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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income $ 8,919,000 $ 4,154,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 919,000 999,000
Provision for loan losses 458,000 750,000
Net gain on calls and sales of debt and equity securities (636,000) (169,000)
Net unrealized (gain) loss on equity securities (1,675,000) 1,774,000
Net gain on sale of loans (472,000) (446,000)
Proceeds from sales of residential mortgages held-for-sale 13,124,000 10,193,000
Origination of residential mortgages held-for-sale (10,597,000) (12,449,000)
Increase in cash surrender value of bank-owned life insurance (336,000) (137,000)
Stock-based compensation expense 63,000 57,000
Deferred income tax provision (benefit) 536,000 (511,000)
Net (decrease) increase in income taxes payable (139,000) 392,000
Net increase (decrease) in accrued interest receivable 617,000 (904,000)
Amortization of mortgage servicing rights and change in valuation allowance 63,000 112,000
Net amortization of premiums and discounts on investment securities 1,527,000 959,000
Net decrease in accrued interest payable (110,000) (458,000)
Operating lease payments (324,000) (324,000)
Increase in other assets (1,127,000) (645,000)
Decrease in other liabilities (38,000) (1,408,000)
Net cash provided by operating activities 10,772,000 1,939,000
Investing Activities    
Proceeds from payments, maturities and calls of investments available-for-sale 58,198,000 95,070,000
Proceeds from the sale of investments available-for-sale 0 6,931,000
Proceeds from the sale of equity securities 2,412,000 1,428,000
Purchases of investments available-for-sale (176,992,000) (148,081,000)
Purchases of equity securities (2,702,000) (4,614,000)
Proceeds from redemption of investment in restricted stock   1,495,000
Purchases of restricted stock (101,000) (1,463,000)
Net increase in loans (1,466,000) (58,177,000)
Net purchases of premises and equipment (3,038,000) (345,000)
Redemption of Bank Owned Life Insurance investment 797,000  
Net cash used in investing activities (122,892,000) (107,756,000)
Financing Activities    
Net increase in non-interest bearing deposits 30,964,000 63,311,000
Net increase in interest-bearing deposits 84,702,000 82,017,000
Net increase in short-term borrowings 16,183,000 1,481,000
Increase in long-term debt   10,000,000
Cash dividends paid, net of reinvestment (2,187,000) (2,109,000)
Purchase of treasury shares (633,000)  
Proceeds from issuance of common stock 381,000 282,000
Net cash provided by financing activities 129,410,000 154,982,000
Increase in cash and cash equivalents 17,290,000 49,165,000
Cash and cash equivalents at beginning of year 39,331,000 17,608,000
Cash and cash equivalents at end of period 56,621,000 66,773,000
Supplemental Cash Flow Disclosures    
Interest paid 2,486,000 4,132,000
Net income taxes paid 1,826,000 712,000
Non-cash transactions:    
Unsettled trades to purchase securities (1,085,000) (1,873,000)
Right-of-use assets obtained in exchange for new operating lease liabilities $ 698,000 $ 1,086,000