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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 12,518 $ 15,255
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (reversal of) loan losses 202 (320)
Accretion of certain acquisition-related discounts, net (927) (1,891)
Share-based compensation 1,008 820
Depreciation and amortization 2,222 2,390
Amortization of premiums and accretion of discounts on securities, net 1,494 1,731
(Reversal of) provision for indemnifications (869) 32
Income from bank-owned life insurance (188) (209)
Pension expense 320 434
Proceeds from sales of loans held for sale 443,660 909,516
Origination of loans held for sale (402,568) (806,866)
Gains on sales of loans held for sale (4,893) (13,005)
Other gains, net (96) (483)
Change in other assets and liabilities:    
Accrued interest receivable (891) 721
Other assets 695 1,189
Accrued interest payable (55) (258)
Other liabilities (2,236) (3,395)
Net cash provided by operating activities 49,396 105,661
Investing activities:    
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 30,981 55,496
Purchases of securities available for sale (192,741) (129,706)
(Purchases) maturities of time deposits, net 493 4,693
Repayments on loans held for investment by non-bank affiliates 92,107 77,605
Purchases of loans held for investment by non-bank affiliates (160,701) (97,971)
Net increase in community banking loans held for investment (39,372) (8,770)
Purchases of corporate premises and equipment (1,396) (3,444)
Proceeds from sales of other real estate owned 915 457
Changes in collateral posted with other financial institutions, net 3,880 3,480
Other investing activities, net (1,079) 671
Net cash used in investing activities (266,913) (97,489)
Financing activities:    
Net increase in demand and savings deposits 136,696 98,987
Net decrease in time deposits (45,293) (19,459)
Net increase in short-term borrowings 2,201 3,115
Repurchases of common stock (1,843) (4,765)
Cash dividends paid (2,831) (2,845)
Other financing activities, net (256) (409)
Net cash provided by financing activities 88,674 74,624
Net (decrease) increase in cash and cash equivalents (128,843) 82,796
Cash and cash equivalents at beginning of period 267,745 86,669
Cash and cash equivalents at end of period 138,902 169,465
Supplemental cash flow disclosures:    
Interest paid 3,593 4,957
Income taxes paid 3,086 5,632
Supplemental disclosure of noncash investing and financing activities:    
Transfers from corporate premises and equipment to other real estate owned 423  
Liabilities assumed to acquire right of use assets under operating leases 838 881
Transfers from loans held for sale to loans held for investment $ 1,191 $ 3,717