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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Net income $ 10,359 $ 19,507
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,971 2,277
Provision for credit losses (2,452) 492
Net accretion of purchase accounting adjustments (171) (101)
Net (accretion) amortization of securities (78) 776
Loss (gain) on call or sale of investment securities, net 1 (6)
Loss on sale or disposition of fixed assets, net 917 88
Loss on sale of other real estate owned, net 137 43
Gain on sale of loans (75) (37)
Loss on early extinguishment of subordinated debt 0 222
FHLB stock dividend (418) (20)
Stock-based compensation 939 869
Deferred taxes (10) (246)
Net change in value of bank owned life insurance (689) (618)
Amortization of subordinated debt issuance costs 47 57
Change in the fair value of equity securities 111 75
Originations 0 (624)
Proceeds from sales 0 1,281
Net change in:    
Accrued interest receivable 88 450
Other assets 3,080 (3,563)
Accrued taxes and other liabilities 1,518 843
Net cash provided by operating activities 15,275 21,765
Cash flows from investing activities:    
Proceeds from sales of investment securities available for sale 2,364 0
Purchases of securities available for sale (67,473) (152,573)
Purchases of securities held to maturity (10,000) 0
Proceeds from maturities, prepayments and calls of investment securities available for sale 80,455 35,841
Proceeds from maturities, prepayments and calls of investment securities held to maturity 487 545
Proceeds from redemption or sale of equity securities 15,278 326
Purchases of equity securities (2,654) (6,216)
Net decrease (increase) in loans 5,022 (35,251)
Proceeds from sales of other real estate owned 1,323 1,401
Proceeds from sales of fixed assets 9 4,692
Purchases of fixed assets (537) (615)
Purchases of bank owned life insurance 0 (5,000)
Purchases of other investments (334) (618)
Distributions from investments 183 5
Cash paid for branch sale to First Community Bank, net of cash received (596) 0
Net cash provided by (used in) investing activities 23,527 (157,463)
Cash flows from financing activities:    
Net increase (decrease) in customer deposits 113,152 (57,793)
Net increase (decrease) in repurchase agreements 5,183 (5,636)
Net (decrease) increase in short-term FHLB advances (333,500) 161,300
Net increase in borrowings under the Bank Term Funding Program 235,800 0
Repayment of long-term FHLB advances (30,000) 0
Cash dividends paid on common stock (1,883) (1,706)
Proceeds from stock options exercised 105 98
Payments to repurchase common stock (2,011) (7,604)
Proceeds from subordinated debt, net of issuance costs 0 19,548
Extinguishment of subordinated debt 0 (18,600)
Net cash (used in) provided by financing activities (13,154) 89,607
Net change in cash and cash equivalents 25,648 (46,091)
Cash and cash equivalents, beginning of period 40,259 97,041
Cash and cash equivalents, end of period 65,907 50,950
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES    
Transfer from loans to other real estate owned 3,814 1,673
Transfer from bank premises and equipment to other real estate owned 1,100 525
First Community Bank [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of loans (75) 0
Held for Sale [Member]    
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of loans $ 0 $ (37)