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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 114,868 $ 117,390 $ 125,419
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment, and amortization 5,998 6,366 6,012
Amortization of intangible assets 4,120 6,118 6,334
Provision for credit losses 6,632 23,990 18,470
Amortization of investment securities premium, net 865 312 6,641
Loss on sale of investment securities 43 284 0
Originations of loans for resale (59,620) (43,313) (71,600)
Proceeds from sale of loans originated for resale 60,401 45,467 74,922
Gain on sale of loans (1,532) (1,166) (2,342)
Change in fair market value of mortgage servicing rights 480 506 (301)
Gain on sale of real estate owned, net 8 (18) (166)
Deferred income tax expense (646) (2,399) (8,022)
Gain on transfer of loans to real estate owned (81) (114) (316)
Operating lease payments (6,170) (6,378) (5,904)
Loss (gain) on disposal of fixed assets 19 23 (1,070)
Increase in cash value of life insurance (3,257) (3,150) (2,858)
Gain on life insurance death benefit 0 0 (309)
(Gain) loss on marketable equity securities (40) (36) 340
Equity compensation vesting expense 4,666 4,125 3,869
Change in value of other real estate 323 797 113
Amortization of operating lease right of use asset 5,950 6,364 6,033
Change in:      
Interest receivable 1,958 (4,912) (9,170)
Interest payable 3,056 7,278 (287)
Other assets and liabilities, net (28,334) (18,647) 17,087
Net cash from operating activities 109,707 138,887 162,895
Investing activities:      
Cash acquired in acquisition; net of consideration paid 0 0 426,883
Maturities and principal repayments of securities available for sale 401,384 321,738 267,830
Maturities and principal repayments of securities held to maturity 21,421 27,260 38,399
Proceeds from sale of available for sale securities 31,534 71,024 0
Purchases of securities available for sale (187,763) (34,468) (699,035)
Loan origination and principal collections, net 22,628 (345,902) (739,037)
Loans purchased 0 (6,423) (22,845)
Proceeds from sale of real estate owned 351 224 873
Proceeds from sale of premises and equipment 0 0 6,690
Purchases of premises and equipment (4,557) (4,886) (3,623)
Life insurance proceeds 0 0 641
Net cash used in investing activities 284,998 28,567 (723,224)
Financing activities:      
Net change in deposits 253,538 (494,975) (253,625)
Net change in other borrowings (542,972) 367,977 214,518
Repurchase of common stock, net (15,544) (9,240) (27,148)
Dividends paid (43,646) (39,901) (35,797)
Exercise of stock options 174 156 1,190
Net cash used in financing activities (348,450) (175,983) (100,862)
Net change in cash and cash equivalents 46,255 (8,529) (661,191)
Cash and cash equivalents at beginning of year 98,701 107,230 768,421
Cash and cash equivalents at end of year 144,956 98,701 107,230
Supplemental disclosure of cash flow activity:      
Cash paid for interest expense 132,148 74,399 9,290
Cash paid for income taxes 33,700 45,300 41,000
Supplemental disclosure of noncash activities:      
Unrealized gain (loss) on securities available for sale (1,827) 58,727 (290,157)
Loans transferred to foreclosed assets 682 155 1,349
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes 1,363 2,266 2,522
Obligations incurred in conjunction with leased assets 2,226 4,300 6,149
Business combination [1]
[1]
(1) In the year ended 2022, the VRB acquisition included fair value tangible assets acquired of $1.37 billion, liabilities assumed of $1.28 billion, resulting in goodwill of $0.09 billion.