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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income $ 11,782 $ 9,515
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses for loans 1,742 1,961
Depreciation and amortization of premises and equipment 921 1,108
(Accretion) amortization of premiums (discounts) on investments, net (523) 100
Amortization of intangible assets 234 357
Accretion on acquired loans (193) (866)
Equity-based compensation expense 120 172
Issuance of common stock to 401(k) plan 8 185
(Gain) loss on sale of premises and equipment, net (2) (392)
Loss (gain) on sale of other real estate owned 51 (5)
Gain on sale of securities (7) 0
Decrease (increase) in accrued interest receivable 633 (200)
Decrease (increase) in other operating activities 1,061 (1,497)
Net cash provided by operating activities 15,827 10,438
Investing activities    
Proceeds from sale of securities available for sale 17,007 0
Proceeds from maturities, prepayments, and calls of securities available for sale 10,618 4,763
Payments to acquire securities available for sale (31,859) (203,170)
Net decrease (increase) in loans 9,695 (78,716)
Purchase of FHLB stock, net (3,829) (238)
Proceeds from bank owned life insurance 3,717 0
Proceeds from sale of premises and equipment 4 796
Payments to acquire premises and equipment (1,012) (175)
Proceeds from sale of other real estate owned 228 189
Net cash provided (used) by investing activities 4,569 (276,551)
Financing activities    
(Decrease) increase in noninterest-bearing deposits, net (48,871) 17,869
(Decrease) increase in interest-bearing deposits, net (45,320) 35,684
(Repayments) proceeds from securities sold under agreements to repurchase, net (8) 952
Proceeds from stock options exercised 48 103
Payments for repurchase of common stock 0 (4,087)
Payments of common dividends (4,706) (4,541)
Net cash (used) provided by financing activities (98,857) 45,980
Net (decrease) increase in cash and cash equivalents (78,461) (220,133)
Cash and cash equivalents at beginning of period 170,846 677,439
Cash and cash equivalents at end of period 92,385 457,306
Supplemental disclosure -- cash flow information    
Cash paid for interest 726 889
Cash paid for income taxes 0 0
Supplemental transactions -- noncash items    
Transfer of loans to other real estate owned 57 17
Increase in accumulated other comprehensive income (loss), net of taxes $ 2,494 $ (4,966)