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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 9,243 $ 2,087
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,200 4,000
Share based compensation expense 365 279
Gain on sale of investment securities available-for-sale (97)  
Amortization of premium on securities, net 133 8
Accretion of gain on terminated cash flow hedges (206) (51)
Accretion of SBA Paycheck Protection Program fees (13) (1,350)
Amortization of subordinated debt origination costs 51  
Depreciation, amortization and accretion 222 (388)
Earnings on bank-owned life insurance (475) (143)
Net change in operating leases 180 (67)
Net change in fair value hedge assets and liabilities 1 8
Changes in operating assets and liabilities:    
Accrued interest receivable and other assets 2,228 3,658
Accrued interest payable and other liabilities (4,853) (7,159)
Net cash provided by operating activities 7,979 882
Cash flows from investing activities:    
Increase in non-marketable equity securities (133) (3,800)
Investment securities available-for-sale activity:    
Purchases (10,117) (101,082)
Sales 3,880  
Maturities, calls and principal paydowns 551 698
Net originations on loans held for investment (104,713) (376,993)
Net additions to bank premises and equipment (709) (2,324)
Deposit proceeds from pending sales of foreclosed assets   10
Purchase of bank owned life insurance (3,000)  
Net cash used in investing activities (114,241) (483,491)
Cash flows from financing activities:    
Net increase in deposits 86,387 446,060
Net proceeds from subordinated debt issuance   80,507
Proceeds from stock options exercised   55
Dividends paid on Series A preferred stock (1,197)  
Net cash provided by financing activities 85,190 526,904
Change in cash and cash equivalents (21,072) 44,295
Cash and cash equivalents at beginning of period 332,014 327,025
Cash and cash equivalents at end of period 310,942 371,320
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 25,458 2,023
Supplemental Disclosure of Noncash Investing and Financing Activities:    
Right of use lease assets obtained in exchange for operating lease liabilities 1,907 10,890
ASU 2016-13    
Supplemental Disclosure of Noncash Investing and Financing Activities:    
Adjustment to allowance for credit losses for adoption of ASC 326, net of tax $ 3,160  
ESOP Contributions    
Cash flows from financing activities:    
Issuance of common stock to ESOP   $ 282