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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:        
Net income     $ 40,910 $ 12,259
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     3,931 3,950
Net amortization of premiums on securities     2,452 1,378
(Benefit) provision for credit losses $ (4,622) $ 3,746 (6,603) 17,661
Share-based compensation 562 369 778 701
Deferred income tax expense (benefit)     2,333 (1,663)
Proceeds from sale of loans held for sale     42,767 31,504
Originations of loans held for sale     (40,523) (33,070)
Income on company owned life insurance (693) (462) (1,350) (927)
Net gain on sale of loans held for sale (790) (612) (1,868) (864)
Net gain on investment securities 3 (674) (71) (895)
Net gain on other assets (153) 1 (148) (63)
Noncash restructuring charges against assets 5   11  
Decrease (increase) in other assets     2,950 (36,571)
(Decrease) increase in other liabilities     (14,620) 16,772
Net cash provided by operating activities     30,949 10,172
Cash flows from investing activities:        
Purchases of available for sale securities     (411,641) (121,622)
Purchases of held to maturity securities     (1,830) (4,761)
Proceeds from principal payments, maturities and calls on available for sale securities     70,596 59,228
Proceeds from principal payments, maturities and calls on held to maturity securities     54,288 53,282
Proceeds from sales of securities available for sale 25,216 26,474 51,891 29,631
Net loan originations     (37,523) (276,409)
Purchases of company owned life insurance, net of proceeds received     (12) (7)
Proceeds from sales of other assets     2,459 482
Purchases of premises and equipment     (6,284) (2,375)
Cash consideration paid for acquisition, net of cash acquired     (759)  
Net cash used in investing activities     (278,815) (262,551)
Cash flows from financing activities:        
Net increase in deposits     380,854 438,333
Net decrease in short-term borrowings     (5,300) (170,200)
Repurchase of preferred stock     (43)  
Purchases of common stock for treasury     (5,964) (196)
Cash dividends paid to common and preferred shareholders     (9,172) (8,895)
Net cash provided by financing activities     360,375 259,042
Net increase in cash and cash equivalents     112,509 6,663
Cash and cash equivalents, beginning of period     93,878 112,947
Cash and cash equivalents, end of period $ 206,387 $ 119,610 $ 206,387 $ 119,610