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CONDENSED 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 $ 11,155 $ 10,993
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 571 562
Accretion and amortization of investment securities premiums and discounts, net 3,545 3,039
Valuation adjustment on mortgage servicing rights (276) 24
(Decrease) increase in deferred loan origination fees and costs, net (2,259) 49
Provision (reversal of provision) for loan losses 900 (1,500)
Stock-based compensation 500 440
Losses on sales/calls of available-for-sale securities 152 221
Amortization of operating lease right-of-use asset 835 781
Gains on sales of loans held-for-sale (145) (1,351)
Proceeds from sales of loans held-for-sale 10,206 58,529
Originations of loans held-for-sale (8,998) (51,914)
Changes in assets and liabilities:    
(Increase) decrease in interest receivable and other assets (2,167) 1,019
Decrease in interest payable and other liabilities (995) (1,587)
Net cash provided by operating activities 13,024 19,305
Cash Flows From Investing Activities    
Proceeds from calls or maturities of available-for-sale securities 11,090 15,190
Proceeds from sales of available-for-sale securities 6,349 21,917
Principal repayments on available-for-sale securities 77,635 68,753
Purchases of available-for-sale securities (143,445) (298,390)
Proceeds from maturities of certificates of deposit 4,416 5,145
Proceeds from sales of certificates of deposit 493 0
Purchases of certificates of deposit (2,728) (1,733)
Net (increase) decrease in loans (117,173) 55,576
Purchases of Federal Home Loan Bank stock and other equity securities, at cost (2,343) (617)
Purchases of premises and equipment (37) (803)
Net cash used in investing activities (165,743) (134,962)
Cash Flows From Financing Activities    
Net increase in deposits 71,303 271,495
Principal payments on Federal Home Loan Bank advances 0 (5,000)
Cash dividends paid in lieu of fractional shares (8) (8)
Repurchases of common stock (102) (2,379)
Net cash provided by financing activities 71,193 264,108
Net (decrease) increase in Cash and Cash Equivalents (81,526) 148,451
Cash and Cash Equivalents, beginning of period 345,929 267,177
Cash and Cash Equivalents, end of period 264,403 415,628
Cash paid during the period for:    
Interest 644 679
Income taxes 3,810 3,270
Supplemental disclosures of non-cash investing and financing activities:    
Stock dividend distributed 6,992 6,636
Unrealized holding losses on available for sale securities, net of taxes (49,096) (5,159)
Transfer of loans held-for-sale to loans held-for-investment 0 1,765
Market value of shares tendered in-lieu of cash to pay for exercise of options 65 32
Recognition of right-of-use assets obtained in exchange for operating lease liabilities $ 869 $ 285