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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 7,382,000 $ 9,613,000
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 1,791,000 1,826,000
Provision for loan losses 6,250,000 4,205,000
Share-based compensation 701,000 767,000
Pension expense 396,000 324,000
Accretion of certain acquisition-related discounts, net (1,972,000) (1,638,000)
Amortization of intangible assets 166,000 141,000
Net realized gains on sales, maturities and calls of securities available for sale (7,000) (5,000)
Net realized losses on sale of corporate premises and equipment 509,000 11,000
Accretion of discounts and amortization of premiums on securities, net 941,000 811,000
Income from bank-owned life insurance (206,000) (168,000)
Proceeds from sales of loans held for sale 624,112,000 342,531,000
Origination of loans held for sale (698,740,000) (385,581,000)
Gains on sales of loans held for sale (8,281,000) (5,091,000)
Other losses, net 305,000 23,000
Change in other assets and liabilities:    
Accrued interest receivable (898,000) 207,000
Other assets 929,000 1,731,000
Accrued interest payable (341,000) 356,000
Other liabilities 208,000 2,425,000
Net cash used in operating activities (66,755,000) (27,512,000)
Investing activities:    
Acquisition of Peoples Bankshares, Incorporated 19,101,000  
Disposition of assets related to business combination 8,004,000  
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 70,780,000 33,639,000
Purchases of securities available for sale (107,964,000) (16,594,000)
Purchases of time deposits, net (6,464,000)  
Repayments on loans held for investment by non-bank affiliates 62,462,000 60,675,000
Purchases of loans held for investment by non-bank affiliates (53,013,000) (77,356,000)
Net increase in community banking loans held for investment (102,276,000) (14,717,000)
Proceeds from sales of other real estate owned 281,000 521,000
Purchases of corporate premises and equipment (3,453,000) (1,471,000)
Changes in collateral posted with other financial institutions, net (9,270,000) (2,100,000)
Other investing activities, net 38,000 8,000
Net cash used in investing activities (121,774,000) (17,395,000)
Financing activities:    
Net increase (decrease) in demand and savings deposits 189,256,000 (21,409,000)
Net (decrease) increase in time deposits (6,394,000) 49,957,000
Net increase in short-term borrowings 6,288,000 1,927,000
Repayments of long-term borrowings (82,553,000)  
Repurchases of common stock (355,000) (3,288,000)
Cash dividends paid (2,773,000) (2,564,000)
Other financing activities, net (73,000) (74,000)
Net cash provided by financing activities 103,396,000 24,549,000
Net decrease in cash and cash equivalents (85,133,000) (20,358,000)
Cash and cash equivalents at beginning of periods 165,433,000 [1] 115,013,000
Cash and cash equivalents at end of period 80,300,000 94,655,000
Supplemental cash flow disclosures:    
Interest paid 8,010,000 6,581,000
Income taxes paid 2,130,000 546,000
Supplemental disclosure of noncash investing and financing activities    
Value of shares withheld at vesting for employee taxes 263,000 247,000
Liabilities assumed to acquire right of use assets at lease commencement $ 2,778,000 1,048,000
Issuance of noncontrolling interest   $ 490,000
[1] Derived from audited consolidated financial statements.