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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 26,192,000 $ 47,434,000 $ 44,170,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 3,127,000 3,122,000 3,127,000
Amortization of premium and accretion of discount on securities, net 5,009,000 1,782,000 1,399,000
Amortization of restricted stock 6,875,000 5,909,000 4,445,000
Amortization of intangible assets 1,287,000 1,043,000 1,187,000
Amortization of subordinated debt costs 224,000 224,000 169,000
Provision for loan and lease losses 32,400,000 4,000,000 3,550,000
Valuation allowance loans held for sale 4,425,000   232,000
Stock-based compensation and employee stock purchase plan expense 224,000 158,000 189,000
Deferred tax expense 8,225,000 10,013,000 17,042,000
Fair value adjustment for equity security (281,000) (117,000) 105,000
Loss on sale of securities, available for sale, net     288,000
Proceeds from sales of loans held for sale [1] 187,704,000 73,709,000 44,483,000
Loans originated for sale [1] (194,735,000) (75,588,000) (44,075,000)
Gain on loans held for sale [1] (5,032,000) (2,866,000) (1,970,000)
(Gain)/loss on sale of loans held for sale at lower of cost or fair value (7,426,000) 10,000 4,392,000
Loss on sale of other real estate owned     58,000
Gain on death benefit     (3,000,000)
Increase in cash surrender value of life insurance, net of split dollar liability (681,000) (775,000) (767,000)
(Increase)/decrease in accrued interest receivable (12,001,000) 328,000 (1,362,000)
(Increase)/decrease in other assets (8,096,000) 5,111,000 (8,485,000)
(Decrease)/increase in accrued expenses and other liabilities (10,720,000) 12,799,000 (929,000)
Net cash provided by operating activities 36,720,000 86,296,000 64,248,000
Investing activities:      
Principal repayments, maturities and calls of securities available for sale 217,072,000 208,625,000 79,313,000
Redemptions for FHLB & FRB stock 39,462,000 34,427,000 87,602,000
Sales of securities available for sale 0 0 19,542,000
Purchase of securities available for sale (448,053,000) (209,971,000) (156,893,000)
Purchase of equity securities (4,000,000) (6,000,000)  
Purchase of FHLB & FRB stock (29,103,000) (39,962,000) (92,758,000)
Proceeds from sale of loans held for sale at lower of cost or fair value 372,406,000 4,984,000 126,898,000
Net increase in loans, net of participations sold (354,544,000) (478,099,000) (358,652,000)
Sales of other real estate owned   336,000 1,800,000
Purchases of premises and equipment (3,075,000) (1,705,000) (1,059,000)
Purchase of wealth management company (4,160,000) (2,600,000) (3,500,000)
Proceeds from death benefit   3,000,000  
Net cash used in investing activities (213,995,000) (486,965,000) (297,707,000)
Financing activities:      
Net increase in deposits 574,973,000 348,171,000 196,986,000
Net (decrease)/increase in short-term borrowings (113,100,000) 128,100,000  
Proceeds from FHLB advances     105,000,000
Proceeds from Paycheck Protection Program Liquidity Facility 535,838,000    
Repayments of Paycheck Protection Program Liquidity Facility 358,752,000    
Repayments of FHLB advances (105,000,000) (3,000,000) (34,898,000)
Dividends paid on common stock (3,780,000) (3,865,000) (3,712,000)
Exercise of stock options, net stock swaps 230,000 251,000 275,000
Restricted stock repurchased on vesting to pay taxes (741,000) (1,106,000) (1,540,000)
Proceeds from issuance of subordinated debt 98,153,000    
Sale of common shares (Dividend Reinvestment Program)     16,677,000
Issuance of shares for employee’s savings and investment plan     1,039,000
Issuance of shares for employee stock purchase plan 1,078,000 532,000 958,000
Purchase of treasury shares (6,487,000) (21,002,000)  
Net cash provided by financing activities 622,412,000 448,081,000 280,785,000
Net increase in cash and cash equivalents 445,137,000 47,412,000 47,326,000
Cash and cash equivalents at beginning of year 208,185,000 160,773,000 113,447,000
Cash and cash equivalents at end of year 653,322,000 208,185,000 160,773,000
Cash paid during the year for:      
Interest 38,281,000 60,293,000 42,768,000
Income taxes, net 9,786,000 3,595,000 3,605,000
Transfer of loans to loans held for sale 367,477,000 15,064,000 137,317,000
Transfer of loans to other real estate owned   386,000  
Security purchase settled in subsequent period   7,959,000  
Acquisitions (Note 21)      
Goodwill 2,895,000 5,791,000 7,310,000
Customer relationship & other intangibles $ 1,695,000 3,441,000 $ 2,440,000
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, this includes the guaranteed portion of SBA loans which are carried at the lower of cost or fair value.