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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Operating activities              
Net income $ 8,337 $ 11,204 $ 17,316 $ 19,876      
Adjustments to reconcile net income to net cash provided by operating activities:              
Deferred income taxes, net     510 (1,695)      
Impairment of tax credit investments     0 (351)      
Provision for credit losses 2,231 (3,727) 3,793 (4,582)      
Depreciation, amortization and accretion, net     1,872 2,025      
Share-based compensation 1,072 645 1,706 1,254      
Gain (Loss) on Disposition of Assets     73 0      
Amortization of tax credit investments     870   $ 0    
Bank-owned life insurance policy income (363) (350) (729) (698)      
Originations of loans for sale     (64,032) (61,278)      
Sale of loans originated for sale     65,393 64,129      
Gain on sale of loans originated for sale     (920) (1,537)      
Net loss on repossessed assets     4 20      
Return on investment in limited partnerships     3,392 314      
Excess tax benefit expense from share-based compensation     128 183      
Payments on operating lease liabilities     (709) (727)      
Net increase in accrued interest receivable and other assets     (9,513) (13,814)      
Net increase in accrued interest payable and other liabilities     3,307 13,658      
Net cash provided by operating activities     22,461 16,777      
Investing activities              
Proceeds from maturities, redemptions, and paydowns of available-for-sale securities     10,047 20,185      
Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities     2,797 5,761      
Proceeds from sale of available-for-sale securities     5,084 0      
Purchases of available-for-sale securities     (57,281) (43,231)      
Proceeds from sale of foreclosed properties     25 37      
Net increase in loans and leases     (231,661) (46,359)      
Investments in limited partnerships     (700) (363)      
Returns of investments in limited partnerships     4 0      
Investment in tax credit investments     (9,598) (5,937)      
Distribution from historic development entities     33 282      
Investment in Federal Home Loan Bank stock     (24,375) (23,370)      
Proceeds from the sale of Federal Home Loan Bank stock     27,705 13,746      
Purchases of leasehold improvements and equipment, net     (1,255) (469)      
Purchases of bank-owned life insurance policies     0 (25)      
Proceeds from (Repurchase of) Trust Preferred Securities     0 315      
Net cash used in investing activities     (279,175) (79,428)      
Financing activities              
Net increase (decrease) in deposits     360,646 (88,592)      
Repayment of Federal Home Loan Bank advances     (1,228,050) (1,228,543)      
Proceeds from Federal Home Loan Bank advances     1,147,375 1,413,844      
Proceeds from Issuance of Subordinated Long-term Debt     0 20,000      
Repayment of subordinated notes payable     0 (9,090)      
Repayments of Other Long-term Debt     0 10,076      
Net decrease in long-term borrowed funds     (6,020) (3,020)      
Cash dividends paid     (3,795) (3,348)      
Preferred stock dividend     (438) (246)      
Proceeds from issuance of common stock under ESPP     55 75      
Proceeds from issuance of preferred stock     0 11,992   $ 12,000  
Purchase of treasury stock     (2,932) (1,971)      
Net cash provided by financing activities     266,841 101,025      
Net increase in cash and cash equivalents     10,127 38,374      
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 112,809 $ 95,484 112,809 95,484   $ 102,682 $ 57,110
Cash paid during the period for:              
Interest paid on deposits and borrowings     30,478 5,707      
Income taxes paid     1,192 (31)      
Transfer of loans to repossessed assets     $ 0 $ 17