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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:      
Net Income $ 26,209 $ 17,701 $ 10,596
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan and lease losses 4,200 1,390 500
Depreciation 3,204 2,815 2,395
Amortization of intangibles 1,398 1,430 1,224
Net amortization of security premiums 782 755 517
Amortization of operating lease right of use assets 1,670 1,678  
Amortization of finance lease right of use asset 180 150  
Gain on sales of investment securities (467) (1,878) (137)
Earnings on cash surrender value of life insurance (301) (331) (286)
Mortgage loans originated for sale (356,158) (163,228) (46,264)
Proceeds from sales of mortgage loans originated for sale 348,756 160,279 46,353
Gain on sale of mortgage loans (9,682) (3,771) (751)
SBA loans originated for sale (6,487) (13,792) (7,734)
Proceeds from sales of SBA loans originated for sale 6,929 14,622 8,296
Gain on sale of SBA loans (442) (831) (561)
Loss on write-down/disposal of property, plant, and equipment 242 168 71
Loss (gain) on sale or write-down of foreclosed assets 333 (15) 4
Restricted stock compensation expense 414 346 267
Deferred income tax (benefit) expense (1,367) 665 1,317
(Increase) decrease in accrued interest receivable (5,007) 280 (398)
Increase in other assets (1,971) (8,193) (1,779)
(Decrease) increase in accrued interest payable (201) (54) 528
Net change in operating lease liability (1,714) (1,782)  
Increase (decrease) in other liabilities 3,549 (573) (3,175)
Net Cash Provided By Operating Activities 14,069 7,831 10,983
Investing Activities:      
Proceeds from the sale of available-for-sale securities 101,739 154,307 158,271
Proceeds from the maturity or call of available-for-sale securities 8,538 13,659 17,235
Purchases of available-for-sale securities (78,542) (20,406) (24,830)
Proceeds from the maturity or call of held-to-maturity securities 107,583 23,160 14,493
Purchases of held-to-maturity securities (100,029) (58,848) (75,375)
Net cash received from acquisitions     72,616
(Purchases) redemptions of restricted investment in bank stocks (2,692) 1,744 72
Net increase in loans and leases (623,153) (139,430) (132,097)
Proceeds from bank owned life insurance   140  
Purchases of bank premises and equipment (3,685) (3,885) (8,958)
Proceeds from sale of bank premises and equipment 65 1,268  
Proceeds from sale of foreclosed assets 1,264 1,306 420
Net Cash (Used In) Provided By Investing Activities (588,912) (26,985) 21,847
Financing Activities:      
Net increase (decrease) in deposits 562,186 186,368 (12,469)
Net increase (decrease) in short-term borrowings 125,617 (43,100) (25,836)
Proceeds from long-term debt borrowings 70,000 13,500 30,000
Common stock dividends paid (6,504) (6,688) (4,513)
Treasury stock purchased (1,795)    
Net change in finance lease liability (83) (46)  
Long-term debt repayment (27,705) (32,184) (198)
Subordinated debt redemption (9,640)    
Subordinated debt issuance 27,150    
Net Cash Provided By (Used In) Financing Activities 739,537 118,119 (16,279)
Net increase in cash and cash equivalents 164,694 98,965 16,551
Cash and cash equivalents, beginning of year 139,030 40,065 23,514
Cash and cash equivalents, end of year 303,724 139,030 40,065
Supplemental Disclosures of Cash Flow Information:      
Interest paid 19,928 25,218 11,103
Income taxes paid 7,740 3,770 1,425
Supplemental Noncash Disclosures:      
Recognition of operating lease right-of-use assets 385 13,120  
Recognition of operating lease liabilities 370 14,326  
Recognition of finance lease right-of-use asset   3,597  
Recognition of finance lease liability   3,597  
Loan transfers to foreclosed assets held for sale 1,535 470 1,116
Debt securities transferred from held-to-maturity to available-for-sale   67,096  
Dividends declared and not paid before year-end 421    
First Priority and Scottdale [Member]      
Supplemental Noncash Disclosures:      
Common stock issued to First Priority and Scottdale shareholders     4,200
Assets Acquired:      
Securities [1]     177,016
Loans [1]     582,392
Restricted stock [1]     2,334
Property and equipment [1]     2,643
Foreclosed assets [1]     136
Deferred income taxes [1]     4,190
Accrued interest receivable [1]     3,282
Core deposit and other intangible assets [1]     7,976
Cash surrender value of life insurance [1]     3,363
Other assets [1]     1,100
Assets acquired [1]     784,432
Liabilities Assumed:      
Deposits [1]     714,927
Borrowings [1]     49,939
Accrued interest payable [1]     1,089
Other liabilities [1]     6,309
Liabilities assumed [1]     772,264
Equity Acquired:      
Preferred stock [1]     3,404
Employee [Member]      
Financing Activities:      
Proceeds from Stock Purchase Plan 155 134 119
Director [Member]      
Financing Activities:      
Proceeds from Stock Purchase Plan $ 156 $ 135 124
Series D Preferred Stock [Member]      
Financing Activities:      
Preferred stock dividends paid     (102)
Preferred stock redemption     $ (3,404)
[1]

This disclosure includes the impact of both the acquisition of The Scottdale Bank and Trust Company, effective January 8, 2018, and the acquisition of First Priority Financial Corp., effective July 31, 2018.  See Note 4, Acquisition of The Scottdale Bank and Trust Company, and Note 5, Acquisition of First Priority Financial Corp., to the consolidated financial statements for more information.