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Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Operating activities      
Net income $ 40,858 $ 35,755 $ 16,978
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income taxes, net (775) 1,223 (2,007)
Impairment of Tax Credit Investments (351) 0 2,395
Provision for loan and lease losses (3,868) (5,803) 16,808
Depreciation, amortization and accretion, net 4,066 3,554 3,465
Share-based compensation 2,584 2,513 1,871
Net loss on disposal of fixed assets 0 78 0
Net (gain) loss on sale of securities 0 (29) 4
Amortization of tax credit investments 1,035 0 0
Gain on sale of tax credits 0 0 (275)
Bank-owned life insurance policy income (2,227) (1,413) (1,402)
Origination of loans held-for-sale (124,915) (99,266) (81,609)
Sale of SBA loans originated for sale 128,391 108,435 81,018
Gain on sale of loans originated for sale (2,537) (4,044) (2,899)
Net loss on foreclosed properties, including impairment valuation (429) 15 383
Return on investment in limited partnerships 721 371 0
Excess Tax Benefit (Expense) from Share-Based Compensation, Operating Activities 264 48 (32)
Payments on operating lease liabilities (1,470) (1,431) (1,444)
Net increase in accrued interest receivable and other assets (7,728) (6,745) (11,131)
Net increase in accrued interest payable and other liabilities 5,026 2,731 4,512
Net cash provided by operating activities 38,645 35,992 26,635
Investing activities      
Proceeds from maturities, redemptions and paydowns of available-for-sale securities 40,835 51,166 58,290
Proceeds from maturities, redemptions and paydowns of held-to-maturity securities 7,080 6,586 6,268
Proceeds from sale of available-for-sale securities 0 14,955 839
Purchases of available-for-sale securities (75,740) (93,019) (66,879)
Proceeds from sale of repossessed assets 71 0 2,582
Net increase in loans and leases (199,467) (86,660) (439,223)
Investments in limited partnerships (1,508) (1,059) (1,986)
Returns of investments in limited partnerships 17 32 211
Investment in tax credit investments (11,454) (2,964) (3,254)
Distribution from historic development entities 474 57 30
Proceeds from sale of tax credits 0 0 2,529
Investment in Federal Home Loan Bank and Federal Reserve Bank Stock (45,660) (7,439) (20,509)
Proceeds from the sale of Federal Home Loan Bank Stock 41,184 7,680 14,884
Purchases of leasehold improvements and equipment, net (3,223) (391) (264)
Proceeds from sale of leasehold improvements and equipment, net 0 44 0
Purchases of bank owned life insurance policies 0 0 (8,000)
Premium payment on bank owned life insurance policies (50) 0 (25)
Proceeds from Life Insurance Policy 1,859 0 0
Proceeds from redemption of Trust II stock 315 0 0
Net cash used in investing activities (245,267) (111,012) (454,507)
Financing activities      
Net increase in deposits 210,283 102,407 325,137
Repayment of Federal Home Loan Bank advances (2,374,849) (814,000) (1,219,944)
Proceeds from Federal Home Loan Bank advances 2,422,429 788,300 1,318,700
Loss on early extinguishment of debt 0 0 744
Proceeds from issuance of subordinated notes payable 20,000 0 0
Repayment of subordinated notes payable (9,090) 0 0
Repayments of Other Long-Term Debt (10,076) 0 0
Repayment of the Federal Reserve Paycheck Protection Program Lending Facility 0 0 (29,605)
Proceeds from the Federal Paycheck Protection Program Lending Facility, Investing Activities 0 0 29,605
Net (decrease) increase in long-term borrowed funds (5,132) 9,998 300
Cash dividends paid (6,688) (6,166) (5,652)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock (683) 0 0
Proceeds from issuance of common stock under the Employee Stock Purchase Plan 134 160 66
Proceeds from Issuance of Preferred Stock and Preference Stock 11,992 0 0
Purchase of treasury stock (6,126) (5,478) (1,672)
Net cash provided by financing activities 252,194 75,221 417,679
Net decrease in cash and cash equivalents 45,572 201 (10,193)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents 102,682 57,110 56,909
Supplementary cash flow information      
Interest paid on deposits and borrowings 20,110 13,206 18,412
Income Taxes Paid 8,038 14,519 3,451
Transfer of loans to foreclosed properties 50 146 80
Lease liability in exchange for right-of-use-asset $ 6,265 $ 316 $ 190