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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 31,177 $ 15,368
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Net accretion of acquisition accounting estimates (1,768) (440)
Provision for credit losses 1,925 (358)
Depreciation and amortization 5,861 3,086
Net amortization of securities 1,414 1,579
Amortization of debt issuance costs 122 123
(Gain) on mortgage banking activities (3,918) (918)
Proceeds from sale of mortgage loans held for sale 131,286 15,562
Originations of loans held for sale (102,144) (42,199)
Stock-based compensation expense 636 378
Deferred income tax expense (benefit) (1,182) 278
(Gains) on sales and calls of securities   (2)
(Gains) loss on valuation adjustments on mortgage servicing rights (372) 59
Losses on sales and disposals of premises and equipment 183 4
Losses on sales and valuation adjustments on other real estate owned 44 2
Fair value adjustment on equity securities 157 40
Bank owned life insurance income (1,118) (1,090)
Net changes in:    
Accrued interest receivable (2,665) 2,145
Other assets (1,450) (3,045)
Accrued interest payable 297 (5)
Other liabilities (5,838) 1,930
Net cash (used in) provided by operating activities 52,647 (7,503)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities and principal payments of investment securities available for sale 20,441 40,656
Proceeds from maturities and principal payments of investment securities held to maturity 52,324 40,274
Purchases of securities held to maturity (208,133) (255,514)
Purchases of equity securities (18) (17)
Purchase of restricted securities (8,560)  
Net change in loans (426,973) (79,771)
Purchases of premises and equipment (2,415) (3,450)
Proceeds from sales of premises and equipment 17  
Proceeds from sales of other real estate owned 394  
Improvements to other real estate owned (34)  
Redemption of restricted securities 1,550 437
Purchases of bank owned life insurance (10,165) (10,203)
Cash acquired in the acquisition of Severn, net of cash paid   305,781
Net cash (used in) provided by investing activities (581,572) 38,193
CASH FLOWS FROM FINANCING ACTIVITIES:    
Noninterest-bearing deposits (65,482) 35,821
Interest-bearing deposits 49,580 334,512
Short-term borrowings 35,857 3,093
Repayment of long-term borrowings (10,000)  
Common stock dividends paid (9,530) (6,607)
Retirement of common stock   (819)
Issuance of common stock 386 6
Net cash provided by financing activities 811 366,006
Net (decrease) increase in cash and cash equivalents (528,114) 396,696
Cash and cash equivalents at beginning of period 583,613 186,917
Cash and cash equivalents at end of period 55,499 583,613
Supplemental cash flows information:    
Interest paid 12,621 6,007
Income taxes paid 11,851 6,253
Recognition (remeasurement of) lease liabilities arising from right-of-use assets (456) 1,383
Transfer from loans held for sale to loans held for investment 7,791  
Transfers from loans to other real estate owned 69 205
Unrealized (loss) on securities available for sale $ (12,488) $ (2,027)