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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Jun. 30, 2022
Mar. 31, 2022
Operating Activities:        
Net income $ 4,830 $ 8,595 $ 4,795 $ 7,226
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities:        
Depreciation and amortization of premises and equipment 789     798
Amortization of software 287     293
Intangible asset amortization 4     6
Amortization of investment security premium, net of discount accretion 130     174
Unrealized loss on marketable equity securities 223     422
Stock-based compensation 140     187
Deferred loan fees and amortization, net of costs 15     (2,162)
Provision (benefit) for credit losses 360     (150)
Additions to home mortgage servicing rights carried at fair value (463)     (987)
Change in fair value of home mortgage servicing rights carried at fair value 795     (711)
Change in fair value of commercial servicing rights carried at fair value 123     134
Gain on sale of loans (1,305)     (3,921)
Proceeds from the sale of loans held for sale 55,583     171,166
Origination of loans held for sale (50,725)     (143,575)
Keyman life insurance proceeds 0     (2,002)
Net changes in assets and liabilities:        
(Increase) decrease in accrued interest receivable (941)     (319)
Decrease in other assets 1,222     1,149
(Decrease) in other liabilities (6,718)     (7,883)
Net Cash Provided by Operating Activities 4,349     19,845
Investment in securities:        
Purchases of investment securities available for sale (6,000)     (78,139)
Purchases of FHLB stock (6)     (726)
Purchases of investment securities held to maturity 0     (4,750)
Proceeds from sales/calls/maturities of securities available for sale 13,285     0
Proceeds from redemption of FHLB stock 70     5
(Increase) in purchased receivables, net (1,196)     (1,565)
(Increase) decrease in loans, net (33,630)      
(Increase) decrease in loans, net       38,399
Proceeds from keyman life insurance 0     2,002
Purchases of software (90)     0
Purchases of premises and equipment (1,131)     (1,050)
Net Cash (Used) by Investing Activities (28,698)     (45,824)
Financing Activities:        
(Decrease) in deposits (90,938)     (78,565)
(Decrease) in borrowings (104)     (104)
Repurchase of common stock (1,327)     (5,923)
Cash dividends paid (3,421)     (2,448)
Net Cash Used by Financing Activities (95,790)     (87,040)
Net Change in Cash and Cash Equivalents (120,139)     (113,019)
Cash and Cash Equivalents at Beginning of Period 259,350   $ 532,808 645,827
Cash and Cash Equivalents at End of Period 139,211 $ 259,350   532,808
Supplemental Information:        
Interest paid 4,650     726
Transfer of loans to other real estate owned 273     0
Non-cash lease liability arising from obtaining right of use assets 160     0
Cash dividends declared but not paid $ 23     $ 23