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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income $ 22,438 $ 24,196 $ 20,168
Adjustments to reconcile net income to net cash from operating activities      
Depreciation 2,065 2,046 1,722
Provision for loan losses 3,450 1,250 2,315
Amortization (accretion), net 2,459 7 1,295
Writedowns (gains) on other real estate owned, net 589 978 (450)
Stock compensation expense 280 301 252
Changes in:      
Interest receivable (1,292) (59) 300
Deferred income taxes 472 512 33
Other assets (788) 287 1,404
Interest payable (552) 54 157
Other liabilities (913) (341) (62)
Net cash from operating activities 28,208 29,231 27,134
Cash flows from investing activities      
Net change on time deposits with other banks 0 1,094 1,488
Purchases of securities available for sale (184,265) (66,684) (110,869)
Proceeds from maturities, sales and calls of securities available for sale 158,382 95,014 65,181
Purchase of FHLB stock 0 (10) 0
Redemption of FHLB stock 284 273 792
Acquisition of subsidiary, net of cash acquired (paid) 0 (4,863) 2,591
Net change in loans (24,240) (5,241) 13,431
Purchases of premises and equipment, net (525) (1,589) (3,460)
Proceeds from sales of other real estate owned 1,416 2,348 7,778
Net cash from (used in) investing activities (48,948) 20,342 (23,068)
Cash flows from financing activities      
Net change in deposits 137,929 (20,118) 25,280
Net change in agreements to repurchase securities 13,399 (1,634) (1,609)
Repayment of other borrowed funds 0 (2,500) (2,500)
Repayment of other FHLB advances (6,400) (2,500) (19,500)
Proceeds from stock option exercises 35 246 193
Cash in lieu of fractional shares 0 0 (13)
Common stock dividends paid (8,803) (8,786) (7,805)
Net cash from (used in) financing activities 136,160 (35,292) (5,954)
Net change in cash and cash equivalents 115,420 14,281 (1,888)
Cash and cash equivalents at beginning of year 95,056 80,775 82,663
Cash and cash equivalents at end of year 210,476 95,056 80,775
Cash paid during year for -      
Interest 7,365 9,623 5,911
Income taxes paid, net 6,245 6,943 4,578
Non-cash transactions      
Loans transferred to real estate acquired through foreclosure 2,978 1,509 1,386
Common stock issued to acquire First Bank 0 0 22,358
Operating right-of-use asset resulting from lease liability $ (431) $ 7,152 $ 0