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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 19,404 $ 11,195
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 2,140 6,400
Depreciation 533 516
Stock compensation expense 1,827 1,464
Gain on loans held for sale (88) 384
Net amortization (accretion):    
Securities 426 613
Loans (747) (1,034)
Right of use asset 354 415
Software 911 749
Changes in other assets and liabilities:    
Accrued interest receivable (1,031) 67
Other assets 1,619 (543)
Operating lease liability (424) (405)
Accrued expenses and other liabilities 5,435 2,868
Net cash provided by operating activities 30,359 22,689
Cash flows from investing activities:    
Net change in loans (90,181) (94,358)
Net change in securities purchased under agreements to resell 46 827
Purchases of securities available-for-sale (1,739) (70,478)
Purchases of securities held-to-maturity (84,092)  
Principal repayments on securities available-for-sale 17,602 43,614
Principal repayments on securities held-to-maturity 3,911  
Redemption (purchase) of securities, restricted (130) 14
Payments on loans held for sale 600  
Purchases of premises and equipment (51) (942)
Development of capitalized software (1,067) (1,325)
Net cash used in investing activities (155,101) (122,648)
Cash flows from financing activities:    
Net increase in deposits 159,048 172,989
Decrease in borrowings (1) (1)
Exercise of stock options 178 21
Tax withholding payments for vested equity awards (59)  
Cash dividends paid to common stockholders 1,455  
Net cash provided by financing activities 157,711 173,009
(Decrease) increase in cash and cash equivalents 32,969 73,050
Cash and cash equivalents at beginning of the period 149,156 65,185
Cash and cash equivalents at end of the period 182,125 138,235
Cash paid during the period for:    
Interest 924 597
Taxes 5,879 5,854
Noncash transactions:    
Contribution of loans held for sale for equity in variable interest entity $ 13,500  
Transfer from loans held for investment to held for sale   $ 14,584