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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 56,622,000 $ 26,192,000 $ 47,434,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 3,190,000 3,127,000 3,122,000
Amortization of premium and accretion of discount on securities, net 5,817,000 5,009,000 1,782,000
Amortization of restricted stock 7,055,000 6,875,000 5,909,000
Amortization of intangible assets 1,598,000 1,287,000 1,043,000
Amortization of subordinated debt costs 1,003,000 224,000 224,000
Provision for loan and lease losses 6,475,000 32,400,000 4,000,000
Swap valuation allowance 2,243,000    
Valuation allowance loans held for sale   4,425,000  
Stock-based compensation and employee stock purchase plan expense 126,000 224,000 158,000
Deferred tax expense 9,452,000 8,225,000 10,013,000
Fair value adjustment for equity security 432,000 (281,000) (117,000)
Proceeds from sales of loans held for sale [1] 171,342,000 187,704,000 73,709,000
Loans originated for sale [1] (176,759,000) (194,735,000) (75,588,000)
Gain on loans held for sale [1] (7,133,000) (5,032,000) (2,866,000)
(Gain)/loss on sale of loans held for sale at lower of cost or fair value (1,142,000) (7,426,000) 10,000
Gain on sale of other real estate owned (51,000)    
Gain on death benefit (455,000)    
Increase in cash surrender value of life insurance, net of split dollar liability (618,000) (681,000) (775,000)
Decrease/(increase) in accrued interest receivable 906,000 (12,001,000) 328,000
(Increase)/decrease in other assets (4,866,000) (8,096,000) 5,111,000
Increase/(decrease) in accrued expenses and other liabilities 226,000 (10,720,000) 12,799,000
Net cash provided by operating activities 75,463,000 36,720,000 86,296,000
Investing activities:      
Principal repayments, maturities and calls of securities held to maturity 234,000    
Purchase of securities held to maturity (108,925,000)    
Principal repayments, maturities and calls of securities available for sale 453,427,000 217,072,000 208,625,000
Redemptions for FHLB & FRB stock 807,000 39,462,000 34,427,000
Purchase of securities available for sale (653,524,000) (448,053,000) (209,971,000)
Purchase of equity securities   (4,000,000) (6,000,000)
Purchase of FHLB & FRB stock (48,000) (29,103,000) (39,962,000)
Proceeds from sale of loans held for sale at lower of cost or fair value 66,086,000 372,406,000 4,984,000
Net increase in loans, net of participations sold (503,747,000) (354,544,000) (478,099,000)
Sales of other real estate owned 101,000   336,000
Purchases of premises and equipment (3,928,000) (3,075,000) (1,705,000)
Purchase of wealth management company (5,500,000) (4,160,000) (2,600,000)
Proceeds from death benefit 1,219,000   3,000,000
Net cash used in investing activities (753,798,000) (213,995,000) (486,965,000)
Financing activities:      
Net increase in deposits 447,665,000 574,973,000 348,171,000
Net (decrease)/increase in short-term borrowings   (113,100,000) 128,100,000
Proceeds from Paycheck Protection Program Liquidity Facility   535,838,000  
Repayments of Paycheck Protection Program Liquidity Facility 177,086,000 358,752,000  
Repayments of FHLB advances (15,000,000) (105,000,000) (3,000,000)
Dividends paid on common stock (3,775,000) (3,780,000) (3,865,000)
Exercise of stock options, net stock swaps 187,000 230,000 251,000
Restricted stock repurchased on vesting to pay taxes (2,380,000) (741,000) (1,106,000)
Proceeds from issuance of subordinated debt   98,153,000  
Repayments of subordinated debt (50,000,000)    
Issuance of shares for employee stock purchase plan 833,000 1,078,000 532,000
Purchase of treasury shares (28,627,000) (6,487,000) (21,002,000)
Net cash provided by financing activities 171,817,000 622,412,000 448,081,000
Net (decrease)/increase in cash and cash equivalents (506,518,000) 445,137,000 47,412,000
Cash and cash equivalents at beginning of year 653,322,000 208,185,000 160,773,000
Cash and cash equivalents at end of year 146,804,000 653,322,000 208,185,000
Cash paid during the year for:      
Interest 22,356,000 38,281,000 60,293,000
Income taxes, net 16,079,000 9,786,000 3,595,000
Transfer of loans to loans held for sale 57,376,000 367,477,000 15,064,000
Transfer of loans to other real estate owned     386,000
Security purchase settled in subsequent period     7,959,000
Acquisitions (Note 21)      
Goodwill 3,109,000 2,895,000 5,791,000
Customer relationship & other intangibles $ 3,500,000 $ 1,695,000 3,441,000
Right-of-use asset obtained in exchange for lease obligation     $ 7,012,000
[1] Includes mortgage loans originated with the intent to sell which are carried at fair value. In addition, includes the guaranteed portion of SBA loans which are carried at the lower of cost or fair value.