XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 43,316 $ 42,677
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 2,296 2,297
Provision for loan losses (53) (7,234)
Net amortization of debt securities 5,337 5,205
Deferred income tax (benefit) expense (245) 2,409
Stock-based compensation 1,602 538
Net accretion of discount and deferred loan fees on loans (4,320) (9,529)
Net unrealized loss (gain) on equity securities 447 (74)
Net loss on disposals of bank premises and equipment 8 33
Net gain on sales of bank premises held for sale (187)  
Impairment losses on bank premises held for sale 61 652
Net gain on sales of foreclosed assets (118) (321)
Write-down of foreclosed assets 310 195
Amortization of intangibles 733 799
Increase in mortgage servicing rights (2,446) (1,425)
Amortization of discount and issuance costs on subordinated notes and debentures 109 109
Amortization of premium on interest-bearing time deposits with banks 5  
Amortization of premium on time deposits (164)  
Mortgage loans originated for sale (50,467) (152,036)
Proceeds from sale of mortgage loans 54,379 163,086
Net gain on sale of mortgage loans (1,267) (4,919)
Increase in cash surrender value of bank owned life insurance (122)  
(Increase) Decrease in accrued interest receivable (1,980) 879
Decrease in other assets 289 1,639
Increase (decrease) in other liabilities 1,583 (18,284)
Net cash provided by operating activities 49,106 26,696
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 129,629 149,659
Purchase of securities (368,794) (398,387)
Net (increase) decrease in loans (74,769) 104,376
Purchase of restricted stock (1,311) (241)
Purchases of bank premises and equipment (683) (773)
Proceeds from sales of bank premises and equipment 8 17
Proceeds from sales of bank premises held for sale 1,297  
Proceeds from sales of foreclosed assets 476 1,583
Net cash used in investing activities (313,662) (143,766)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net (decrease) increase in deposits (94,578) 289,022
Net (decrease) increase in repurchase agreements (13,126) 2,221
Net increase in Federal Home Loan Bank advances 60,000  
Taxes paid related to the vesting of restricted stock units (57)  
Repurchase of common stock (4,783) (2,323)
Cash dividends and dividend equivalents paid (13,953) (12,372)
Net cash (used in) provided by financing activities (66,497) 276,548
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (331,053) 159,478
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 409,268 312,451
CASH AND CASH EQUIVALENTS AT END OF PERIOD 78,215 471,929
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 4,851 4,992
Cash paid for income taxes 13,805 17,295
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES    
Transfers of loans to foreclosed assets $ 27 4,856
Sales of foreclosed assets through loan origination   252
Transfers of bank premises and equipment to bank premises held for sale   $ 1,345