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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 79,593 $ 82,217 $ 61,063
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 10,505 11,496 12,945
Provision for credit losses 7,400 7,700 6,550
Deferred income tax benefit (397) (2,036) (1,353)
Stock-based compensation expense 3,316 3,384 3,377
Stock grants to directors for retainer fees 423 350 359
Proceeds from sales of mortgage loans held for sale 384,784 196,217 237,779
Origination of mortgage loans held for sale (370,201) (204,727) (217,030)
Net gain on sales of mortgage loans held for sale (11,800) (6,532) (8,197)
Loss from sale of mortgage loans 112 0 0
Net gain from sales and valuation write-downs of foreclosed assets (290) (419) (69)
Net (gain) loss from sale and write-downs on former bank premises (83) 2 275
Net (gain) loss from sales and disposals of premises and equipment 13 471 (36)
Earnings on bank owned life insurance (2,555) (1,500) (1,678)
Net (gain) loss on instruments designated at fair value and related derivatives (203) 257 (45)
Net change in:      
Accrued interest receivable (1,595) (4,330) (6,165)
Other assets (25,797) (30,189) (437)
Accrued interest and other liabilities 27,893 14,252 32,524
Net cash from operating activities 101,118 66,613 119,862
Cash flows from investing activities      
Purchases of securities available for sale (173,618) (19,941) (107,011)
Proceeds from maturities, calls and repayments of securities available for sale 61,777 24,142 17,984
Loan originations and payments, net (309,834) (387,283) (462,427)
Proceeds from sale of mortgage loans 9,839 0 0
Proceeds from Federal Home Loan Bank stock redemption 0 0 281
Purchases of Federal Home Loan Bank stock 0 (3,792) 0
Purchases of bank owned life insurance (7,000) (3,500) (4,500)
Proceeds from bank owned life insurance death benefits claim 1,357 0 628
Purchases of premises and equipment and lease activity (8,530) (6,687) (3,017)
Proceeds from sales of former bank premises 283 598 2,994
Proceeds from sales of foreclosed assets 290 531 69
Net cash for investing activities (425,436) (395,932) (554,999)
Cash flows from financing activities      
Net (decrease) increase in time deposits 159,727 422,781 (57,189)
Net (decrease) increase in all other deposits 637,721 (234,674) (313,193)
Net (decrease) increase in securities sold under agreements to repurchase (108,213) 35,394 (3,123)
Proceeds from Federal Home Loan Bank advances 10,000 240,000 28,263
Maturities of Federal Home Loan Bank advances (90,827) (80,353) (94,000)
Net proceeds from subordinated notes issuance 0 0 14,645
Proceeds from stock option exercises, net of cashless exercises 0 0 36
Employee stock purchase plan 50 45 45
Dividend reinvestment plan 810 891 867
Payment of cash dividends to common shareholders (22,473) (21,004) (19,602)
Net cash (for) from financing activities 586,795 363,080 (443,251)
Net change in cash and cash equivalents 262,477 33,761 (878,388)
Cash and cash equivalents at beginning of period 130,533 96,772 975,160
Cash and cash equivalents at end of period 393,010 130,533 96,772
Supplemental disclosures of cash flows information      
Interest 129,228 72,024 21,765
Federal income taxes 21,400 24,850 11,200
Noncash financing and investing activities:      
Transfers from loans to foreclosed assets 0 112 0
Transfers from bank premises to other real estate owned 0 800 0
Transfers from premises and equipment to other assets $ 0 $ 0 $ 2,847