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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 8,469 $ 12,881
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 6,050 3,750
Accretion of certain acquisition-related discounts, net (298) (444)
Share-based compensation 973 927
Depreciation and amortization 1,896 1,963
Amortization of premiums and accretion of discounts on securities, net 769 600
Reversal of provision for indemnifications (275) (235)
Income from bank-owned life insurance (215) (190)
Pension expense 451 462
Proceeds from sales of loans held for sale 223,410 252,170
Origination of loans held for sale (239,259) (270,713)
Gains on sales of loans held for sale (2,989) (3,710)
Other gains, net 64 281
Change in other assets and liabilities:    
Accrued interest receivable (118) (284)
Other assets 872 325
Accrued interest payable 1,177 1,455
Other liabilities 1,613 (45)
Net cash provided by (used in) operating activities 2,590 (807)
Investing activities:    
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 72,896 44,841
Purchases of securities available for sale (16,532) (21,779)
Purchases of time deposits, net 736 (252)
Repayments on loans held for investment by non-bank affiliates 84,998 80,945
Purchases of loans held for investment by non-bank affiliates (93,840) (85,471)
Net increase in community banking loans held for investment (118,986) (49,686)
Purchases of corporate premises and equipment (1,024) (610)
Other investing activities, net (470) (4,037)
Net cash used in investing activities (72,222) (36,049)
Financing activities:    
Net decrease in demand and savings deposits (70,533) (171,418)
Net increase in time deposits 110,465 165,029
Net (decrease) increase in short-term borrowings (33,174) 87,588
Proceeds from long-term borrowings 40,000  
Repayments of long-term borrowings   (4,000)
Repurchases of common stock (4,543) (4,964)
Cash dividends paid (2,937) (3,022)
Other financing activities, net (139) (113)
Net cash provided by financing activities 39,139 69,100
Net (decrease) increase in cash and cash equivalents (30,493) 32,244
Cash and cash equivalents at beginning of period 75,159 26,661
Cash and cash equivalents at end of period 44,666 58,905
Supplemental cash flow disclosures:    
Interest paid 18,839 9,274
Income taxes paid 22 2,292
Supplemental disclosure of noncash investing and financing activities:    
Adoption of new accounting standard   $ 1,072
Liabilities assumed to acquire right of use assets at lease commencement $ 2,481