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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income $ 20,754,000 $ 23,546,000
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 4,604,000 4,038,000
Increase in cash surrender value of bank-owned life insurance (469,000) (469,000)
Provision for loan losses 1,976,000 1,297,000
Share-based compensation expense 1,534,000 1,262,000
Loss on sale of available-for-sale securities 0  
Loans originated for sale (311,268,000) (421,012,000)
Proceeds from sale of loans 335,226,000 448,093,000
Gain on loans sold (9,736,000) (16,774,000)
Decrease in fair value of loans held-for-sale 149,000 744,000
Gain on derivatives (2,546,000) (1,384,000)
Loan servicing asset revaluation 767,000 395,000
Net change in accrued income and other assets 16,183,000 1,631,000
Net change in accrued expenses and other liabilities (5,173,000) 1,984,000
Net cash provided by operating activities 52,001,000 41,492,000
Investing Activities    
Net loan activity, excluding purchases (11,665,000) 120,219,000
Proceeds from sale of other real estate owned 1,188,000 0
Maturities and calls of securities available-for-sale 52,397,000 94,643,000
Purchase of securities available-for-sale (10,133,000) (247,791,000)
Maturities and calls of securities held-to-maturity 2,309,000 2,500,000
Purchase of securities held-to-maturity (31,782,000) 0
Redemption of Federal Home Loan Bank of Indianapolis stock 431,000 0
Net proceeds from sale of premises and equipment 0 8,116,000
Purchase of premises and equipment (12,634,000) (13,707,000)
Loans purchased (197,514,000) (22,611,000)
Net proceeds from sale of portfolio loans 14,466,000 0
Other investing activities 374,000 2,264,000
Net cash used in investing activities (192,563,000) (56,367,000)
Financing Activities    
Net decrease in deposits (26,858,000) (64,738,000)
Cash dividends paid (1,168,000) (1,201,000)
Repayment of subordinated debt 0 (10,000,000)
Repurchase of common stock (16,240,000) 0
Proceeds from advances from Federal Home Loan Bank 220,000,000 110,000,000
Repayment of advances from Federal Home Loan Bank (270,000,000) (110,000,000)
Other, net (179,000) (195,000)
Net cash used in financing activities (94,445,000) (76,134,000)
Net Decrease in Cash and Cash Equivalents (235,007,000) (91,009,000)
Cash and Cash Equivalents, Beginning of Period 442,960,000 419,806,000
Cash and Cash Equivalents, End of Period 207,953,000 328,797,000
Supplemental Disclosures    
Cash paid during the period for interest 20,722,000 24,832,000
Income Taxes Paid, Net 1,892,000 2,905,000
Loans transferred to other real estate owned 0 1,300,000
Loans transferred to held-for-sale from portfolio 14,049,000 0
Cash dividends declared, paid in subsequent period 564,000 592,000
Securities purchased during the period, settled in subsequent period 0 13,590,000
Transfer of available-for-sale mortgage-backed securities to held-to-maturity mortgage-backed securities at fair value $ 96,220,000 $ 0