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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES:    
Net income $ 19,987,000 $ 18,559,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 885,000 1,009,000
Net amortization of purchase premiums and discounts on securities (29,000) 44,000
Depreciation and amortization 659,000 1,412,000
PPP deferred fees and costs (73,000) (1,120,000)
Deferred income tax benefit (301,000) (1,118,000)
Net realized security gains (222,000)  
Stock compensation expense 840,000 833,000
Gain on sale of mortgage loans, net (707,000) (952,000)
Gain on sale of SBA loans held for sale, net (896,000) (852,000)
BOLI income (164,000) (324,000)
Net change in other assets and liabilities (11,309,000) (5,651,000)
Net cash provided by operating activities 8,670,000 11,840,000
INVESTING ACTIVITIES    
Purchases of securities held to maturity   (26,748,000)
Purchases of equity securities (168,000) (1,539,000)
Purchases of securities available for sale   (44,904,000)
Purchases of FHLB stock, at cost (2,365,000) (10,407,000)
Maturities and principal payments on securities held to maturity 101,000 4,244,000
Maturities, calls and principal payments on securities available for sale 2,103,000 2,752,000
Proceeds from sales of equity securities 1,269,000  
Proceeds from redemption of FHLB stock   4,734,000
Net increase (decrease) in SBA PPP loans 3,425,000 33,356,000
Net increase in loans (63,046,000) (172,173,000)
Proceeds from BOLI   468,000
Purchases of premises and equipment (580,000) (97,000)
Net cash used in investing activities (59,261,000) (210,314,000)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits 62,000,000 (60,913,000)
Net changes from borrowings   125,000,000
Proceeds from borrowings 40,000,000  
Proceeds from exercise of stock options 998,885 953,537
Fair market value of shares withheld to cover employee tax liability (226,000) (220,000)
Dividends on common stock (2,381,000) (2,122,000)
Purchase of treasury stock (13,360,000)  
Net cash provided by financing activities 87,032,000 62,699,000
Increase (decrease) in cash and cash equivalents 36,441,000 (135,775,000)
Cash and cash equivalents, beginning of year 114,793,000 244,818,000
Cash and cash equivalents, end of period 151,234,000 109,043,000
SUPPLEMENTAL DISCLOSURES    
Interest paid 21,289,000 2,531,000
Income taxes paid 3,557,000 4,687,000
Noncash investing activities:    
Establishment of lease liability and right-of-use asset   582,000
Capitalization of servicing rights 429,000 $ 131,000
Transfer of loans to OREO $ 251,000