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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net income $ 44,675 $ 29,540 $ 25,866
Adjustments to reconcile net income to net cash provided (used) by operating activities      
Deferred income taxes (4,434) 337 (20)
Provision for loan losses 10,900 7,312 8,610
Provision for foreclosed asset losses     245
Depreciation and amortization 8,950 8,768 8,729
Amortization and accretion of premiums/discounts on investment securities 1,760 1,127 1,570
Amortization of operating lease right-of-use assets (25)    
Stock-based compensation 1,927 1,750 1,847
Increase in value of bank-owned life insurance (797) (803) (804)
Realized loss (gain) on sale of branch   (1,544)  
Realized loss (gain) on sale of fixed assets 707 (541) (11)
Realized loss (gain) on derivative instruments 1,927 (2,051) 1
Realized loss (gain) on loans sold (57,070) (18,942) (8,672)
Realized loss (gain) on sale of foreclosed assets (28) (122) (114)
Realized loss (gain) on sale of investment securities (2,737) (357) (129)
Realized loss (gain) on servicing rights 936 (209) (577)
Net change in:      
Securities held for trading   1,539 406
Loans held for sale (18,621) (13,146) 12,124
Accrued interest receivable (2,111) 12 (828)
Other assets (2,694) 4,399 4,478
Accrued expenses and other liabilities (5,527) 2,179 832
Net cash provided (used) by operating activities (22,262) 19,248 53,553
Investing Activities      
Proceeds from sales or calls of investment securities available-for-sale 75,647 32,565 6,488
Proceeds from maturities of investment securities available-for-sale 69,680 37,109 35,082
Purchases of investment securities available-for-sale (414,724) (123,226) (29,556)
Net (increase) decrease in equity securities 2,808 357 2,280
Net (increase) decrease in loans (259,130) (21,898) (163,156)
Payment to FDIC for termination of loss share agreements     (3,000)
Net cash paid for business combinations (9,279)    
Proceeds from sale of branch   10,379  
Proceeds from sale of fixed assets   875 11
Purchases of premises and equipment (3,811) (2,901) (3,753)
Proceeds from sales of foreclosed assets 429 1,146 896
Net cash provided (used) by investing activities (538,380) (65,594) (154,708)
Financing Activities      
Net increase (decrease) in deposits 600,677 191,444 (35,669)
Net increase (decrease) in short-term borrowings   (93,460) 63,460
Repayments of long-term debt (210) (230) (171)
Cash dividends paid on common stock (10,387) (8,909) (7,456)
Repurchase of common stock (482) (1,948) (356)
Proceeds from the issuance of common stock in initial public offering net of issuance costs   62,804  
Net cash provided (used) by financing activities 589,598 149,701 19,808
Net change in cash and cash equivalents 28,956 103,355 (81,347)
Cash and cash equivalents at beginning of period 144,006 40,651 121,998
Cash and cash equivalents at end of period 172,962 144,006 40,651
Cash paid for:      
Interest 12,641 18,431 12,315
Income taxes 13,582 7,219 5,347
Cash and cash equivalents acquired 513    
Non-cash information      
Loan collateral transferred to foreclosed assets 456 828 748
Unrealized gain (loss) on investment securities available-for-sale 8,702 5,537 (2,541)
Initial recognition of operating lease right-of-use assets   10,485  
Initial recognition of operating lease liabilities   11,006  
Right-of-use assets obtained in exchange for new operating leases 1,555    
ESOP repurchase obligation termination   $ 34,494  
Loans transferred to held for sale     32,031
Deposits transferred to held for sale     $ (24,197)
Noncash assets acquired 14,627    
Liabilities assumed (5,348)    
Net noncash acquired $ 9,279