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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net income $ 11,197 $ 7,414
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 1,325 940
Depreciation and amortization 1,215 1,256
Net (gains) losses on the sale of OREO (188) 8
Unrealized (gains) losses on equity securities (156) 86
Gain on sale of assets 0 (1)
Net amortization of premium/discount on investment securities (87) 217
Net accretion of merger accounting adjustments (624) (642)
Amortization of core deposit intangible 525 597
Net change in right of use assets and lease liabilities 86  
Increase in OREO valuation allowance 766 425
Increase in cash surrender value of bank owned life insurance (662) (673)
Deferred income tax (benefit) expense (639) 110
Increase in accrued interest receivable (256) (104)
Stock based compensation 232 349
Net change due to (deficit) excess of fair market value over cost of leveraged ESOP shares released (4) 29
(Increase) decrease in net deferred loan costs (508) 169
(Decrease) increase in accrued expenses and other liabilities (311) 117
Decrease in other assets 180 2,779
Net Cash Provided by Operating Activities 12,091 13,076
Cash Flows from Investing Activities    
Purchase of AFS investment securities (18,133) (52,669)
Proceeds from redemption or principal payments of AFS investment securities 11,862 6,341
Purchase of HTM investment securities (9,982) (9,360)
Proceeds from maturities or principal payments of HTM investment securities 17,479 14,316
Proceeds from sale of AFS investment securities 0 34,919
Net (increase) decrease of FHLB stock (689) 4,933
Loans originated or acquired (346,818) (238,696)
Principal collected on loans 274,912 221,393
Purchase of premises and equipment (613) (866)
Proceeds from sale of OREO 324 982
Net cash acquired in business combination 0 32,450
Proceeds from disposal of asset 0 1,748
Net Cash (Used in) Provided by Investing Activities (71,658) 15,491
Cash Flows from Financing Activities    
Net increase in deposits 130,331 146,910
Proceeds from long-term debt 35,000 20,000
Payments of long-term debt (49) (55,048)
Net decrease in short term borrowings (20,000) (82,500)
Dividends paid (2,004) (1,623)
Net change in unearned ESOP shares (39) (61)
Repurchase of common stock (17) (67)
Net Cash Provided by Financing Activities 143,222 27,611
Increase in Cash and Cash Equivalents 83,655 56,178
Cash and Cash Equivalents - January 1 33,036 15,417
Cash and Cash Equivalents - September 30 116,691 71,595
Cash paid during the period for    
Interest 14,579 10,491
Income taxes 4,913 2,549
Supplemental Schedule of Non-Cash Operating Activities    
Issuance of common stock for payment of compensation 107 321
Transfer from loans to OREO 3,266 282
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 8,933 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