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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net income $ 7,932,000 $ 9,612,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,499,000 1,277,000
Provision for loan losses 1,000,000 925,000
Net gain on calls and sales of debt and equity securities (367,000) (1,563,000)
Net unrealized loss (gain) on equity securities 1,147,000 (266,000)
Net loss (gain) on sale of other real estate and premises and equipment 6,000 (58,000)
Net gain on sale of loans (1,035,000) (112,000)
Proceeds from sales of residential mortgages held-for-sale 21,756,000 4,043,000
Origination of residential mortgages held-for-sale (28,821,000) (4,171,000)
Increase in cash surrender value of bank-owned life insurance (207,000) (208,000)
Stock-based compensation expense 81,000 84,000
Deferred income tax (benefit) provision (492,000) 214,000
Net increase in income taxes payable 525,000 493,000
Net increase in accrued interest receivable (1,846,000) (424,000)
Amortization of mortgage servicing rights and change in valuation allowance 116,000 44,000
Net amortization of premiums and discounts on investment securities 1,664,000 1,117,000
Net (decrease) increase in accrued interest payable (462,000) 341,000
Operating lease payments (488,000) (431,000)
Decrease (increase) in other assets 385,000 (837,000)
Decrease in other liabilities (1,610,000) (383,000)
Net cash provided by operating activities 783,000 9,697,000
Investing Activities    
Proceeds from payments, maturities and calls of investments available-for-sale 151,534,000 43,455,000
Proceeds from the sale of investments available-for-sale 6,931,000 30,294,000
Proceeds from the sale of equity securities 3,694,000 10,924,000
Purchases of investments available-for-sale (248,591,000) (82,126,000)
Purchases of equity securities (7,017,000) (5,488,000)
Proceeds from redemption of investment in restricted stock 1,495,000 7,399,000
Purchases of restricted stock (1,463,000) (8,683,000)
Net increase in loans (67,298,000) (45,373,000)
Net purchases of premises and equipment (421,000) (1,761,000)
Proceeds from sales of other real estate owned   58,000
Net cash used in investing activities (161,136,000) (51,301,000)
Financing Activities    
Net increase in non-interest bearing deposits 59,222,000 22,329,000
Net increase in interest-bearing deposits 117,381,000 10,262,000
Net (decrease) increase in short-term borrowings (3,525,000) 19,073,000
Increase in long-term debt 10,000,000  
Cash dividends paid, net of reinvestment (3,163,000) (3,055,000)
Proceeds from issuance of common stock 350,000 324,000
Net cash provided by financing activities 180,265,000 48,933,000
Increase in cash and cash equivalents 19,912,000 7,329,000
Cash and cash equivalents at beginning of year 17,608,000 13,458,000
Cash and cash equivalents at end of period 37,520,000 20,787,000
Supplemental Cash Flow Disclosures    
Interest paid 5,569,000 7,348,000
Net income taxes paid 1,473,000 921,000
Non-cash transactions:    
Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,086,000 $ 2,407,000