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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 70,791 $ 81,145 $ 35,903
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision (credit) for loan losses (3,990) 6,340 (900)
Depreciation, amortization, accretion 6,048 5,608 4,698
Deferred income taxes 1,378 (2,620) 639
Stock based compensation 745 716 1,067
Origination of mortgage servicing rights (5,778) (13,406) (354)
Proceeds on sales of mortgage servicing rights 12,448 6,985 0
Gain on sale of loans held for sale (193,399) (245,358) (128,928)
Loans originated for sale (4,198,139) (4,332,028) (2,853,222)
Proceeds on sales of loans originated for sale 4,480,804 4,395,505 2,903,643
Gain on death benefit on bank owned life insurance 0 (1,456) 0
Decrease (increase) in accrued interest receivable 944 387 (7)
Increase in cash surrender value of life insurance (1,615) (1,905) (1,935)
Decrease (increase) in derivative assets 6,688 (9,222) (179)
(Decrease) increase in accrued interest on deposits and borrowings (178) (422) 164
(Increase) decrease in prepaid income tax (2,558) 113 330
Legal settlement (4,250) 4,250 0
(Decrease) increase in derivative liabilities (5,140) 5,140 (1,116)
Net gain on real estate owned (12) (107) (304)
Gain on sale of mortgage servicing rights (4,032) (600) 0
Change in other assets and other liabilities, net (6,301) 7,353 282
Net cash provided by (used in) operating activities 154,454 (93,582) (40,219)
Investing activities:      
Net decrease (increase) in loans receivable 170,297 12,353 (9,896)
Purchases of:      
FHLB stock 0 (5,570) (8,100)
Debt securities 0 (10,125) 0
Mortgage related securities (73,687) (19,372) (28,860)
Premises and equipment, net (778) (1,225) (3,114)
Bank owned life insurance (180) (180) (180)
Proceeds from:      
Principal repayments on mortgage-related securities 40,445 45,254 31,944
Maturities of debt securities 9,055 5,290 8,080
Sales of FHLB stock 2,282 0 6,300
Death benefit from bank owned life insurance 0 9,633 0
Sales of real estate owned 183 1,133 2,674
Net cash provided by (used in) investing activities 147,617 37,191 (1,152)
Financing activities:      
Net increase in deposits 48,516 117,094 29,281
Net change in short term borrowings (30,947) 24,512 8,516
Repayment of long term debt 0 0 (125,000)
Proceeds from long term debt 0 0 165,000
Increase (decrease) in advance payments by borrowers for taxes 572 (690) (159)
Cash dividends on common stock (30,388) (31,520) (25,960)
Proceeds from stock option exercises 2,307 3,704 659
Purchase of common stock returned to authorized but unissued (10,176) (36,242) (22,767)
Net cash (used in) provided by financing activities (20,116) 76,858 29,570
Increase (decrease) in cash and cash equivalents 281,955 20,467 (11,801)
Cash and cash equivalents at beginning of year 94,767 74,300 86,101
Cash and cash equivalents at end of year 376,722 94,767 74,300
Cash paid or credited during the period for:      
Income tax payments 22,663 29,478 10,703
Interest payments 14,546 25,406 27,380
Noncash investing activities:      
Loans receivable transferred to other real estate 0 637 1,052
Dividends declared but not paid in other liabilities $ 17,525 $ 5,232 $ 3,501