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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 24,196 $ 20,168 $ 14,819
Adjustments to reconcile net income to net cash from operating activities      
Depreciation 2,046 1,722 1,720
Provision for loan losses 1,250 2,315 2,499
Amortization (accretion), net 7 1,295 1,586
Writedowns (gains) on other real estate owned, net 978 (450) 874
Stock compensation expense 301 252 217
Changes in:      
Interest receivable (59) 300 (181)
Deferred income taxes 512 33 797
Other assets 287 1,404 (1,047)
Interest payable 54 157 29
Other liabilities (341) (62) (922)
Net cash from operating activities 29,231 27,134 20,391
Cash flows from investing activities      
Net change on time deposits with other banks 496 1,488 (250)
Purchases of securities available for sale (66,684) (110,869) (57,223)
Proceeds from maturities, sales and calls of securities available for sale 95,014 65,181 65,794
Purchase of FHLB stock (10) 0 0
Redemption of FHLB stock 273 792 15
Acquisition of subsidiary, net of cash acquired (paid) (4,863) 2,591 0
Net change in loans (5,241) 13,431 (36,792)
Purchases of premises and equipment, net (1,589) (3,460) (1,382)
Proceeds from sales of other real estate owned 2,348 7,778 4,577
Net cash from (used in) investing activities 19,744 (23,068) (25,261)
Cash flows from financing activities      
Net change in deposits (20,118) 25,280 (6,735)
Net change in agreements to repurchase securities (1,634) (1,609) (510)
Repayment of other borrowed funds (2,500) (2,500) (3,859)
Repayment of other FHLB advances (2,500) (19,500) 0
Proceeds from stock option exercises 246 193 317
Cash in lieu of fractional shares 0 (13) 0
Common stock dividends paid (8,786) (7,805) (6,398)
Net cash from (used in) financing activities (35,292) (5,954) (17,185)
Net change in cash and cash equivalents 13,683 (1,888) (22,055)
Cash and cash equivalents at beginning of year 80,775 82,663 104,718
Cash and cash equivalents at end of year 94,458 80,775 82,663
Cash paid during year for -      
Interest 9,623 5,911 4,473
Income taxes paid, net 6,943 4,578 8,555
Non-cash transactions      
Loans transferred to real estate acquired through foreclosure 1,509 1,386 12,681
Amount transferred from accumulated other comprehensive income to retained earnings related to changes in future income tax rates 0 0 367
Operating right-of-use asset resulting from lease liability 7,152 0 0
First Bank [Member]      
Non-cash transactions      
Common stock issued to acquire First Bank $ 0 $ 22,358 $ 0