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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 6,497 $ 5,735
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 2,050 (328)
Accretion of certain acquisition-related discounts, net (228) (362)
Share-based compensation 474 511
Depreciation and amortization 988 1,135
Amortization of premiums and accretion of discounts on securities, net 281 811
(Reversal of) provision for indemnifications   (583)
Income from bank-owned life insurance (83) (77)
Pension expense 236 177
Proceeds from sales of loans held for sale 105,023 227,612
Origination of loans held for sale (115,734) (189,976)
Gains on sales of loans held for sale (1,794) (2,695)
Other gains, net 328 (102)
Change in other assets and liabilities:    
Accrued interest receivable 126 (143)
Other assets 2,317 1,052
Accrued interest payable 662 (281)
Other liabilities (978) (1,289)
Net cash provided by operating activities 165 41,197
Investing activities:    
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 19,729 14,629
Purchases of securities available for sale (14,364) (76,494)
Purchases of time deposits, net (744) (247)
Repayments on loans held for investment by non-bank affiliates 39,057 44,274
Purchases of loans held for investment by non-bank affiliates (41,904) (72,818)
Net increase in community banking loans held for investment (36,068) (2,320)
Purchases of corporate premises and equipment (515) (1,203)
Proceeds from sales of corporate premises and equipment 29  
Changes in collateral posted with other financial institutions, net   3,880
Other investing activities, net (4,714) (186)
Net cash used in investing activities (39,494) (90,485)
Financing activities:    
Net (decrease) increase in demand and savings deposits (122,178) 79,999
Net increase (decrease) in time deposits 114,116 (24,952)
Net increase (decrease) in short-term borrowings 108,987 (2,301)
Repurchases of common stock (2,455) (723)
Cash dividends paid (1,521) (1,420)
Other financing activities, net (61) (122)
Net cash provided by financing activities 96,888 50,481
Net increase in cash and cash equivalents 57,559 1,193
Cash and cash equivalents at beginning of period 26,661 267,745
Cash and cash equivalents at end of period 84,220 268,938
Supplemental cash flow disclosures:    
Interest paid 3,683 2,047
Supplemental disclosure of noncash investing and financing activities:    
Adoption of new accounting standard (Note 2) $ 1,072  
Liabilities assumed to acquire right of use assets under operating leases   $ 838