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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 ($)
Cash flows from operating activities      
Net income $ 38,990 $ 36,269 $ 27,129
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,984 2,039 2,221
Change in deferred taxes (127) 999 (262)
Provision (credit) for loan losses 1,750 (375) 6,050
Loans originated for resale (21,554) (106,393) (128,375)
Proceeds from sales and transfers of loans 22,520 114,491 125,982
Net gain on sales of loans (406) (3,078) (3,308)
Net gain on sale or call of securities (7) (23) (1,155)
Net amortization of investment premiums 914 2,351 1,944
Net (gain) loss on sale of other real estate owned 1 (91) (170)
Provision for losses on other real estate owned 0 0 45
Equity compensation expense 809 856 652
Net (increase) decrease in other assets and accrued interest (21,443) 18,604 (17,737)
Net increase (decrease) in other liabilities 17,423 (9,332) 9,347
Net gain on disposal of premises and equipment (15) (2) (19)
Amortization of investments in limited partnerships 305 309 311
Net acquisition amortization 69 69 43
Net cash provided by operating activities 41,213 56,693 22,698
Cash flows from investing activities      
(Increase) decrease in interest-bearing deposits in other banks 62,985 (10,527) (44,841)
Proceeds from sales of securities available for sale 1,301 19,240 103,579
Proceeds from maturities, payments, calls of securities available for sale 42,005 104,424 141,598
Proceeds from maturities, payments, calls and sales of securities held to maturity 16,544 80,217 81,809
Proceeds from sales of other real estate owned 50 999 542
Purchases of securities available for sale (62,336) (141,222) (197,207)
Cash paid for limited partnerships 0 0 (717)
Purchases of securities to be held to maturity (40,621) (85,061) (165,658)
Purchase of restricted equity securities 0 0 (1,563)
Redemption of restricted equity securities 1,482 5,180 0
Net increase in loans (267,624) (171,245) (159,080)
Capital expenditures (1,404) (3,757) (2,540)
Proceeds from sale of premises and equipment 38 3 67
Cash paid, net of cash acquired, in branch acquisition 0 0 (6,060)
Net cash used in investing activities (247,580) (201,749) (250,071)
Cash flows from financing activities      
Net increase (decrease) in demand, savings, and money market accounts (45,886) 318,066 262,035
Net increase (decrease) in certificates of deposit 301,466 (39,380) (87,151)
Advances on long-term borrowings 0 0 55,000
Repayment on long-term borrowings (55,007) (7) (10,007)
Net increase (decrease) in short-term borrowings 22,148 (125,689) 32,090
Payment to repurchase common stock (277) (253) (156)
Proceeds from sale of common stock 796 689 670
Dividends paid (14,779) (13,948) (13,329)
Net cash provided by financing activities 208,461 139,478 239,152
Net increase (decrease) in cash and cash equivalents 2,094 (5,578) 11,779
Cash and cash equivalents at beginning of year 20,634 26,212 14,433
Cash and cash equivalents at end of year 22,728 20,634 26,212
Interest paid 16,068 11,141 17,560
Income taxes paid 8,010 6,548 5,049
Non-cash transactions:      
Net transfer from loans to other real estate owned 0 0 1,046
Change in net unrealized gain (loss) on available for sale securities, net of tax (43,000) (6,727) 1,352
Fair value of assets acquired 0 0 (25,328)
Less liabilities assumed 0 0 19,268
Right of use lease asset 737 822 511
Operating lease liability $ (737) $ (822) $ (511)