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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 23,229,000 $ 32,331,000
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 6,692,000 6,755,000
Accretion of acquired loans 0 (68,000)
Provision for credit losses 600,000 (2,800,000)
Stock-based compensation expense 1,608,000 1,277,000
Stock grants to directors for retainer fee 347,000 344,000
Proceeds from sales of mortgage loans held for sale 135,521,000 352,740,000
Origination of mortgage loans held for sale (127,413,000) (340,680,000)
Net gain from sales of mortgage loans held for sale (4,955,000) (16,892,000)
Net gain from sales and valuation write-downs of foreclosed assets (20,000) (81,000)
Net loss from sales and valuation write-downs of former bank premises 0 245,000
Net loss from sales and write-downs of fixed assets 391,000 246,000
Earnings on bank owned life insurance (1,072,000) (574,000)
Gain on sale of branch 0 (1,058,000)
Net change in:    
Accrued interest receivable (1,573,000) 1,188,000
Other assets (11,749,000) (9,099,000)
Accrued interest payable and other liabilities 28,391,000 (1,695,000)
Net cash from operating activities 49,997,000 22,179,000
Cash flows from investing activities    
Loan originations and payments, net (269,930,000) (64,298,000)
Purchases of securities available for sale (78,640,000) (168,906,000)
Proceeds from maturities, calls and repayments of securities available for sale 11,641,000 44,525,000
Proceeds from sales of foreclosed assets 20,000 158,000
Proceeds from sales of former bank premises 0 5,000
Proceeds from Federal Home Loan Bank stock redemption 281,000 0
Proceeds from bank owned life insurance death benefits claim 628,000 0
Net cash transferred in branch sale 0 (2,679,000)
Net purchases of premises and equipment and lease activity (399,000) (3,555,000)
Net cash for investing activities (336,399,000) (194,750,000)
Cash flows from financing activities    
Net decrease in time deposits (77,992,000) (92,581,000)
Net (decrease) increase in all other deposits (131,308,000) 366,943,000
Net increase in securities sold under agreements to repurchase 5,876,000 51,372,000
Maturities of Federal Home Loan Bank advances (40,000,000) 0
Proceeds from Federal Home Loan Bank advances 28,263,000 0
Net proceeds from subordinated notes issuance 14,645,000 0
Proceeds from stock option exercises, net of cashless exercises 36,000 0
Employee stock purchase plan 21,000 22,000
Dividend reinvestment plan 435,000 411,000
Repurchases of common stock shares 0 (10,851,000)
Payment of cash dividends to common shareholders (9,629,000) (9,220,000)
Net cash (for) from financing activities (209,653,000) 306,096,000
Net change in cash and cash equivalents (496,055,000) 133,525,000
Cash and cash equivalents at beginning of period 975,160,000 626,006,000
Cash and cash equivalents at end of period 479,105,000 759,531,000
Supplemental disclosures of cash flows information    
Interest 8,780,000 10,583,000
Federal income tax 5,200,000 12,150,000
Noncash financing and investing activities:    
Transfers from premises and equipment to other assets 2,847,000 0
Transfers from loans to foreclosed assets $ 0 $ 30,000