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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 42,677 $ 24,203
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 2,297 2,176
Provision for loan losses (7,234) 10,102
Net amortization of debt securities 5,205 3,298
Amortization of unrealized gain on dedesignated cash flow hedge   (64)
Deferred income tax expense 2,409 (628)
Stock-based compensation 538 263
Net accretion of discount and deferred loan fees on loans (9,529) (3,459)
Net unrealized gain on equity securities (74) (3)
Net loss on disposals of bank premises and equipment 33 2
Impairment losses on bank premises held for sale 652  
Net gain on sales of foreclosed assets (321) (269)
Write-down of foreclosed assets 195 156
Amortization of intangibles 799 927
(Increase) decrease in mortgage servicing rights (1,425) 2,947
Amortization of discount and issuance costs on subordinated notes and debentures 109 56
Mortgage loans originated for sale (152,036) (271,903)
Proceeds from sale of mortgage loans 163,086 258,566
Net gain on sale of mortgage loans (4,919) (5,855)
Decrease in accrued interest receivable 879 131
Decrease in other assets 1,639 437
Decrease in other liabilities (18,284) (26,156)
Net cash provided by (used in) operating activities 26,696 (5,073)
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in interest-bearing time deposits with banks   248
Proceeds from paydowns, maturities, and calls of debt securities 149,659 147,561
Purchase of securities (398,387) (344,335)
Net decrease (increase) in loans 104,376 (113,533)
Purchase of restricted stock (241) (73)
Purchases of bank premises and equipment (773) (1,463)
Proceeds from sales of bank premises and equipment 17 1
Proceeds from sales of foreclosed assets 1,583 1,793
Capital improvements to foreclosed assets   (6)
Net cash used in investing activities (143,766) (309,807)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 289,022 239,806
Net increase in repurchase agreements 2,221 1,005
Issuance of subordinated notes, net of issuance costs   39,211
Repurchase of common stock (2,323)  
Cash dividends and dividend equivalents paid (12,372) (12,389)
Net cash provided by financing activities 276,548 267,633
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 159,478 (47,247)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 312,451 283,971
CASH AND CASH EQUIVALENTS AT END OF PERIOD 471,929 236,724
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 4,992 5,191
Cash paid for income taxes 17,295 14,308
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES    
Transfers of loans to foreclosed assets 4,856 499
Sales of foreclosed assets through loan origination 252 $ 67
Transfers of bank premises and equipment to bank premises held for sale $ 1,345