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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 56,456 $ 56,271 $ 36,845
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 3,043 3,074 2,941
Provision for loan losses (706) (8,077) 10,532
Net amortization of debt securities 6,959 7,066 5,045
Amortization of unrealized gain on dedesignated cash flow hedge     (64)
Deferred income tax (benefit) expense (2,919) 2,908 (339)
Stock-based compensation 1,949 764 351
Net accretion of discount and deferred loan fees on loans (5,337) (12,448) (4,902)
Net unrealized loss (gain) on equity securities 414 (107) (33)
Net (gain) loss on disposals of bank premises and equipment (9) 33 2
Net gain on sales of bank premises held for sale (187)    
Impairment losses on bank premises held for sale 60 661 0
Net gain on sales of foreclosed assets (118) (505) (348)
Write-down of foreclosed assets 432 195 213
Amortization of intangibles 873 1,054 1,232
(Increase) decrease in mortgage servicing rights (2,153) (1,690) 2,584
Amortization of discount and issuance costs on subordinated notes and debentures 145 144 92
Amortization of premium on Federal Home Loan Bank borrowings   (105)  
Amortization of premium on interest-bearing time deposits with banks 5 4  
Amortization of premium on time deposits (188) (81)  
Mortgage loans originated for sale (56,240) (179,921) (370,112)
Proceeds from sale of mortgage loans 62,028 195,538 368,765
Net gain on sale of mortgage loans (1,461) (5,846) (8,835)
Increase in cash surrender value of bank owned life insurance (164) (41)  
(Increase) decrease in accrued interest receivable (4,605) 240 (304)
(Increase) decrease in other assets (8,007) 1,676 (1,090)
Increase (decrease) in other liabilities 22,316 (17,784) (11,320)
Net cash provided by operating activities 72,586 43,023 31,255
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from maturities of interest-bearing time deposits with banks 485 245 248
Proceeds from paydowns, maturities, and calls of debt securities 154,166 213,491 222,999
Purchase of securities (371,682) (513,838) (523,559)
Net increase in loans (113,665) (50,089) (80,278)
Purchase of restricted stock (6,151) (241) (73)
Proceeds from redemption of restricted stock 925 796  
Purchases of bank premises and equipment (1,047) (1,028) (1,861)
Proceeds from sales of bank premises and equipment 27 17 1
Proceeds from sales of bank premises held for sale 1,344    
Proceeds from sales of foreclosed assets 475 5,805 2,079
Capital improvements to foreclosed assets     (6)
Net cash paid for acquisition of NXT Bancorporation, Inc.   (4,771)  
Net cash used in investing activities (335,123) (349,613) (380,450)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net (decrease) increase in deposits (150,973) 426,146 353,679
Net (decrease) increase in repurchase agreements (18,175) 11,440 1,303
Net increase (decrease) in Federal Home Loan Bank advances 160,000 (12,520)  
Issuance of subordinated notes, net of issuance costs     39,211
Taxes paid related to the vesting of restricted stock units (57)    
Repurchase of common stock (4,783) (4,906)  
Cash dividends and dividend equivalents paid (18,584) (16,753) (16,518)
Net cash (used in) provided by financing activities (32,572) 403,407 377,675
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (295,109) 96,817 28,480
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 409,268 312,451 283,971
CASH AND CASH EQUIVALENTS AT END OF PERIOD 114,159 409,268 312,451
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid for interest 6,860 5,928 6,441
Cash paid for income taxes 20,035 20,861 17,451
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING ACTIVITIES      
Transfers of loans to foreclosed assets $ 541 4,857 1,074
Sales of foreclosed assets through loan origination   252 $ 67
Transfers of bank premises and equipment to bank premises held for sale   $ 1,345