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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities    
Net income $ 7,504 $ 3,556
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 875 900
Depreciation and amortization 813 831
Net (gains) losses on the sale of OREO (188) 8
Unrealized (gains) losses on equity securities (121) 78
Gain on sale of assets 0 (1)
Net amortization of premium/discount on investment securities (77) 166
Net accretion of merger accounting adjustments (381) (477)
Amortization of core deposit intangible 356 404
Net change in right of use assets and lease liabilities 68  
Increase in OREO valuation allowance 637 283
Increase in cash surrender value of bank owned life insurance (439) (446)
Deferred income tax benefit (320) 314
(Increase) decrease in accrued interest receivable (474) 143
Stock based compensation 169 238
Net change due to (deficit) excess of fair market value over cost of leveraged ESOP shares released (4) 21
Increase in net deferred loan costs (181) (35)
Decrease in accrued expenses and other liabilities (1,519) (114)
(Increase) decrease in other assets (843) 1,024
Net Cash Provided by Operating Activities 5,875 6,893
Cash Flows from Investing Activities    
Purchase of AFS investment securities (13,112) (20,550)
Proceeds from redemption or principal payments of AFS investment securities 6,959 3,812
Purchase of HTM investment securities (8,495) (8,360)
Proceeds from maturities or principal payments of HTM investment securities 9,040 9,735
Proceeds from sale of AFS investment securities 0 34,919
Net decrease of FHLB stock 586 3,169
Loans originated or acquired (226,582) (144,067)
Principal collected on loans 182,797 143,993
Purchase of premises and equipment (466) (480)
Proceeds from sale of OREO 324 982
Net cash acquired in business combination 0 32,411
Proceeds from disposal of asset 0 1,292
Net Cash (Used in) Provided by Investing Activities (48,949) 56,856
Cash Flows from Financing Activities    
Net increase in deposits 64,814 18,404
Proceeds from long-term debt 10,000 0
Payments of long-term debt (33) (25,032)
Net decrease in short term borrowings (25,000) (51,000)
Dividends paid (1,341) (1,086)
Net change in unearned ESOP shares (39) 0
Repurchase of common stock (17) (67)
Net Cash Provided by (Used in) Financing Activities 48,384 (58,781)
Increase in Cash and Cash Equivalents 5,310 4,968
Cash and Cash Equivalents - January 1 33,036 15,417
Cash and Cash Equivalents - June 30 38,346 20,385
Cash paid during the period for    
Interest 9,524 3,403
Income taxes 3,853 2,549
Supplemental Schedule of Non-Cash Operating Activities    
Issuance of common stock for payment of compensation 107 321
Transfer from loans to OREO 3,249 101
Financed amount of sale of OREO 280 0
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Right-of use assets and lease liability recorded upon adoption of ASC 842 9,992 0
Business Combination Non-Cash Disclosures    
Assets acquired in business combination (net of cash received) 0 192,259
Liabilities assumed in business combination $ 0 $ 200,660