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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 62,187,000 $ 39,260,000
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 8,857,000 9,855,000
Provision for credit losses 5,900,000 3,500,000
Stock-based compensation expense 2,505,000 2,398,000
Stock grants to directors for retainer fee 317,000 347,000
Proceeds from sales of mortgage loans held for sale 143,323,000 195,374,000
Origination of mortgage loans held for sale (144,886,000) (186,881,000)
Net gain from sales of mortgage loans held for sale (5,043,000) (6,787,000)
Net gain from sales and valuation write-downs of foreclosed assets (391,000) (47,000)
Net loss from sales and valuation write-downs of former bank premises 2,000 275,000
Net loss (gain) from sales and write-downs of fixed assets 369,000 (18,000)
Earnings on bank owned life insurance (1,224,000) (1,310,000)
Net gain on instruments designated at fair value and related derivatives (21,000) (149,000)
Net change in:    
Accrued interest receivable (4,131,000) (4,677,000)
Other assets (13,015,000) (407,000)
Accrued interest payable and other liabilities 19,163,000 32,060,000
Net cash from operating activities 73,912,000 82,793,000
Cash flows from investing activities    
Loan originations and payments, net (188,007,000) (426,842,000)
Purchases of securities available for sale (13,017,000) (91,200,000)
Proceeds from maturities, calls and repayments of securities available for sale 12,856,000 13,262,000
Proceeds from sales of foreclosed assets 452,000 47,000
Proceeds from sales of former bank premises 598,000 2,994,000
Purchases of Federal Home Loan Bank stock (3,792,000) 0
Proceeds from Federal Home Loan Bank stock redemption 0 281,000
Proceeds from bank owned life insurance death benefits claim 0 628,000
Net purchases of premises and equipment and lease activity (6,141,000) (2,166,000)
Net cash for investing activities (197,051,000) (502,996,000)
Cash flows from financing activities    
Net (decrease) increase in time deposits 282,296,000 (53,239,000)
Net decrease in all other deposits (94,372,000) (183,869,000)
Net (decrease) increase in securities sold under agreements to repurchase (30,258,000) 1,142,000
Maturities of Federal Home Loan Bank advances (50,353,000) (64,000,000)
Proceeds from Federal Home Loan Bank advances 200,000,000 28,263,000
Net proceeds from subordinated notes issuance 0 14,645,000
Proceeds from stock option exercises, net of cashless exercises 0 36,000
Employee stock purchase plan 33,000 33,000
Dividend reinvestment plan 670,000 653,000
Payment of cash dividends to common shareholders (15,662,000) (14,607,000)
Net cash (for) from financing activities 292,354,000 (270,943,000)
Net change in cash and cash equivalents 169,215,000 (691,146,000)
Cash and cash equivalents at beginning of period 96,772,000 975,160,000
Cash and cash equivalents at end of period 265,987,000 284,014,000
Supplemental disclosures of cash flows information    
Interest 48,664,000 15,372,000
Federal income tax 18,590,000 6,000,000
Noncash financing and investing activities:    
Transfers from premises and equipment to other assets 0 2,847,000
Transfers from bank premises to other real estate owned 600,000 0
Transfers from loans to foreclosed assets $ 112,000 $ 0