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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 66,865 $ 63,799 $ 56,103
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 2,709 3,219 3,292
Provision for loan losses 3,404 5,697 3,139
Net amortization of securities 3,450 5,045 5,921
Deferred income tax benefit (2,695)    
Net accretion of discount and deferred loan fees on loans (3,707) (5,091) (5,853)
Net realized loss on sales of securities   2,541 1,275
Net unrealized loss on equity securities 5 122  
Net (gain) loss on sales of bank premises and equipment (29) 6 216
Net gain on sales of bank premises held for sale (448) (734)  
Impairment losses on bank premises held for sale 37 52 1,936
Net (gain) loss on sales of foreclosed assets (1,048) 268 (1,727)
Gain on loan foreclosures   (96) (974)
Write-down of foreclosed assets 563 1,165 2,419
Amortization of intangibles 1,423 1,559 1,916
Decrease (increase) in mortgage servicing rights 2,400 (629) 315
Amortization of subordinated debt purchase accounting adjustment 66 66 65
Mortgage loans originated for sale (150,652) (128,514) (158,948)
Proceeds from sale of mortgage loans 152,013 133,449 166,417
Net gain on sale of mortgage loans (3,092) (2,872) (4,506)
Gain on sale of First Community Title Services, Inc. (498)    
Decrease (increase) in accrued interest receivable 1,349 (553) (1,328)
(Increase) decrease in other assets (602) 35 (145)
Increase in other liabilities 17,579 1,460 2,549
Net cash provided by operating activities 89,092 79,994 72,082
CASH FLOWS FROM INVESTING ACTIVITIES      
Net change in interest-bearing time deposits with banks   496  
Proceeds from sales of securities available-for-sale   104,303 51,500
Proceeds from paydowns, maturities, and calls of securities 201,472 171,462 224,110
Purchase of securities (73,117) (189,412) (355,552)
Net increase in loans (17,950) (29,375) (15,748)
Purchase of restricted stock   (2,374) (171)
Proceeds from redemption of restricted stock 294 2,531 4,422
Purchases of bank premises and equipment (2,107) (1,656) (2,161)
Proceeds from sales of bank premises and equipment 176 10 120
Proceeds from sales of bank premises held for sale 1,039 2,252  
Proceeds from sales of foreclosed assets 5,460 6,851 9,049
Capital improvements to foreclosed assets (41)    
Cash received from sale of First Community Title Services, Inc. 114    
Net indemnification payments paid to the FDIC     (949)
Cash paid for termination of FDIC loss-sharing agreements     (4,929)
Net cash provided by (used in) investing activities 115,340 65,088 (90,309)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net decrease in deposits (19,115) (59,715) (21,519)
Net (decrease) increase in repurchase agreements (1,762) 8,357 (1,243)
Proceeds from Federal Home Loan Bank borrowings     29,000
Repayment of Federal Home Loan Bank borrowings   (29,000) (4,000)
Issuance of common stock 138,493    
Repurchase of common stock   (907)  
Cash dividends paid (224,956) (42,621) (57,069)
Net cash used in financing activities (107,340) (123,886) (54,831)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 97,092 21,196 (73,058)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 186,879 165,683 238,741
CASH AND CASH EQUIVALENTS AT END OF YEAR 283,971 186,879 165,683
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid for interest 10,010 7,826 6,648
Cash paid for income taxes 880 851 892
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES      
Transfers of loans to foreclosed assets 2,520 2,518 10,212
Sales of foreclosed assets through loan origination $ 2,046 $ 1,220 150
Transfers of bank premises and equipment to bank premises held for sale     $ 2,319