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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities      
Net Income $ 8,412,000 $ 29,111,000 $ 19,778,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Net premium / discount from amortization on securities   1,736,000 1,712,000
Securities (gains) losses, net (244,000) (246,000) 25,000
(Release of) provision for credit losses (1,500,000) (8,000,000) 10,413,000
Originations of loans held-for-sale   (191,679,000) (296,388,000)
Proceeds from sales of loans held-for-sale   207,339,000 300,045,000
Net gains on sales of mortgage loans (2,186,000) (7,802,000) (12,123,000)
Mortgage servicing rights mark to market loss 282,000 202,000 2,739,000
Net discount from accretion on loans   (618,000) (841,000)
Net change in cash surrender value of BOLI (406,000) (1,163,000) (942,000)
Net gains on sale of other real estate owned (5,000) (40,000) (188,000)
Provision for other real estate owned valuation losses   65,000 264,000
Depreciation of fixed assets and amortization of leasehold improvements   2,286,000 2,075,000
Amortization of core deposit intangibles 113,000 348,000 374,000
Change in current income taxes receivable   329,000 (781,000)
Deferred tax expense (benefit)   1,796,000 (693,000)
Change in accrued interest receivable and other assets   2,973,000 (19,144,000)
Amortization of purchase accounting adjustment on notes payable and other borrowings   (3,000) 25,000
Amortization of subordinated debentures issuance costs   42,000  
Amortization of junior subordinated debentures issuance costs     643,000
Amortization of senior notes issuance costs   79,000 79,000
Change in accrued interest payable and other liabilities   12,898,000 8,060,000
Stock based compensation   1,113,000 1,623,000
Net cash provided by operating activities   50,766,000 16,755,000
Cash flows from investing activities      
Proceeds from maturities and calls, including pay down of securities available-for-sale   91,931,000 41,645,000
Proceeds from sales of securities available-for-sale 26,873,000 35,075,000 18,006,000
Purchases of securities available-for-sale   (352,236,000) (14,681,000)
Net change in loans   168,551,000 (100,370,000)
Proceeds from claims on BOLI, net of claims receivable     483,000
Proceeds from sales of other real estate owned, net of participations and improvements   607,000 3,140,000
Net purchases of premises and equipment   (929,000) (2,635,000)
Net cash used in investing activities   (57,001,000) (54,412,000)
Cash flows from financing activities      
Net change in deposits   177,256,000 352,494,000
Net change in securities sold under repurchase agreements   (24,018,000) 10,575,000
Net change in other short-term borrowings     (42,375,000)
Redemption of junior subordinated debentures     (32,604,000)
Issuance of subordinated debentures, net of issuance costs   59,148,000  
Issuance of term note     20,000,000
Repayment of term note   (3,000,000) (2,000,000)
Net change in notes payable and other borrowings, excluding term note   (235,000) (229,000)
Dividends paid on common stock   (3,177,000) (893,000)
Purchase of treasury stock   (10,389,000) (4,803,000)
Net cash provided by financing activities   195,585,000 300,165,000
Net change in cash and cash equivalents   189,350,000 262,508,000
Cash and cash equivalents at beginning of period   329,903,000 50,632,000
Cash and cash equivalents at end of period $ 519,253,000 $ 519,253,000 $ 313,140,000