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Consolidated Statement of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES    
Net income $ 18,633,000 $ 8,349,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 700,000 9,840,000
(Gain) loss on equity securities [1] (209,000) 101,000
Depreciation and amortization of premises and equipment, net 1,420,000 1,342,000
Software amortization expense 361,000 351,000
Financing lease amortization expense 313,000 286,000
Gain on sale of premises and equipment 0 (27,000)
Amortization of premium and discount on investment securities, net 506,000 365,000
Accretion of deferred loan fees, net (4,780,000) (2,790,000)
Amortization of core deposit intangibles 321,000 332,000
Stock-based compensation (income) expense, net 478,000 144,000
Origination of loans held for sale (34,081,000) (42,487,000)
Proceeds from sale of loans 35,148,000 44,316,000
Gain on sale of loans (1,240,000) (1,487,000)
Earnings on bank-owned life insurance [1] (546,000) (427,000)
Deferred income tax (401,000) (1,348,000)
Gain on other real estate owned (43,000) (253,000)
Increase in accrued interest receivable 1,078,000 (1,739,000)
Decrease in accrued interest payable (343,000) (337,000)
Other, net (1,893,000) 551,000
Net cash provided by operating activities 15,422,000 15,082,000
INVESTING ACTIVITIES    
Proceeds from repayments and maturities 11,521,000 18,170,000
Purchases (68,907,000) (24,071,000)
Decrease (increase) in loans, net 127,294,000 (127,874,000)
Proceeds from the sale of other real estate owned 501,000 709,000
Net purchase of premises and equipment (605,000) (1,077,000)
Proceeds from the disposal of premises and equipment 0 27,000
Purchase of restricted stock 0 (1,600,000)
Redemption of restricted stock 658,000 391,000
Proceeds from bank-owned life insurance 424,000 0
Net cash (used in) provided by investing activities 70,886,000 (135,325,000)
FINANCING ACTIVITIES    
Net (decrease) increase in deposits (58,590,000) 204,357,000
Decrease in short-term borrowings, net 0 (5,075,000)
Proceeds from other borrowings 0 3,952,000
Repayment of other borrowings (4,204,000) (674,000)
Stock options exercised 94,000 12,000
Repurchase of treasury shares (12,291,000) (1,191,000)
Cash dividends (4,240,000) (3,834,000)
Net cash (used in) provided by financing activities (79,231,000) 197,547,000
Increase (decrease) in cash and cash equivalents 7,077,000 77,304,000
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 112,417,000 35,113,000
CASH AND CASH EQUIVALENTS AT END OF YEAR 119,494,000 112,417,000
SUPPLEMENTAL INFORMATION    
Interest on deposits and borrowings 4,408,000 9,587,000
Income taxes 5,526,000 2,177,000
Transfers from loans to other real estate owned 63,000 7,688,000
Finance lease assets added to premises and equipment (67,000) (1,010,000)
Finance lease liabilities added to borrowed funds $ 67,000 $ 1,010,000
[1] Not within scope of ASC 606