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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 7,579 $ 9,630
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 703 663
Amortization of right-of-use lease asset 124 146
Amortization of deferred loan fees, net 150 949
Amortization of intangibles 29 96
Amortization of low income housing partnerships 121 121
Provision for credit losses 1,264 300
Net unrealized loss (gain) on equity investment securities 29 (4)
Net gain on sale of other real estate owned   (458)
Loans originated for sale (1,244) (3,798)
Proceeds from sale of loans originated for sale 1,245 4,069
Net gain on sale of loans originated for sale (1) (24)
Net amortization of investment securities 290 431
Net loss (gain) on sale of investment securities available-for-sale (81)  
Gain on sale of premises and equipment (14) (5)
Increase in cash surrender value of life insurance (258) (218)
Deferred income tax expense 183 4
Stock based compensation 209 (28)
Net change in:    
Accrued interest receivable 37 (693)
Other assets (3,019) (3,869)
Accrued interest payable 1,401 436
Other liabilities (4,198) 1,388
Net cash provided by operating activities 4,549 9,136
Cash flows from investing activities:    
Proceeds from sales of investment securities available-for-sale 67,362  
Proceeds from repayments of investment securities:    
Available-for-sale 2,791 12,897
Held-to-maturity 1,446 1,207
Purchases of investment securities:    
Available-for-sale   (64,051)
Held-to-maturity   (25,873)
Net redemption of restricted equity securities 4,743 1,352
Net increase in loans (88,086) (69,733)
Investment in bank owned life insurance   (1,081)
Purchases of premises and equipment (2,506) (1,284)
Proceeds from the sale of premises and equipment 14 5
Proceeds from bank owned life insurance   225
Proceeds from sale of other real estate owned   946
Net cash used in investing activities (14,236) (145,390)
Cash flows from financing activities:    
Net increase in deposits 189,369 1,467
Proceeds from long-term debt 25,000  
Repayment of long-term debt (555) (529)
Net decrease in short-term borrowings (97,650)  
Retirement of common stock (826) (318)
Cash dividends paid (2,936) (2,796)
Net cash provided (used) by financing activities 112,402 (2,176)
Net increase (decrease) in cash and cash equivalents 102,715 (138,430)
Cash and cash equivalents at beginning of period 37,868 279,933
Cash and cash equivalents at end of period 140,583 141,503
Cash paid during the period for:    
Interest 9,833 1,504
Income taxes 47 $ 35
Noncash items:    
Initial recognition of right-of-use assets (785)  
Initial recognition of lease liability $ (820)