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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 27,689 $ 28,962
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 1,532 1,545
Provision for loan losses (439) (5,567)
Net amortization of debt securities 3,609 3,553
Deferred income tax expense 141 1,137
Stock-based compensation 1,253 310
Net accretion of discount and deferred loan fees on loans (3,263) (5,499)
Net unrealized loss (gain) on equity securities 340 (46)
Net loss on disposals of bank premises and equipment 14 14
Net gain on sales of bank premises held for sale (187)  
Impairment losses on bank premises held for sale 23  
Net gain on sales of foreclosed assets (98) (213)
Write-down of foreclosed assets 65 73
Amortization of intangibles 490 547
Increase in mortgage servicing rights (2,095) (1,385)
Amortization of discount and issuance costs on subordinated notes and debentures 73 72
Amortization of premium on interest-bearing time deposits with banks 5  
Amortization of premium on time deposits (126)  
Mortgage loans originated for sale (38,091) (114,768)
Proceeds from sale of mortgage loans 38,634 127,192
Net gain on sale of mortgage loans (913) (3,662)
Increase in cash surrender value of bank owned life insurance (81)  
Decrease in accrued interest receivable 638 1,470
Decrease in other assets 1,827 2,190
Increase in other liabilities (245) (12,311)
Net cash provided by operating activities 30,795 23,614
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities of interest-bearing time deposits with banks 485  
Proceeds from sales of securities available-for-sale 0 0
Proceeds from paydowns, maturities, and calls of debt securities 74,703 101,621
Purchase of securities (349,769) (273,352)
Net decrease in loans 52,336 95,944
Purchase of restricted stock (74) (241)
Purchases of bank premises and equipment (496) (572)
Proceeds from sales of bank premises and equipment   17
Proceeds from sales of bank premises held for sale 1,297  
Proceeds from sales of foreclosed assets 447 1,229
Net cash used in investing activities (221,071) (75,354)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net (decrease) increase in deposits (36,073) 294,100
Net (decrease) increase in repurchase agreements (10,165) 1,020
Taxes paid related to the vesting of restricted stock units (57)  
Repurchase of common stock (3,351) (1,980)
Cash dividends and dividend equivalents paid (9,315) (8,248)
Net cash (used in) provided by financing activities (58,961) 284,892
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (249,237) 233,152
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 409,268 312,451
CASH AND CASH EQUIVALENTS AT END OF PERIOD 160,031 545,603
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 2,860 3,118
Cash paid for income taxes 7,845 12,991
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES    
Transfers of loans to foreclosed assets $ 27 4,856
Sales of foreclosed assets through loan origination   $ 178