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Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Operating activities      
Net income $ 37,027 $ 40,858 $ 35,755
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income taxes, net 2,120 (775) 1,223
Impairment of Tax Credit Investments 0 (351) 0
Provision for credit losses 8,182 (3,868) (5,803)
Depreciation, amortization and accretion, net 3,636 4,066 3,554
Share-based compensation 2,977 2,584 2,513
Net loss on disposal of fixed assets 73 0 78
Amortization of tax credit investments 4,053 1,035 0
Bank-owned life insurance policy income (1,494) (2,227) (1,413)
Origination of loans held-for-sale (149,669) (124,915) (99,266)
Sale of loans originated for sale 149,767 128,391 108,435
Gain on sale of loans originated for sale (2,055) (2,537) (4,044)
Net loss (gain) on repossessed assets 13 (429) 15
Return on investment in limited partnerships 4,922 721 371
Excess tax benefit from share-based compensation 194 264 48
Net payments on operating lease liabilities (1,425) (1,470) (1,431)
Net increase in accrued interest receivable and other assets (21,497) (7,728) (6,774)
Net increase in accrued interest payable and other liabilities 15,468 5,026 2,731
Net cash provided by operating activities 52,292 38,645 35,992
Investing activities      
Proceeds from maturities, redemptions and paydowns of available-for-sale securities 22,114 40,835 51,166
Proceeds from maturities, redemptions and paydowns of held-to-maturity securities 4,115 7,080 6,586
Proceeds from sale of available-for-sale securities 5,085 0 14,955
Purchases of available-for-sale securities (106,967) (75,740) (93,019)
Proceeds from sale of repossessed assets 25 71 0
Net increase in loans and leases (408,618) (199,467) (86,660)
Investments in limited partnerships (1,413) (1,508) (1,059)
Returns of investments in limited partnerships 7 17 32
Investment in tax credit investments (24,160) (11,454) (2,964)
Distribution from tax credit investments 101 474 57
Investment in Federal Home Loan Bank and Federal Reserve Bank Stock (32,069) (45,660) (7,439)
Proceeds from the sale of Federal Home Loan Bank Stock 37,839 41,184 7,680
Purchases of leasehold improvements and equipment, net (2,884) (3,223) (391)
Proceeds from sale of leasehold improvements and equipment, net 0 0 44
Premium payment on bank owned life insurance policies (24) (50) 0
Proceeds from Life Insurance Policy 0 1,859 0
Proceeds from redemption of Trust II stock 0 315 0
Net cash used in investing activities (506,849) (245,267) (111,012)
Financing activities      
Net increase in deposits 628,573 210,283 102,407
Repayment of Federal Home Loan Bank advances (1,698,730) (2,374,849) (814,000)
Proceeds from Federal Home Loan Bank advances 1,563,851 2,422,429 788,300
Proceeds from issuance of subordinated notes payable 15,000 20,000 0
Repayment of subordinated notes payable 0 (9,090) 0
Repayment of junior subordinated debt 0 (10,076) 0
Net (decrease) increase in long-term borrowed funds (6,013) (5,132) 9,998
Cash dividends paid (7,578) (6,688) (6,166)
Preferred stock dividends paid (875) (683) 0
Proceeds from issuance of common stock under the Employee Stock Purchase Plan 128 134 160
Proceeds from Issuance of Preferred Stock and Preference Stock 0 11,992 0
Purchase of treasury stock (2,971) (6,126) (5,478)
Net cash provided by financing activities 491,385 252,194 75,221
Net decrease in cash and cash equivalents 36,828 45,572 201
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents 139,510 102,682 57,110
Supplementary cash flow information      
Interest paid on deposits and borrowings 75,533 20,110 13,206
Income Taxes Paid 7,456 8,038 14,519
Transfer of loans to foreclosed properties 190 50 146
Lease liability in exchange for right-of-use-asset $ 0 $ 6,265 $ 316