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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES:    
Net income $ 29,937,000 $ 28,501,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,419,000 2,526,000
Net amortization of purchase premiums and discounts on securities (195,000) 26,000
Depreciation and amortization 2,078,000 2,112,000
PPP deferred fees and costs (90,000) (1,376,000)
Deferred income tax benefit (522,000) (2,064,000)
Net realized security gains (243,000)  
Stock compensation expense 1,269,000 1,239,000
Gain on sale of mortgage loans, net (1,195,000) (1,231,000)
Gain on sale of SBA loans held for sale, net (896,000) (852,000)
BOLI income (843,000) (494,000)
Net change in other assets and liabilities (8,712,000) (18,830,000)
Net cash provided by operating activities 22,007,000 9,557,000
INVESTING ACTIVITIES    
Purchases of securities held to maturity   (26,748,000)
Purchases of equity securities (126,000) (1,539,000)
Purchases of securities available for sale (650,000) (45,249,000)
Purchases of FHLB stock, at cost (818,000) (10,848,000)
Maturities and principal payments on securities held to maturity   5,185,000
Maturities, calls and principal payments on securities available for sale 3,259,000 3,901,000
Proceeds from sales of equity securities 1,338,000  
Net decrease in SBA PPP loans 3,491,000 41,123,000
Net increase in loans (69,742,000) (332,650,000)
Proceeds from BOLI 2,397,000 468,000
Purchases of premises and equipment (794,000) (240,000)
Net cash used in investing activities (61,645,000) (366,597,000)
FINANCING ACTIVITIES    
Net increase in deposits 97,382,000 37,716,000
Net proceeds from borrowings 5,610,000 240,000,000
Proceeds from exercise of stock options 1,393,551 1,394,809
Fair market value of shares withheld to cover employee tax liability (266,000) (266,000)
Dividends on common stock (3,549,000) (3,243,000)
Purchase of treasury stock, including exise tax accrual (14,279,000)  
Net cash provided by financing activities 86,292,000 275,602,000
Increase (decrease) in cash and cash equivalents 46,654,000 (81,438,000)
Cash and cash equivalents, beginning of year 114,793,000 244,818,000
Cash and cash equivalents, end of period 161,447,000 163,380,000
SUPPLEMENTAL DISCLOSURES    
Interest paid 34,049,000 4,851,000
Income taxes paid 10,101,000 9,357,000
Noncash activities:    
Establishment of lease liability and right-of-use asset   582,000
Capitalization of servicing rights 430,000 $ 131,000
Transfer of loans to OREO $ 251,000