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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 20,974,000 $ 11,492,000
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 3,049,000 3,458,000
Provision for credit losses 600,000 100,000
Stock-based compensation expense 853,000 811,000
Proceeds from sales of mortgage loans held for sale 25,645,000 79,622,000
Origination of mortgage loans held for sale (24,951,000) (75,046,000)
Net gain from sales of mortgage loans held for sale (950,000) (3,205,000)
Net gain from sales and valuation write-downs of foreclosed assets 0 (13,000)
Net (gain) loss from sales and write-downs of fixed assets 377,000 (1,000)
Earnings on bank owned life insurance (401,000) (287,000)
Net (gain) loss on instruments designated at fair value and related derivatives 180,000 (55,000)
Net change in:    
Accrued interest receivable (1,947,000) (1,344,000)
Other assets 131,000 2,589,000
Accrued interest and other liabilities (5,495,000) 9,767,000
Net cash from operating activities 18,065,000 27,888,000
Cash flows from investing activities    
Loan originations and payments, net (48,939,000) (102,241,000)
Purchases of securities available for sale (7,392,000) (51,705,000)
Proceeds from maturities, calls and repayments of securities available for sale 1,703,000 2,854,000
Proceeds from sales of foreclosed assets 0 13,000
Proceeds from Federal Home Loan Bank stock redemption 0 281,000
Net purchases of premises and equipment and lease activity (2,508,000) (332,000)
Net cash for investing activities (57,136,000) (151,130,000)
Cash flows from financing activities    
Net increase (decrease) in time deposits 87,115,000 (35,861,000)
Net decrease in all other deposits (201,908,000) (71,081,000)
Net increase in securities sold under agreements to repurchase 33,113,000 6,808,000
Net change in federal funds purchased 17,207,000 0
Proceeds from Federal Home Loan Bank advances 80,000,000 28,263,000
Payoffs of and paydowns on Federal Home Loan Bank advances (10,353,000) (20,000,000)
Employee stock purchase plan 10,000 10,000
Net proceeds from stock option exercises 0 36,000
Dividend reinvestment plan 217,000 222,000
Proceeds from subordinated notes issuance 0 14,701,000
Payment of cash dividends to common shareholders (5,164,000) (4,812,000)
Net cash from (for) financing activities 237,000 (81,714,000)
Net change in cash and cash equivalents (38,834,000) (204,956,000)
Cash and cash equivalents at beginning of period 96,772,000 975,160,000
Cash and cash equivalents at end of period 57,938,000 770,204,000
Supplemental disclosures of cash flows information    
Interest 11,838,000 4,240,000
Noncash financing and investing activities:    
Transfers from loans to foreclosed assets 61,000 0
Transfers from bank premises to other real estate owned $ 600,000 $ 0