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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 $ 43,526,000 $ 30,045,000 $ 20,906,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for (recovery of) loan losses (2,825,000) 8,916,000 456,000
Depreciation 2,243,000 2,188,000 2,064,000
Net accretion of acquisition accounting adjustments (5,236,000) (3,812,000) (3,387,000)
Amortization of intangible assets 1,464,000 1,637,000 1,398,000
Net amortization of securities 1,846,000 1,186,000 1,100,000
Net gain on sale or call of securities available for sale (35,000) (814,000) (274,000)
Net change in fair value of equity securities 0 0 (333,000)
Gain on sale of loans held for sale (4,195,000) (3,514,000) (2,439,000)
Proceeds from sales of loans held for sale 154,041,000 155,705,000 103,760,000
Originations of loans held for sale (142,736,000) (165,755,000) (102,708,000)
Net (gain) loss on other real estate owned 111,000 (4,000) (120,000)
Valuation allowance on other real estate owned 0 0 68,000
Net loss on sale, write-down or disposal of premises and equipment 885,000 110,000 427,000
Equity based compensation expense 1,432,000 1,451,000 1,541,000
Earnings on bank owned life insurance (625,000) (665,000) (630,000)
Deferred income tax (benefit) expense 808,000 (640,000) 1,068,000
Net change in other assets 245,000 29,000 11,137,000
Net change in other liabilities 146,000 (2,387,000) (1,354,000)
Net cash provided by operating activities 51,095,000 23,676,000 32,680,000
Cash Flows from Investing Activities:      
Proceeds from sales of equity securities 0 0 445,000
Proceeds from sales of securities available for sale 561,000 5,811,000 29,878,000
Proceeds from maturities, calls and paydowns of securities available for sale 192,672,000 208,429,000 123,915,000
Purchases of securities available for sale (433,690,000) (295,109,000) (155,746,000)
Net change in restricted stock 659,000 (85,000) (795,000)
Proceeds from sales of purchased credit impaired loans 0 4,939,000 0
Net decrease (increase) in loans 73,836,000 (186,635,000) (26,257,000)
Proceeds from sale of premises and equipment 2,031,000 1,000 0
Purchases of premises and equipment (1,000,000) (2,694,000) (3,555,000)
Proceeds from sales of other real estate owned 704,000 195,000 1,289,000
Cash paid in bank acquisition 0 0 (27,000)
Cash acquired in bank acquisition 0 0 26,283,000
Net cash used in investing activities (164,227,000) (265,148,000) (4,570,000)
Cash Flows from Financing Activities:      
Net change in noninterest-bearing deposits 178,987,000 251,488,000 23,310,000
Net change in interest-bearing deposits 100,114,000 299,476,000 (12,241,000)
Net change in customer repurchase agreements (1,423,000) 2,076,000 5,232,000
Net change in other short-term borrowings 0 0 (14,883,000)
Net change in long-term borrowings (7,500,000) 0 (778,000)
Common stock dividends paid (11,827,000) (11,842,000) (10,965,000)
Repurchase of common stock (8,810,000) (4,981,000) (3,146,000)
Proceeds from exercise of stock options 89,000 43,000 688,000
Net cash provided by (used in) financing activities 249,630,000 536,260,000 (12,783,000)
Net Increase in Cash and Cash Equivalents 136,498,000 294,788,000 15,327,000
Cash and Cash Equivalents at Beginning of Period 374,370,000 79,582,000 64,255,000
Cash and Cash Equivalents at End of Period $ 510,868,000 $ 374,370,000 $ 79,582,000