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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net Income $ 9,780 $ 9,588
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and software amortization 616 949
Net loss on securities 403 206
Net amortization of securities 485 476
Amortization of core deposit intangible 132 132
Provision for loan losses 2,004 1,500
Gain on sale of foreclosed assets 0 (10)
Stock-based compensation 476 390
Net (increase) decrease in loans held for sale (309) 2,929
Income from bank owned life insurance (287) (252)
(Increase) decrease in interest receivable (669) 518
Decrease in interest payable (44) (103)
Net other operating activities 4,993 (723)
Net cash provided by operating activities 17,580 15,600
INVESTING ACTIVITIES    
Purchase of securities available for sale (39,668) (34,244)
Purchase of other equity securities 0 (9,000)
Proceeds from sale of securities available for sale 0 15,758
Proceeds from sale of other equity securities 1,978 4,995
Proceeds from maturities, calls, and paydowns of securities available for sale 5,250 5,852
Net (purchase) redemption of restricted equity securities (225) 436
Purchase of annuities (2,622) 0
Purchase of bank owned life insurance (7,021) 0
Net increase in loans (179,946) (67,564)
Proceeds from sale of foreclosed assets 0 188
Purchase of premises, equipment and software (2,040) (1,534)
Net cash used in investing activities (224,294) (85,113)
FINANCING ACTIVITIES    
Net increase in deposits 88,495 172,949
Proceeds from issuance of common stock 0 165
Repurchase of common stock (7,356) 0
Repayment of FHLB advances (950)  
Proceeds of FHLB advances   1,000
Net proceeds of other borrowings 0 21
Repayment of note payable (12,498)  
Proceeds of note payable   4,500
Proceeds of subordinated notes 47,013  
Repayment of subordinated notes   (4,500)
Common stock dividends paid (1,599) (1,386)
Net cash provided by financing activities 113,105 172,749
Net (decrease) increase in cash and cash equivalents (93,609) 103,236
Cash and cash equivalents at beginning of year 283,956 84,907
Cash and cash equivalents at end of year 190,347 188,143
Cash paid during the year for:    
Interest 2,649 2,798
Income taxes 3,211 3,797
NONCASH TRANSACTIONS    
Transfers of loans to foreclosed assets 0 100
Internally financed sale of foreclosed assets $ 0 $ 0