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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 12,881 $ 12,518
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Provision for credit losses 3,750 202
Accretion of certain acquisition-related discounts, net (444) (927)
Share-based compensation 927 1,008
Depreciation and amortization 1,963 2,222
Amortization of premiums and accretion of discounts on securities, net 600 1,494
(Reversal of) provision for indemnifications (235) (869)
Income from bank-owned life insurance (190) (188)
Pension expense 462 320
Proceeds from sales of loans held for sale 252,170 443,660
Origination of loans held for sale (270,713) (402,568)
Gains on sales of loans held for sale (3,710) (4,893)
Other gains, net 281 (96)
Change in other assets and liabilities:    
Accrued interest receivable (284) (891)
Other assets 325 695
Accrued interest payable 1,455 (55)
Other liabilities (45) (2,236)
Net cash (used in) provided by operating activities (807) 49,396
Investing activities:    
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 44,841 30,981
Purchases of securities available for sale (21,779) (192,741)
Purchases of time deposits, net (252) 493
Repayments on loans held for investment by non-bank affiliates 80,945 92,107
Purchases of loans held for investment by non-bank affiliates (85,471) (160,701)
Net increase in community banking loans held for investment (49,686) (39,372)
Purchases of corporate premises and equipment (610) (1,396)
Proceeds from sales of other real estate owned   915
Changes in collateral posted with other financial institutions, net   3,880
Other investing activities, net (4,037) (1,079)
Net cash used in investing activities (36,049) (266,913)
Financing activities:    
Net (decrease) increase in demand and savings deposits (171,418) 136,696
Net increase (decrease) in time deposits 165,029 (45,293)
Net increase in short-term borrowings 87,588 2,201
Repayments of long-term borrowings (4,000)  
Repurchases of common stock (4,964) (1,843)
Cash dividends paid (3,022) (2,831)
Other financing activities, net (113) (256)
Net cash provided by financing activities 69,100 88,674
Net increase (decrease) in cash and cash equivalents 32,244 (128,843)
Cash and cash equivalents at beginning of period 26,661 267,745
Cash and cash equivalents at end of period 58,905 138,902
Supplemental cash flow disclosures:    
Interest paid 9,274 3,593
Income taxes paid 2,292 3,086
Supplemental disclosure of noncash investing and financing activities:    
Transfers from corporate premises and equipment to other real estate owned   423
Adoption of new accounting standard (Note 1) $ 1,072  
Liabilities assumed to acquire right of use assets under operating leases   838
Transfers from loans held for sale to loans held for investment   $ 1,191