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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net Income $ 21,009,000 $ 14,475,000 $ 15,512,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 1,125,000 3,175,000 1,500,000
Provision for loan losses 1,125,000 3,175,000 1,500,000
Change in deferred loan origination costs/fees, net (3,193,000) 2,308,000 (684,000)
Stock-based compensation expense 223,000 255,000 224,000
Depreciation and amortization 1,673,000 1,424,000 1,391,000
Amortization of investment security premiums 1,134,000 1,066,000 802,000
Loss (gain) on sale of investment securities 209,000 0 (114,000)
Gain on sale of loans held for sale (1,008,000) (1,344,000) (867,000)
Loans originated for sale (43,487,000) (22,285,000) (20,416,000)
Proceeds from loan sales 15,799,000 28,994,000 19,457,000
Gain on sale of building 0 (218,000) 0
Provision from change in OREO valuation 37,000 0 40,000
Net loss (gain) on sale of OREO 2,000 (9,000) (275,000)
Net loss (gain) on sale of other vehicles owned 1,000 7,000 (5,000)
Earnings on bank owned life insurance policies (380,000) (342,000) (328,000)
Benefit for deferred income taxes (1,303,000) (1,067,000) (166,000)
Increase in accrued interest receivable and other assets (947,000) (3,030,000) (100,000)
Increase (decrease) in accrued interest payable and other liabilities 688,000 1,221,000 (494,000)
Net cash provided by operating activities (8,418,000) 24,630,000 15,477,000
Cash flows from investing activities:      
Proceeds from matured and called available-for-sale investment securities 500,000 500,000 200,000
Proceeds from sale of available-for-sale securities 19,981,000 0 19,668,000
Purchases of available-for-sale investment securities (196,161,000) (61,163,000) (27,801,000)
Proceeds from principal repayments from available-for-sale government-guaranteed mortgage-backed securities 43,178,000 43,062,000 25,257,000
Net decrease (increase) in loans 30,468,000 (96,568,000) (53,477,000)
Cash acquired in acquisition, net of consideration paid 23,631,000 0 0
Proceeds from sale of vehicles 324,000 458,000 636,000
Proceeds from sale of other real estate 137,000 369,000 698,000
Proceeds from sale of building 0 1,348,000 0
Purchases of FHLB stock (231,000) (150,000) (490,000)
Purchase of FRB Stock (706,000) (651,000) 0
Purchases of premises and equipment (931,000) (1,606,000) (1,397,000)
Net cash used in investing activities (79,810,000) (114,401,000) (36,706,000)
Cash flows from financing activities:      
Net increase in demand, interest-bearing and savings deposits 296,547,000 224,528,000 39,531,000
Net (decrease) increase in time deposits (8,233,000) 2,122,000 (18,772,000)
Net increase (decrease) in securities sold under agreements to repurchase 3,405,000 (2,135,000) 2,955,000
Cash dividends paid on common stock (3,081,000) (1,866,000) (2,373,000)
Proceeds from FHLB advances 0 10,000,000 0
Repayment of FHLB advances (5,000,000) (5,000,000) 0
Proceeds from exercise of stock options 265,000 89,000 144,000
Net cash provided by financing activities 283,903,000 227,738,000 21,485,000
Increase in cash and cash equivalents 195,675,000 137,967,000 256,000
Cash and cash equivalents at beginning of year 184,909,000 46,942,000 46,686,000
Cash and cash equivalents at end of year 380,584,000 184,909,000 46,942,000
Supplemental disclosure of cash flow information:      
Interest expense 1,127,000 1,255,000 1,739,000
Income taxes 9,190,000 6,774,000 6,019,000
Assets acquired in acquisition plus goodwill recognized, net 204,960,000 0 0
Liabilities assumed in acquisition 181,565,000 0 0
Non-Cash Investing Activities:      
Real estate acquired through foreclosure 258,000 56,000 0
Vehicles acquired through repossession 342,000 439,000 635,000
Common stock retired in connection with the exercise of stock options $ 119,000 $ 46,000 $ 42,000