclosure of Cash Flow Information          
Cash paid during the period for interest     12,803,000 14,223,000  
Cash paid during the period for income taxes     2,255,000 3,019,000  
Right of use assets obtained in exchange for new operating lease liabilities       2,647,000  
Transfers from loans to other real estate owned     $ 405,000 $ 1,207,000