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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 13,640 $ 33,341
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 1,406 1,381
Provision for loan losses 7,928 2,582
Net amortization of debt securities 1,825 1,868
Amortization of unrealized gain on dedesignated cash flow hedge (64) (20)
Deferred income tax benefit 185  
Stock-based compensation 163  
Net accretion of discount and deferred loan fees on loans (1,313) (2,450)
Net unrealized loss (gain) on equity securities (5) (115)
Net loss (gain) on sales of bank premises and equipment 3 (30)
Net gain on sales of bank premises held for sale   (448)
Impairment losses on bank premises held for sale   9
Net gain on sales of foreclosed assets (144) (105)
Write-down of foreclosed assets 58 389
Amortization of intangibles 622 752
Decrease in mortgage servicing rights 2,679 2,122
Amortization of subordinated debt purchase accounting adjustment 33 33
Mortgage loans originated for sale (152,706) (54,948)
Proceeds from sale of mortgage loans 133,974 53,630
Net gain on sale of mortgage loans (2,671) (1,185)
Gain on sale of First Community Title Services, Inc.   (498)
Decrease in accrued interest receivable 1,290 691
Increase in other assets (375) (541)
(Decrease) increase in other liabilities (19,146) 2,490
Net cash (used in) provided by operating activities (12,618) 38,948
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in interest-bearing time deposits with banks 248  
Proceeds from paydowns, maturities, and calls of debt securities 97,066 91,196
Purchase of securities (179,418) (40,424)
Net increase in loans (111,420) (58,339)
Purchase of restricted stock (73)  
Proceeds from redemption of restricted stock   294
Purchases of bank premises and equipment (1,305) (784)
Proceeds from sales of bank premises and equipment   176
Proceeds from sales of bank premises held for sale   1,039
Proceeds from sales of foreclosed assets 1,001 969
Capital improvements to foreclosed assets (6)  
Cash received from sale of First Community Title Services, Inc.   114
Net cash used in investing activities (193,907) (5,759)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase (decrease) in deposits 238,258 (22,202)
Net increase (decrease) in repurchase agreements 6,921 (10,549)
Cash dividends paid (8,260) (45,591)
Net cash provided by (used in) financing activities 236,919 (78,342)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 30,394 (45,153)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 283,971 186,879
CASH AND CASH EQUIVALENTS AT END OF PERIOD 314,365 141,726
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 3,822 4,976
Cash paid for income taxes 2,935 880
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES    
Transfers of loans to foreclosed assets 327 1,761
Sales of foreclosed assets through loan origination $ 67 $ 360