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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 16,924 $ 12,805 $ 8,090
Adjustments to reconcile net income to net cash provided by operating activities:      
Net premium amortization (discount accretion) (2,547) 1,406 4,034
Depreciation and amortization expense 5,547 3,642 3,265
Provision for loan losses 900 800 1,000
Share-based compensation 1,586 1,493 1,386
Gain on sales of loans originated for sale (2,613) (2,144) (2,447)
Mortgage loans originated for sale 112,568 90,305 104,512
Proceeds from sales of loans originated for sale 108,885 94,727 103,131
Gain on sale of portfolio loans 0 (291) (32)
Net gain on disposal of OREO (156) (108) (18)
Writedown of OREO 0 24 4
Net loss (gain) on disposal of premises and equipment 139 12 (18)
Deferred income taxes 1,776 543 3,078
Investment securities gains (4,749) (1,006) (1,190)
Income from life insurance (2,044) (1,463) (1,109)
Increase in accrued interest receivable 1,248 (879) (376)
Increase in accrued interest payable and other liabilities (5,291) 2,696 2,012
Other, net 2,053 535 52
Net cash provided by operating activities 9,090 22,487 16,350
Cash flows from investing activities      
Proceeds from sale of AFS securities 199,928 156,364 162,320
Maturities, repayments and calls of AFS securities 33,265 18,373 28,768
Purchases of AFS securities (190,530) (226,014) (203,719)
Net cash and cash equivalents received from acquisitions 29,442 12,407 0
Net purchases of restricted investments in bank stocks (2,684) (592) (2,027)
Net increase in loans (46,157) (99,828) (130,791)
Proceeds from sales of portfolio loans 0 3,589 2,195
Purchases of bank premises and equipment (2,911) (4,791) (2,653)
Proceeds from disposal of OREO 1,318 1,413 541
Purchases of bank owned life insurance (3,280) (900) (600)
Death benefit proceeds from life insurance contracts 571 576 0
Other 0 7 74
Net cash provided by (used in) investing activities 18,962 (139,396) (145,892)
Cash flows from financing activities      
Net (decrease) increase in deposits (71,561) 178,798 67,063
Net increase (decrease) in borrowings with original maturities less than 90 days 115,800 (14,507) (34,288)
Proceeds from Short-term Debt, Maturing in More than Three Months 0 25,000 70,000
Payments on other short-term borrowings (25,000) (40,000) (30,000)
Proceeds from long-term debt 20,000 0 80,000
Payments on long-term debt (91,776) (365) (20,348)
Proceeds from subordinated notes, net of issuance costs 0 31,857 0
Payment of subordinated notes issuance costs (59) 0 0
Dividends paid (6,150) (4,375) (3,488)
Treasury shares repurchased for employee taxes associated with restricted stock vesting (1,772) (651) 0
Proceeds from issuance of stock for option exercises and employee stock purchase plan 113 160 137
Net cash (used in) provided by financing activities (60,405) 175,917 129,076
Net (decrease) increase in cash and cash equivalents (32,353) 59,008 (466)
Cash and cash equivalents at beginning of year 88,815 29,807 30,273
Cash and cash equivalents at end of year 56,462 88,815 29,807
Supplemental disclosure of cash flow information:      
Cash paid for interest 24,313 12,930 7,586
Cash paid for income taxes 0 60 1,638
Supplemental schedule of noncash investing and financing activities:      
Other real estate acquired in settlement of loans 161 539 1,007
Premises and equipment transferred to held for sale $ 4,894 $ 1,003 $ 0