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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Cash flows from operating activities:    
Net income $ 23,750 $ 28,951
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 2,051 2,051
Amortization of right-of-use lease asset 454 443
Amortization of deferred loan fees, net 493 1,314
Amortization of intangibles 86 289
Amortization of low income housing partnerships 310 362
(Credit to) provision for credit losses (1,103) 1,700
Net unrealized loss on equity investment securities 17 37
Net gain on sale of other real estate owned (18) (478)
Loans originated for sale (3,511) (6,139)
Proceeds from sale of loans originated for sale 3,499 5,937
Net loss (gain) on sale of loans originated for sale 12 (43)
Net amortization of investment securities 774 1,146
Net gain on sale of investment securities available-for-sale (81)  
Loss on sale of premises and equipment 3  
Increase in cash surrender value of life insurance (790) (731)
Deferred income tax expense 983  
Stock compensation, including tax effects and expenses 628 311
Net change in:    
Accrued interest receivable (1,054) (1,555)
Other assets (3,581) (1,911)
Accrued interest payable 3,874 721
Other liabilities (2,489) (2,180)
Net cash provided by operating activities 24,307 30,225
Cash flows from investing activities:    
Proceeds from sales of investment securities available-for-sale 67,363  
Proceeds from repayments of investment securities:    
Available-for-sale 22,740 35,314
Held-to-maturity 4,845 4,188
Purchases of investment securities:    
Available-for-sale   (69,392)
Held-to-maturity   (25,872)
Net redemption (purchase of) of restricted equity securities 3,966 (457)
Net increase in loans (141,422) (296,108)
Investment in bank owned life insurance   (5,881)
Purchases of premises and equipment (5,697) (5,386)
Proceeds from the sale of premises and equipment 14  
Proceeds from bank owned life insurance   1,132
Proceeds from sale of other real estate owned 139 967
Net cash used in investing activities (48,052) (361,495)
Cash flows from financing activities:    
Net increase in deposits 318,485 160,743
Proceeds from long-term debt 25,000  
Repayment of long-term debt (555) (1,607)
Net (decrease) increase in short-term borrowings (87,910) 14,700
Retirement of common stock (5,836) (1,026)
Cash dividends paid (8,772) (8,463)
Net cash provided by financing activities 240,412 164,347
Net increase (decrease) in cash and cash equivalents 216,667 (166,923)
Cash and cash equivalents at beginning of period 37,868 279,933
Cash and cash equivalents at end of period 254,535 113,010
Supplemental disclosures:    
Interest 39,420 7,636
Income taxes 3,072 $ 7,395
Noncash items:    
Initial recognition of right-of-use assets 3,878  
Initial recognition of lease liability $ 3,878