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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 19,951 $ 29,663
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses (9,000) 0
Depreciation and amortization, premises and equipment 2,593 2,408
Amortization of premiums and discounts: securities, deposits, debt 999 1,234
Operating leases: excess of payments over amortization (1,096) (990)
Amortization of finance leases 143 269
Amortization of core deposit intangibles 245 294
Amortization of deferred loan fees and costs (322) (818)
Share-based compensation expense 1,076 810
Lease impairment costs 0 194
Deferred income tax expense (benefit) 5,363 4,448
Origination of LHFS (252,102) (734,572)
Proceeds from sale of LHFS 372,464 719,448
Net fair value adjustment and gain on sale of LHFS 3,348 (12,799)
Origination of MSRs (5,492) (11,126)
Net gain on sale of loans originated as LHFI 0 (2,795)
Change in fair value of MSRs (6,878) (5,770)
Amortization of servicing rights 1,712 1,344
Net change in trading securities (19,313) 0
(Increase) decrease in other assets 5,972 11,519
Increase (decrease) in accounts payable and other liabilities 4,226 (4,942)
Net cash provided by (used in) operating activities 123,889 (2,181)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities (161,016) (49,433)
Proceeds from sale of investment securities 962  
Principal payments on investment securities 34,129 55,863
Proceeds from sale of OREO 952  
Proceeds from sale of loans originated as LHFI 0 132,694
Net increase in LHFI (328,288) (176,655)
Purchase of premises and equipment (1,444) (531)
Proceeds from sale of Federal Home Loan Bank stock 16,003 53,880
Purchases of Federal Home Loan Bank stock (25,238) (43,412)
Net cash used in investing activities (463,940) (27,594)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase (decrease) in deposits, net 100,973 309,634
Changes in short-term borrowings, net 232,000 (238,300)
Proceeds from debt issuance, net 98,035 0
Repayment of finance lease principal (145) (235)
Repurchases of common stock (75,000) (25,001)
Proceeds from exercise of stock options 0 263
Dividends paid on common stock (7,164) (5,534)
Net cash provided by financing activities 348,699 40,827
Net increase in cash and cash equivalents 8,648 11,052
Cash and cash equivalents, beginning of year 65,214 58,049
Cash and cash equivalents, end of period 73,862 69,101
Cash paid during the period for:    
Interest 2,691 4,291
Federal and state income taxes 4 50
Non-cash activities:    
Increase in lease assets and lease liabilities 2,053 283
Loans transferred from LHFI to LHFS, net 6,731 130,218
Ginnie Mae loans derecognized with the right to repurchase, net 2,402 19,576
Repurchase of common stock-award shares $ 902 $ 2,526