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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net Income (Loss) Attributable to Parent $ 81,875 $ 98,035 $ 46,570
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion 341 (21,739) (3,612)
(Reversal of) provision for credit losses (1,426) (29,372) 36,106
Stock-based compensation expense 3,795 3,666 3,559
Amortization of intangible assets 2,750 3,111 3,525
Origination of mortgage loans held for sale (15,190) (86,443) (136,979)
Proceeds from sale of mortgage loans held for sale 17,299 93,543 142,624
Bank owned life insurance income (3,747) (2,520) (4,319)
Valuation adjustment on interest rate swaps (66) (355) 422
Gain on sale of other real estate owned 0 0 (179)
Gain on sale of mortgage loans held for sale, net (633) (3,644) (5,044)
Gain (loss) on sale of investment securities, net 256 (29) (1,518)
Gain on sale of assets held for sale (403) (4,440) (1,043)
Other 9,605 19,717 (9,781)
Net cash provided by operating activities 94,456 69,530 70,331
Cash flows from investing activities:      
Loan originations and purchases, net of payments (225,149) 699,107 (692,720)
Maturities and repayments of investment securities available for sale 181,487 254,668 264,223
Maturities and repayments of investment securities held to maturity 28,296 1,255 0
Purchase of investment securities available for sale (790,871) (616,123) (152,618)
Purchase of investment securities held to maturity (412,835) (140,288) 0
Proceeds from sales of investment securities available for sale 30,390 1,248 55,030
Purchase of premises and equipment (4,016) (3,018) (6,997)
Proceeds from sales of other real estate owned 0 0 1,290
Proceeds from sales of assets held for sale 2,102 10,556 2,407
Proceeds from redemption of Federal Home Loan Bank stock 2,002 0 2,560
Purchases of Federal Home Loan Bank stock (2,985) (1,272) (2,844)
Proceeds from sales of premises and equipment 106 65 554
Purchases of bank owned life insurance 230 10,166 3,641
Proceeds from bank owned life insurance death benefit 2,114 0 1,324
Cash received from return of NMTC equity method investment 0 9,642 0
Capital contributions to tax credit partnerships (18,190) (41,911) (7,117)
Net cash (used) provided by investing activities (1,207,779) 163,763 (538,549)
Cash flows from financing activities:      
Net (decrease) increase in deposits (469,450) 783,347 1,015,314
Federal Home Loan Bank advances 50,050 0 64,000
Repayment of Federal Home Loan Bank advances (50,050) 0 (64,000)
Common stock cash dividends paid (29,491) (28,937) (28,859)
Net (decrease) increase in securities sold under agreement to repurchase (4,242) 15,156 15,514
Proceeds from exercise of stock options 0 0 122
Repurchase of common stock (3,196) (22,889) (19,119)
Net cash (used) provided by financing activities (506,379) 746,677 982,972
Net (decrease) increase in cash and cash equivalents (1,619,702) 979,970 514,754
Cash and cash equivalents at beginning of period 1,723,292 743,322 228,568
Cash and cash equivalents at end of period 103,590 1,723,292 743,322
Supplemental disclosures of cash flow information:      
Cash paid for interest 7,709 6,790 13,136
Cash paid for income taxes, net of refunds 5,035 9,888 13,432
Supplemental non-cash disclosures of cash flow information:      
Transfer of investment securities available for sale to held to maturity 0 244,778 0
Investment in tax credit partnerships and related funding commitment 85,888 29,551 10,237
Loans received from return of NMTC equity method investment 0 15,596 0
ROU assets obtained in exchange for lease liabilities during the period 2,869 13,966 1,265
Transfers of premises and equipment classified as held for sale to prepaid expenses and other assets from premises and equipment, net 910 3,556 3,243
Cumulative effect from change in accounting policy [1] 0 0 7,175
Transfer of bank owned life insurance to prepaid expenses and other assets due to death benefit accrued, but not paid 0 0 2,672
Transfers of loans receivable to other real estate owned 0 0 270
Transfer Of Deposits To Deposits Held For Sale $ 17,420 $ 0 $ 0
[1] Effective January 1, 2020, the Bank adopted ASU 2016-13, Financial Instruments - Credit Losses, respectively.