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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net income $ 6,916,000 $ 7,455,000
Adjustments reconciling net income to net cash provided by operating activities:    
Provision for loan losses 5,262,000 524,000
Depreciation, amortization, and accretion 4,007,000 2,129,000
Share-based compensation expense 25,000 25,000
Net increase in servicing asset (207,000) 0
Interchange fees (1,009,000) (99,000)
Gain on sale of SBA loans (1,004,000) 0
Loss on sale of other real estate (56,000) (874,000)
Writedown on other real estate 68,000 104,000
Loss on sale of premises & equipment 56,000 165,000
Writedown of building 582,000 0
Originations of loans held for sale (75,268,000) (42,634,000)
Proceeds from sales of loans held for sale 30,484,000 33,900,000
Change in bank-owned life insurance 290,000 535,000
Change in other assets (1,715,000) (415,000)
Change in other liabilities 2,385,000 1,193,000
Net cash (used in) provided by operating activities (29,184,000) 2,008,000
Investing Activities    
Purchases of investment securities available for sale (124,864,000) (105,476,000)
Proceeds from maturities, calls, and paydowns of investment securities available for sale 71,564,000 50,804,000
Proceeds from sale of investment securities available for sale 44,495,000 99,106,000
Proceeds from sale of investment securities held to maturity 0 1,766,000
Net loans (135,801,000) (47,221,000)
Purchase of premises and equipment (2,796,000) (3,254,000)
Proceeds from sale of other real estate 1,139,000 2,489,000
Purchase of bank owned life insurance (10,000,000) (439,000)
Redemption (purchase) of Federal Home Loan Bank Stock 992,000 (315,000)
Proceeds from sale of premises and equipment 144,000 175,000
Net cash and cash equivalents paid in acquisition 0 (467,000)
Net cash (used in) investing activities (155,127,000) (2,832,000)
Financing Activities    
Change in noninterest-bearing customer deposits 91,500,000 (7,614,000)
Change in interest-bearing customer deposits 31,158,000 (15,943,000)
Dividends paid for common stock (2,850,000) (1,979,000)
Issuance of Paycheck Protection Program Liquidity Fund 140,700,000 0
Payment on Paycheck Protection Program Liquidity Fund (6,200,000) 0
Payments on Federal Home Loan Bank Advances (38,500,000) (8,000,000)
Proceeds from Federal Home Loan Bank Advances 14,000,000 15,000,000
Payments on Other borrowings (750,000) (500,000)
Proceeds from Other borrowings 0 15,313,000
Net cash provided by (used in) financing activities 229,058,000 (3,723,000)
Net increase (decrease) in cash and cash equivalents 44,747,000 (4,547,000)
Cash and cash equivalents at beginning of period 104,092,000 60,156,000
Cash and cash equivalents at end of period 148,839,000 55,609,000
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 6,230,000 9,294,000
Cash paid during the period for income taxes 1,250,000 0
Goodwill adjustment 485,000 0
Acquisition of real estate through foreclosure $ 1,706,000 $ 369,000