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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 12,416 $ 13,316
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (Release of) credit losses 60 (412)
Amortization (accretion) of deferred charges and fees, net 667 733
Depreciation (accretion)and amortization, net 238 52
Bank owned life insurance income (187) (187)
Share-based compensation and other share-based activity (898) (634)
Change in accrued interest receivable (11) (556)
Deferred income tax expense 2,659 2,960
Change in loans held for sale   572
Change in other assets, net 5,440 (2,180)
Change in other liabilities, net (15,830) (11,055)
Net cash provided by operating activities 4,554 2,609
CASH FLOWS FROM INVESTING ACTIVITIES    
Origination of loans (144,601) (274,217)
Proceeds from principal payments of loans 189,792 199,307
Purchase of loans   (22,497)
Proceeds from calls/maturities of securities available for sale 3,779 8,624
Purchase of securities available for sale   (10,169)
Proceeds from calls/maturities of securities held to maturity 20,856 37,173
Purchase of securities held to maturity   (176,574)
(Purchase) redemption of FHLB of Boston stock (5,908)  
Purchase of banking premises and equipment (337) (460)
Net cash used in investing activities 63,581 (238,813)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in demand, interest bearing, money market and savings accounts (324,099) 170,890
Change in certificates of deposit 165,450 (28,278)
Change in short term borrowings 135,785 (353)
Cash dividends paid on common stock (5,224) (4,460)
Net cash provided by financing activities (28,088) 137,799
Net change in cash and cash equivalents 40,047 (98,405)
Cash and cash equivalents at beginning of period 30,719 180,153
Cash and cash equivalents at end of period 70,766 81,748
Cash paid during the period for:    
Interest 16,935 2,033
Income taxes $ 2,430 $ 7,790