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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 3,771 $ 3,892
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 916 750
Provision for loan losses 2,395 3,300
Provision for indemnifications   36
Share-based compensation 457 319
Pension expense 141 135
Pension contribution   (3,000)
Net accretion of certain acquisition-related discounts (365) (894)
Accretion of discounts and amortization of premiums on securities, net 410 445
Amortization of intangible assets 78 134
Net realized gains on maturities and calls of securities available for sale (4) (5)
Net realized gains on sale of corporate premises and equipment (10) (27)
Income from bank-owned life insurance (83) (81)
Origination of loans held for sale (138,705) (143,903)
Proceeds from sales of loans held for sale 146,701 161,872
Gains on sales of loans held for sale (2,136) (2,239)
Change in other assets and liabilities:    
Accrued interest receivable 169 400
Other assets 1,138 173
Accrued interest payable 246 7
Other liabilities (3,322) 795
Net cash provided by operating activities 11,797 22,109
Investing activities:    
Proceeds from maturities and calls of securities available for sale and payments on mortgage-backed securities 15,657 12,735
Purchases of securities available for sale (8,338) (15,150)
Net purchases of restricted stock (10) (55)
Purchases of loans held for investment by non-bank affiliates (36,854) (31,886)
Repayments on loans held for investment by non-bank affiliates 30,599 28,121
Net (increase) decrease in retail banking loans held for investment (9,740) 886
Purchases of corporate premises and equipment (753) (621)
Proceeds from sales of corporate premises and equipment 13  
Net cash used in investing activities (9,426) (5,970)
Financing activities:    
Net (decrease) increase in demand and savings deposits (11,057) 8,260
Net increase in time deposits 31,590 6,404
Net increase (decrease) in short-term borrowings 2,107 (880)
Issuance of common stock 36 36
Purchase of common stock, excluding shares withheld to pay taxes (1,667)  
Issuance of noncontrolling interest 490  
Cash dividends paid (1,288) (1,190)
Other financing activities (144) (144)
Net cash provided by financing activities 20,067 12,486
Net increase in cash and cash equivalents 22,438 28,625
Cash and cash equivalents at beginning of periods 115,013 [1] 119,423
Cash and cash equivalents at end of period 137,451 148,048
Supplemental cash flow disclosures:    
Interest paid 3,049 2,560
Income taxes paid 8 8
Supplemental disclosure of noncash investing and financing activities    
Value of shares withheld at vesting for employee taxes $ 237 $ 219
[1] Derived from audited consolidated financial statements.