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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 25,553 $ 23,339
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of loans originated for sale (468) (2,497)
Gain on sales of foreclosed assets held for resale, including writedowns 0 (88)
Earnings on investment in bank-owned life insurance (1,052) (1,066)
Loss (Gain) on equity securities 345 (377)
Restricted stock compensation expense 243 362
Depreciation and amortization 2,788 2,582
Provision for loan losses 0 50
Net amortization of investment securities premiums 988 1,458
(Increase) Decrease in accrued interest receivable (902) 1,204
Decrease in accrued interest payable (57) (1,017)
Mortgage loans originated for sale (30,365) (89,285)
Proceeds from sales of loans originated for sale 33,026 98,881
Increase in other assets (3,348) (1,457)
Decrease in deferred tax expense 1,062 221
Increase in other liabilities 1,660 1,505
Net Cash Provided by Operating Activities 29,473 33,815
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of investment securities held to maturity 2,505 3,074
Proceeds from maturities of investment securities available for sale 41,852 81,260
Purchase of investment securities available for sale (218,195) (163,874)
Purchase of investment securities held to maturity (22,204) 0
Purchase of equity securities (35) 0
Redemption of restricted investment in bank stocks 650 574
Net (increase) decrease in loans (60,256) 149,662
Purchase of bank-owned life insurance (12,200) 0
Acquisition of insurance agency (7,800) 0
Capital expenditures (1,206) (530)
Proceeds from sales of premises and equipment 1,093 213
Proceeds from sales of foreclosed real estate 0 189
Net Cash (Used in) Provided by Investing Activities (275,796) 70,568
CASH FLOWS FROM FINANCING ACTIVITIES    
Net (decrease) increase in demand deposits (33,945) 54,099
Net (decrease) increase in time certificates of deposits and interest bearing deposits (56,231) 177,937
Net decrease in short-term borrowings 6,439 6,141
Proceeds from long-term borrowings 1,500 15,000
Repayments on long-term borrowings (12,150) (27,045)
Dividends paid (6,734) (6,710)
Common stock repurchased (6,682) (420)
Common stock issued 1,021 45
Net Cash (Used in) Provided by Financing Activities (106,782) 219,047
Net (Decrease) Increase in Cash and Cash Equivalents (353,105) 323,430
CASH AND CASH EQUIVALENTS — BEGINNING 710,131 399,352
CASH AND CASH EQUIVALENTS — ENDING 357,026 722,782
Supplemental disclosures of cash flow information    
Interest paid 2,834 6,608
Income taxes paid 4,400 6,200
Loans transferred to foreclosed assets held for resale and other foreclosed transactions 474 101
Non-cash investing activities    
Investments transferred from available for sale to held to maturity 39,683 0
Premises and equipment transferred to fixed assets held for sale $ 3,393 $ 0