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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 $ 29,793 $ 26,723
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,495 1,540
Change in deferred taxes 19 483
Provision for loan losses 1,300 1,575
Loans originated for resale (20,152) (89,166)
Proceeds from sales and transfers of loans 21,372 96,227
Net gain on sales of loans (385) (2,643)
Net gain on sale or call of securities (7) (22)
Net amortization of premiums on investments 763 1,801
Net (gain) loss on sale of other real estate owned 1 (91)
Equity compensation expense 610 672
Net (increase) decrease in other assets and accrued interest (11,362) 14,364
Net increase (decrease) in other liabilities 8,720 (6,522)
Net (gain) loss on disposal of premises and equipment (15) 2
Amortization of investment in limited partnership 229 232
Net acquisition amortization 52 52
     Net cash provided by operating activities 32,433 45,227
Cash flows from investing activities    
(Increase) decrease in interest-bearing deposits in other banks 892 (37,628)
Proceeds from sales of securities available for sale 1,301 19,435
Proceeds from maturities, payments and calls of securities available for sale 35,633 85,989
Proceeds from maturities, payments, calls and sales of securities to be held to maturity 15,073 70,217
Proceeds from sales of other real estate owned 50 999
Purchases of securities available for sale (58,324) (109,835)
Purchases of securities to be held to maturity (27,138) (80,610)
Redemption of restricted equity securities 851 1,706
Net increase in loans (210,811) (140,772)
Capital expenditures (1,165) (3,412)
Proceeds from disposal of premises and equipment 38 0
     Net cash used by investing activities (243,600) (193,911)
Cash flows from financing activities    
Net increase in demand, savings, and money market accounts 26,681 279,620
Net increase (decrease) in certificates of deposit 219,971 (91,018)
Net increase (decrease) in short-term borrowings 37,006 (28,831)
Repayment on long-term borrowings (55,005) (6)
Payment to repurchase common stock (276) (253)
Proceeds from sale of common stock 588 514
Dividends paid (11,024) (10,428)
Net cash provided by financing activities 217,941 149,598
Net increase in cash and cash equivalents 6,774 914
Cash and cash equivalents at beginning of period 20,634 26,212
     Cash and cash equivalents at end of period 27,408 27,126
Interest paid 9,061 8,887
Income taxes paid 5,745 4,573
Non-cash transactions    
Change in net unrealized loss on available for sale securities, net of tax $ 45,943 $ 5,636