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CONSOLIDATED STATEMENT OF CASH FLOWS
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (4,144) $ 12,299 $ 2,723
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses   2,787 4,853
Depreciation and amortization   958 530
Amortization and accretion of loans and other assets   (2,243) (825)
Amortization and accretion of investment securities   759 826
Deferred income taxes   425 125
Investment securities losses, net   33 343
Earnings on bank owned life insurance (234) (996) (452)
Vesting of restricted stock   168 150
Originations of loans held for sale   (74,816) (12,730)
Proceeds from sales of loans held for sale   70,820 9,444
Realized gains on loans sold (169) (896) (214)
Realized gains on sale of Braavo 0 (1,102) 0
Decrease in accrued interest receivable   261 275
Gain on sale of foreclosed assets held for sale   (119) (67)
Increase in accrued interest payable   1,184 139
Other, net   6,956 (2,219)
Net cash provided by operating activities   16,478 2,901
Available-for-sale securities:      
Proceeds from sales 86,504 0 86,504
Proceeds from maturity and principal repayments   27,061 10,336
Purchase of securities   (14,045) (10,246)
Proceeds from sale of equity securities   335 67
Purchase of interest bearing time deposits with other banks   (100) 0
Proceeds from matured interest bearing time deposits with other banks   350 1,241
Proceeds from life insurance   1,147 0
Proceeds from redemption of regulatory stock   15,665 10,839
Purchase of regulatory stock   (14,135) (12,789)
Net (increase) decrease in loans   (13,486) 40,119
Purchase of premises and equipment   (226) (1,926)
Investments in low income housing partnerships   0 (591)
Proceeds from sale of foreclosed assets held for sale   392 233
Proceeds from sale of Braavo assets   7,185 0
Acquisition, net of cash paid   0 4,905
Net cash provided by investing activities   10,143 128,692
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net decrease in deposits   (48,385) (111,473)
Proceeds from long-term borrowings   0 20,000
Repayments of long-term borrowings   (5,000) 0
Net increase (decrease) in short-term borrowed funds   17,099 (17,731)
Purchase of treasury and restricted stock   (81) 0
Dividends paid   (4,639) (3,891)
Net cash used by financing activities   (41,006) (113,095)
Net (decrease) increase in cash and cash equivalents   (14,385) 18,498
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD   52,818 26,211
CASH AND CASH EQUIVALENTS AT END OF PERIOD 44,709 38,433 44,709
Supplemental Disclosures of Cash Flow Information:      
Interest paid   32,393 14,892
Income taxes paid   750 3,600
Loans transferred to foreclosed property   2,490 49
Right of use asset and liability   169 5
Stock Dividend   2,047 3,021
CECL adjustment   0 3,300
Non-cash assets acquired      
Goodwill   $ 85,758 [1]  
HV Bancorp, Inc. [Member]      
Non-cash assets acquired      
Available-for-sale securities 79,248   79,248
Interest bearing time deposits with other banks 0   0
Loans held for sale 10,750   10,750
Loans 475,338   475,338
Premises and equipment 2,310   2,310
Accrued interest receivable 2,226   2,226
Bank owned life insurance 10,387   10,387
Intangibles 2,972   2,972
Deferred tax asset 8,392   8,392
Other assets 18,213   18,213
Goodwill 53,382   53,382
Total non-cash assets acquired 663,218   663,218
Liabilities assumed      
Noninterest-bearing deposits 197,549   197,549
Interest-bearing deposits 335,816   335,816
Accrued interest payable 885   885
Borrowed funds 58,647   58,647
Other liabilities 11,674   11,674
Total liabilities assumed 604,571   604,571
Net non-cash assets acquired 58,647   58,647
Cash and cash equivalents acquired $ 18,017   $ 18,017
[1] Excludes fully amortized intangible assets