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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 15,229 $ 15,979
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (426) (2,197)
Gain on sales of foreclosed assets held for resale, including writedowns 0 0
Earnings on investment in bank-owned life insurance (690) (710)
Loss (Gain) on equity securities 257 (377)
Restricted stock compensation expense 243 362
Depreciation and amortization 1,834 1,728
Provision for loan losses 0 50
Net amortization of investment securities premiums 1,140 884
(Increase) Decrease in accrued interest receivable (518) 1,040
Decrease in accrued interest payable (56) (727)
Mortgage loans originated for sale (23,470) (75,974)
Proceeds from sales of loans originated for sale 25,644 86,538
Increase in other assets (4,442) (2,699)
Decrease (Increase) in deferred tax expense 1,243 (56)
Increase in other liabilities 426 1,327
Net Cash Provided by Operating Activities 16,414 25,168
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 1,907 2,155
Proceeds from maturities of investment securities available for sale 27,950 51,270
Purchase of investment securities available for sale (204,874) (105,289)
Purchase of investment securities held to maturity (22,204) 0
Redemption of restricted investment in bank stocks 654 53
Net (increase) decrease in loans (41,455) 79,939
Acquisition of insurance agency (7,800) 0
Capital expenditures (720) (253)
Proceeds from sales of premises and equipment 1,093 212
Net Cash (Used in) Provided by Investing Activities (245,449) 28,087
CASH FLOWS FROM FINANCING ACTIVITIES    
Net (decrease) increase in demand deposits (39,461) 63,571
Net (decrease) increase in time certificates of deposits and interest bearing deposits (23,155) 88,939
Net decrease in short-term borrowings (6,243) (8,706)
Proceeds from long-term borrowings 1,500 15,000
Repayments on long-term borrowings (11,550) (14,045)
Dividends paid (4,521) (4,530)
Common stock repurchased (2,905) 0
Common stock issued 853 30
Net Cash (Used in) Provided by Financing Activities (85,482) 140,259
Net (Decrease) Increase in Cash and Cash Equivalents (314,517) 193,514
CASH AND CASH EQUIVALENTS — BEGINNING 710,131 399,352
CASH AND CASH EQUIVALENTS — ENDING 395,614 592,866
Supplemental disclosures of cash flow information    
Interest paid 1,972 4,836
Income taxes paid 2,450 5,000
Non-cash investing activities    
Investments transferred from available for sale to held to maturity $ 39,683 $ 0