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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net income $ 10,407 $ 12,021
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities:    
Depreciation and amortization of premises and equipment 1,576 1,585
Amortization of software 576 587
Intangible asset amortization 7 12
Amortization of investment security premium, net of discount accretion 255 347
Unrealized loss on marketable equity securities 457 1,232
Stock-based compensation 365 377
Deferred loan fees and amortization, net of costs (676) (3,247)
Provision for credit losses 1,767 313
Additions to home mortgage servicing rights carried at fair value (982) (2,115)
Change in fair value of home mortgage servicing rights carried at fair value 1,369 (462)
Change in fair value of commercial servicing rights carried at fair value 105 48
Gain on sale of loans (3,875) (8,569)
Proceeds from the sale of loans held for sale 135,203 353,737
Origination of loans held for sale (164,549) (334,598)
Proceeds from keyman life insurance 0 (2,002)
Net changes in assets and liabilities:    
(Increase) in accrued interest receivable (595) (1,271)
Decrease in other assets 739 3,324
(Decrease) in other liabilities (4,668) (6,010)
Net Cash (Used) Provided by Operating Activities (22,519) 15,309
Investment in securities:    
Purchases of investment securities available for sale (6,000) (214,703)
Purchases of marketable equity securities (324) (1,937)
Purchases of FHLB stock (2,715) (727)
Purchases of investment securities held to maturity 0 (9,750)
Proceeds from sales/calls/maturities of securities available for sale 15,340 5,000
Proceeds from redemption of FHLB stock 673 10
(Increase) in purchased receivables, net (1,872) (8,290)
(Increase) decrease in loans, net (157,013)  
(Increase) decrease in loans, net   11,116
Proceeds from keyman life insurance 0 2,002
Purchases of software (90) (14)
Purchases of premises and equipment (3,328) (1,527)
Net Cash (Used) by Investing Activities (155,329) (218,820)
Financing Activities:    
(Decrease) in deposits (84,900) (86,241)
Increase in borrowings 50,792  
(Decrease) in borrowings   (206)
Repurchase of common stock (3,828) (14,157)
Cash dividends paid (6,814) (4,789)
Net Cash Used by Financing Activities (44,750) (105,393)
Net Change in Cash and Cash Equivalents (222,598) (308,904)
Cash and Cash Equivalents at Beginning of Period 259,350 645,827
Cash and Cash Equivalents at End of Period 36,752 336,923
Supplemental Information:    
Income taxes paid 856 40
Interest paid 11,081 1,471
Transfer of loans to other real estate owned 273 0
Non-cash lease liability arising from obtaining right of use assets 423 0
Cash dividends declared but not paid $ 62 $ 46