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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 13,604 $ 15,245
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 763 774
Provision for loan losses (584) (3,405)
Net amortization of debt securities 1,763 1,732
Deferred income tax expense 566 685
Stock-based compensation 901 129
Net accretion of discount and deferred loan fees on loans (1,608) (2,562)
Net unrealized loss (gain) on equity securities 187 (40)
Net loss on disposals of bank premises and equipment 4  
Net gain on sales of bank premises held for sale (197)  
Net gain on sales of foreclosed assets (105) 3
Write-down of foreclosed assets 65 73
Amortization of intangibles 245 289
Increase in mortgage servicing rights (1,729) (1,695)
Amortization of discount and issuance costs on subordinated notes and debentures 37 36
Mortgage loans originated for sale (20,440) (71,835)
Proceeds from sale of mortgage loans 24,192 75,766
Net gain on sale of mortgage loans (587) (2,100)
Increase in cash surrender value of bank owned life insurance (40)  
Decrease in accrued interest receivable 1,374 1,537
Decrease in other assets 1,521 875
Decrease (increase) in other liabilities 1,379 (9,032)
Net cash provided by operating activities 21,311 6,475
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in interest-bearing time deposits with banks 3  
Proceeds from paydowns, maturities, and calls of debt securities 41,117 59,641
Purchase of securities (189,744) (142,980)
Net decrease (increase) in loans 14,649 (21,482)
Purchases of bank premises and equipment (289) (418)
Proceeds from sales of bank premises held for sale 568  
Proceeds from sales of foreclosed assets 294 15
Net cash used in investing activities (133,402) (105,224)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 77,884 225,432
Net increase (decrease) in repurchase agreements (10,422) (3,760)
Taxes paid related to the vesting of restricted stock units (57)  
Repurchase of common stock (943) (1,514)
Cash dividends and dividend equivalents paid (4,660) (4,124)
Net cash used in financing activities 61,802 216,034
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (50,289) 117,285
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 409,268 312,451
CASH AND CASH EQUIVALENTS AT END OF PERIOD 358,979 429,736
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 1,890 2,077
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES    
Transfers of loans to foreclosed assets $ 19 $ 671