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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Jun. 30, 2020
Mar. 31, 2020
Cash flows from operating activities:        
Net income $ 4,920 $ 5,072 $ 3,847 $ 916
Adjustments to reconcile net income to net cash provided by operating activities:        
Provision for loan and lease losses 0     2,850
Provision for depreciation and amortization 372     303
Amortization of core deposit intangible 192     191
Amortization of debt issuance costs 0     12
Compensation expense associated with restricted stock 127     106
Tax benefits from vesting of restricted stock 0     3
Net gain on sale or call of securities (7)     (84)
Amortization of premiums and accretion of discounts on investments, net 659     320
Amortization of premiums and accretion of discounts on acquired loans, net (229)     (332)
Loss on disposal of fixed assets 0     232
Write-down of other real estate owned 8     0
Loss on sale of OREO 0     23
Increase in cash surrender value of life insurance (121)     (123)
Deferred compensation and salary continuation plan payments (220)     (271)
Increase in deferred compensation and salary continuation plans 198     214
Net decrease in deferred loan fees and costs 87     33
Decrease (increase) in other assets 1,230     (1,602)
(Decrease) increase in other liabilities (886)     976
Net cash provided by operating activities 6,330     3,767
Cash flows from investing activities:        
Proceeds from maturities of and payments on available-for-sale securities 24,898     17,410
Proceeds from sale of available-for-sale securities 11,890     29,339
Purchases of available-for-sale securities (114,758)     (40,038)
Investment in qualified affordable housing partnerships (99)     0
Loan originations, net of principal repayments (9,708)     (24,900)
Net repayment on loan pools 3,842     5,868
Purchase of premises and equipment (238)     (85)
Proceeds from the sale of OREO 0     12
Net cash used in investing activities (84,173)     (12,394)
Cash flows from financing activities:        
Net increase (decrease) in demand, money market and savings deposits 73,663     (16,555)
Net decrease in certificates of deposit (2,049)     (8,229)
Advances on term debt 0     10,000
Repayment of term debt (5,000)     0
Proceeds from stock options exercised 197     0
Repurchase of common stock 0     (12,230)
Cash paid for restricted shares surrendered for tax-withholding purposes (97)     (120)
Cash dividends paid on common stock (1,000)     (903)
Net cash provided (used) by financing activities 65,714     (28,037)
Net decrease in cash and cash equivalents (12,129)     (36,664)
Cash and cash equivalents at beginning of year 106,986   $ 43,940 80,604
Cash and cash equivalents at end of period 94,857 $ 106,986   43,940
Cash paid during the period for:        
Income taxes 1,900     350
Interest 773     1,167
Operating leases 243     246
Supplemental disclosures of non-cash investing activities:        
Transfer of loans to other real estate owned 0     8
Investment in qualified affordable housing partnership 0     1,000
Unrealized (loss) gain on investment securities available-for-sale, net of gains included in net income (6,680)     4,749
Changes in net deferred tax asset related to changes in net unrealized gain on investment securities available-for-sale 1,975     (1,403)
Changes in accumulated other comprehensive income due to net unrealized (loss) gain on investment securities available-for-sale (4,705)     3,346
Supplemental disclosures of non-cash financing activities:        
Cash dividend declared on common shares and payable after period-end $ 1,004     $ 838