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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 10,874,000 $ 12,035,000
Adjustments to reconcile net income to net cash from operating activities    
Depreciation 987,000 1,150,000
Provision for loan losses 1,590,000 890,000
Amortization (accretion), net 666,000 80,000
Writedowns (gains on the sale) of other real estate owned, net 263,000 100,000
Stock compensation expense 226,000 209,000
Changes in:    
Interest receivable (1,298,000) (380,000)
Other assets (496,000) (155,000)
Interest payable (274,000) 152,000
Other liabilities 2,213,000 (380,000)
Net cash from operating activities 14,751,000 13,701,000
Cash flows from investing activities    
Purchases of securities available for sale (91,614,000) (21,020,000)
Proceeds from maturities and calls of securities available for sale 73,821,000 35,107,000
Purchase of FHLB stock 0 (10,000)
Redemption of FHLB stock 164,000 100,000
Net change in loans (70,720,000) 273,000
Purchases of premises and equipment, net (360,000) (876,000)
Proceeds from sales of other real estate acquired through foreclosure 612,000 633,000
Net cash from (used in) investing activities (88,097,000) 14,207,000
Cash flows from financing activities    
Net change in deposits 112,361,000 (2,804,000)
Net change in agreements to repurchase securities 7,309,000 (1,228,000)
Repayment of other borrowed funds 0 (2,500,000)
Repayment of FHLB advances (3,400,000) (2,500,000)
Proceeds from stock option exercises 31,000 140,000
Common stock dividends paid (4,401,000) (4,390,000)
Net cash from financing activities 111,900,000 (13,282,000)
Net change in cash and cash equivalents 38,554,000 14,626,000
Cash and cash equivalents at beginning of period 95,056,000 80,775,000
Cash and cash equivalents at end of period 133,610,000 95,401,000
Supplemental disclosures of cash flow information:    
Cash paid during period for interest 4,404,000 4,528,000
Cash paid during period for income taxes 0 3,500,000
Loans transferred to real estate acquired through foreclosure 900,000 957,000
Operating right-of-use asset resulting from lease liability $ 78,000 $ 7,558,000