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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,864 $ 4,913
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (73) (138)
Gain on sales of foreclosed assets held for resale, including writedowns (66) (9)
Earnings on investment in bank-owned life insurance (264) (257)
(Gain) loss on equity securities (33) 33
Restricted stock compensation expense 126 186
Depreciation and amortization 678 706
Provision for loan losses 150 250
Net amortization of investment securities premiums 93 120
Increase in accrued interest receivable (502) (588)
Increase in accrued interest payable 250 175
Mortgage loans originated for sale (3,704) (6,186)
Proceeds from sales of loans originated for sale 3,885 7,586
Increase in other assets (660) (98)
Decrease in deferred tax expense 110 195
Increase in other liabilities 968 733
Net Cash Provided by Operating Activities 6,822 7,621
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 1,193 3,449
Proceeds from maturities of investment securities available for sale 2,121 3,842
Purchase of investment securities available for sale 0 (3,986)
Purchase of equity securities (500) 0
Purchase of restricted investment in bank stocks (46) (29)
Net decrease in loans 988 5,372
Purchase of bank-owned life insurance (1,500) (500)
Insurance book- acquisition (50) (600)
Capital expenditures (161) (357)
Proceeds from sales of foreclosed real estate 221 50
Net Cash Provided by Investing Activities 2,266 7,241
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in demand deposits 17,957 10,920
Net increase in time certificates of deposits and interest bearing deposits 1,009 4,002
Net decrease in short-term borrowings (4,889) (3,473)
Proceeds from long-term borrowings 7,000 8,716
Repayments on long-term borrowings (8,109) (8,000)
Dividends paid (1,621) (1,405)
Common stock issued 13 134
Net Cash Provided by Financing Activities 11,360 10,894
Net Increase in Cash and Cash Equivalents 20,448 25,756
CASH AND CASH EQUIVALENTS — BEGINNING 40,905 34,441
CASH AND CASH EQUIVALENTS — ENDING 61,353 60,197
Supplemental disclosures of cash flow information    
Interest paid 1,970 1,518
Income taxes paid 0 500
Loans transferred to foreclosed assets held for resale and other foreclosed transactions $ 48 $ 235