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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:              
Net income         $ 9,840 $ 5,937  
Adjustments to reconcile net income to net cash provided by operating activities:              
(Reversal of) provision for loan losses $ (507)   $ 4,398   (507) 6,111  
Increase in deferred tax assets         (658) (1,486)  
Accretion on acquired loans         (1,005) (3,534)  
Gain on sale of loans (953)   (212)   (1,529) (854)  
Proceeds from sale of loans         15,774 11,707  
Loans originated for sale         (19,692) (15,651)  
Gain on sale of premises, net         (12)    
Gain on sale of OREO     (28)   (36) (28)  
Accretion on junior subordinated debentures         41 40  
Increase in cash surrender value of life insurance policies         (340) (332)  
Amortization/accretion of premiums/discounts on investment securities, net         238 376  
Depreciation and amortization         1,025 897  
Core deposit intangible amortization 453   453   906 926  
Stock based compensation expense 351 $ 413 363 $ 309 764 672  
Increase in deferred loan origination fees, net         774 4,121  
Increase in interest receivable and other assets         (1,341) (3,080)  
Increase in salary continuation plan, net         175 170  
Increase (decrease) in interest payable and other liabilities         4,057 (5,099)  
Net cash provided by operating activities         8,474 893  
Cash flows from investing activities:              
Proceeds from maturities of interest bearing deposits in banks         1,992 3,229  
Purchase of investment securities         (39,923) (9,920)  
Proceeds from the maturities, repayments and calls of investment securities         18,357 14,676  
Purchase of Federal Home Loan Bank stock         (648) (398)  
Purchase of Federal Reserve Bank stock         (24) (760)  
Decrease (increase) in loans, net         57,705 (162,421)  
Proceeds from sale of premises         46    
Proceeds from sale of OREO         279 518  
Purchase of equipment and leasehold improvements, net         (703) (1,001)  
Net cash paid out for acquisitions           (8,432)  
Net cash provided by (used in) investing activities         37,081 (164,509)  
Cash flows from financing activities:              
Increase in noninterest and interest bearing deposits, net         157,561 133,481  
Decrease in time deposits, net         (17,720) (65,892)  
Repayment of junior subordinated debentures           (1,575)  
Repayment of Federal Home Loan Bank borrowings         (5,000) (100,000)  
Increase in other borrowings           116,000  
Repurchase of common stock         (11,032) (10,059)  
Net cash provided by financing activities         123,809 71,955  
Increase (decrease) in cash and cash equivalents         169,364 (91,661)  
Cash and cash equivalents at beginning of period   $ 299,329   $ 295,382 299,329 295,382 $ 295,382
Cash and cash equivalents at end of period $ 468,693   $ 203,721   468,693 203,721 $ 299,329
Cash paid during the year for:              
Interest expense         4,588 5,188  
Cash paid during the year for:              
Income taxes paid, net         3,668 4,305  
Non-cash investing and financing activities:              
Change in unrealized (loss) gain on available-for-sale securities, net of tax         386 1,638  
Transfer of loans to other real estate owned           212  
Recognition of ROU assets         832 760  
Recognition of lease liability         $ 833 707  
Acquisition:              
Assets acquired, net of cash received           109,429  
Liabilities assumed           120,409  
Cash consideration           13,886  
Goodwill           $ 3,372