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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 36,845 $ 66,865 $ 63,799
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 2,941 2,709 3,219
Provision for loan losses 10,532 3,404 5,697
Net amortization of debt securities 5,045 3,450 5,045
Amortization of unrealized gain on dedesignated cash flow hedge (64) (86)  
Deferred income tax benefit (339) (2,695)  
Stock-based compensation 351    
Net accretion of discount and deferred loan fees on loans (4,902) (3,707) (5,091)
Net realized loss on sales of securities     2,541
Net unrealized (gain) loss on equity securities (33) 5 122
Net loss (gain) on sales of bank premises and equipment 2 (29) 6
Net gain on sales of bank premises held for sale   (448) (734)
Impairment losses on bank premises held for sale   37 52
Net (gain) loss on sales of foreclosed assets (348) (1,048) 268
Gain on loan foreclosures     (96)
Write-down of foreclosed assets 213 563 1,165
Amortization of intangibles 1,232 1,423 1,559
Decrease in mortgage servicing rights 2,584 2,400 (629)
Amortization of discount and issuance costs on subordinated notes and debentures 92 66 66
Mortgage loans originated for sale (370,112) (150,652) (128,514)
Proceeds from sale of mortgage loans 368,765 152,013 133,449
Net gain on sale of mortgage loans (8,835) (3,092) (2,872)
Gain on sale of First Community Title Services, Inc.   (498)  
(Increase) decrease in accrued interest receivable (304) 1,349 (553)
(Increase) decrease in other assets (1,090) (516) 35
(Decrease) increase in other liabilities (11,320) 17,579 1,460
Net cash provided by operating activities 31,255 89,092 79,994
CASH FLOWS FROM INVESTING ACTIVITIES      
Net change in interest-bearing time deposits with banks 248   496
Proceeds from sales of securities available-for-sale     104,303
Proceeds from paydowns, maturities, and calls of debt securities 222,999 201,472 171,462
Purchase of securities (523,559) (73,117) (189,412)
Net increase in loans (80,278) (17,950) (29,375)
Purchase of restricted stock (73)   (2,374)
Proceeds from redemption of restricted stock   294 2,531
Purchases of bank premises and equipment (1,861) (2,107) (1,656)
Proceeds from sales of bank premises and equipment 1 176 10
Proceeds from sales of bank premises held for sale   1,039 2,252
Proceeds from sales of foreclosed assets 2,079 5,460 6,851
Capital improvements to foreclosed assets (6) (41)  
Cash received from sale of First Community Title Services, Inc.   114  
Net cash (used in) provided by investing activities (380,450) 115,340 65,088
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase (decrease) in deposits 353,679 (19,115) (59,715)
Net increase (decrease) in repurchase agreements 1,303 (1,762) 8,357
Repayment of Federal Home Loan Bank borrowings     (29,000)
Issuance of subordinated notes, net of issuance costs 39,211    
Issuance of common stock, net of issuance costs   138,493  
Repurchase of common stock     (907)
Cash dividends and dividend equivalents paid (16,518) (224,956) (42,621)
Net cash provided by (used in) financing activities 377,675 (107,340) (123,886)
NET INCREASE IN CASH AND CASH EQUIVALENTS 28,480 97,092 21,196
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 283,971 186,879 165,683
CASH AND CASH EQUIVALENTS AT END OF PERIOD 312,451 283,971 186,879
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid for interest 6,441 10,010 7,826
Cash paid for income taxes 17,451 880 851
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES      
Transfers of loans to foreclosed assets 1,074 2,520 2,518
Sales of foreclosed assets through loan origination $ 67 $ 2,046 $ 1,220