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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 8,672 $ 9,731
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net (1,209) (1,242)
Provision for loan and lease losses (855) (2,068)
Derivative Credit Valuation Adjustment 0 (170)
Depreciation, amortization and accretion, net 1,062 956
Share-based compensation 609 531
Increase in bank-owned life insurance policies (349) (350)
Originations of loans for sale (26,531) (13,674)
Sale of SBA loans originated for sale 28,268 16,871
Gain on sale of loans originated for sale (585) (1,078)
Net loss on foreclosed properties 12 3
Excess tax benefit (expense) from share-based compensation 158 (7)
Proceeds from Equity Method Investment, Distribution 147 0
Payments on operating lease liabilities (408) (393)
Payments received on operating leases 45 39
Net increase in accrued interest receivable and other assets 93 (4,979)
Net (decrease) increase in accrued interest payable and other liabilities (7,031) 2,659
Net cash provided by operating activities 2,098 6,829
Investing activities    
Proceeds from maturities, redemptions, and paydowns of available-for-sale securities 9,131 17,222
Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities 2,470 1,580
Purchases of available-for-sale securities (39,760) (9,030)
Proceeds from sale of foreclosed properties 35 0
Net increase in loans and leases (11,653) (86,613)
Payments to Acquire Limited Partnership Interests (362) 0
Returns of investments in limited partnerships 0 60
Distribution from historic development entities 0 49
Investment in low-income housing (649) (1,307)
Investment in Federal Home Loan Bank stock (5,661) (3,614)
Proceeds from the sale of Federal Home Loan Bank stock 6,134 2,250
Purchases of leasehold improvements and equipment, net (60) (89)
Purchases of bank-owned life insurance policies (25) 0
Proceeds from (Repurchase of) Trust Preferred Securities 315 0
Net cash used in investing activities (40,085) (79,492)
Financing activities    
Net increase in deposits 65,771 47,202
Proceeds from Federal Home Loan Bank advances 456,800 290,300
Repayment of Federal Home Loan Bank advances (464,200) (269,000)
Proceeds from Issuance of Subordinated Long-term Debt 20,000 0
Repayment of subordinated notes payable (10,076) 0
Net (decrease) increase in long-term borrowed funds (1,569) 7,954
Cash dividends paid (1,670) (1,541)
Proceeds from issuance of common stock under ESPP 40 39
Proceeds from Issuance of Preferred Stock and Preference Stock 11,992 0
Purchase of treasury stock (608) (326)
Net cash provided by financing activities 76,480 74,628
Net increase (decrease) in cash and cash equivalents 38,493 1,965
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 95,603 58,874
Cash paid during the period for:    
Interest paid on deposits and borrowings 3,164 4,856
Income taxes paid $ 17 $ 32