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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 103,817 $ 95,733 $ 84,337
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation 6,020 6,105 6,042
Provision for loan losses 9,375 1,077 14,770
Net loss on sale and write down of other real estate owned 96 67 0
Amortization of loan servicing rights 757 2,282 772
Net change in loan servicing rights valuation allowance (715) 0 715
Loans originated for sale, including participations (28,666) (119,439) (117,600)
Net gain on sales of loans (1,028) (4,376) (4,510)
Proceeds from sale of loans, including participations 36,454 126,391 114,244
Net (gain) loss on sale of premises and equipment 7 43 86
Net (gain) loss on sales and calls of securities available-for-sale (21) (797) (433)
Net securities amortization 6,342 4,959 3,998
Stock based compensation expense 7,811 7,158 1,790
Earnings on life insurance (432) (2,467) (2,105)
Gain on life insurance 0 (415) (730)
Tax benefit of stock award issuances (514) (330) (71)
Net change:      
Interest receivable and other assets (10,711) (1,852) (6,315)
Interest payable and other liabilities 40,750 (371) (7,762)
Total adjustments 65,525 18,035 2,891
Net cash from operating activities 169,342 113,768 87,228
Cash flows from investing activities:      
Proceeds from sale of securities available- for-sale 25,332 13,964 8,018
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 108,129 137,812 97,998
Proceeds from maturities, calls and principal paydowns of securities held-to-maturity 30 0 0
Purchases of securities available-for-sale (315,272) (835,001) (216,478)
Purchase of life insurance (10,808) (711) (10,409)
Net (increase) decrease in total loans (427,097) 356,660 (587,377)
Proceeds from sales of land, premises and equipment 6 8 658
Purchases of land, premises and equipment (4,821) (6,167) (5,719)
Proceeds from redemption of Federal Home Loan Bank stock 932 0 0
Purchases of Federal Home Loan Bank stock (2,955) 0 0
Proceeds from sales of other real estate owned 0 946 0
Proceeds from life insurance 0 943 1,285
Net cash from investing activities (626,524) (331,546) (712,024)
Cash flows from financing activities:      
Net increase (decrease) in total deposits (274,787) 698,602 902,986
Net increase (decrease) in short-term borrowings 22,000 (10,500) 10,500
Payments on short-term FHLB borrowings 0 0 (170,000)
Proceeds from short-term FHLB borrowings 275,000 0 0
Payments on long-term FHLB borrowings (75,000) 0 0
Proceeds from long-term FHLB borrowings 0 0 75,000
Common dividends paid (40,838) (34,640) (30,566)
Preferred dividends paid (13) (13) (13)
Payments related to equity incentive plan (1,780) (1,914) (2,137)
Purchase of treasury stock (579) (559) (10,547)
Sales of treasury stock 221 115 119
Net cash from financing activities (95,776) 651,091 775,342
Net change in cash and cash equivalents (552,958) 433,313 150,546
Beginning balance 683,240 249,927 99,381
Ending balance 130,282 683,240 249,927
Cash paid during the year for:      
Interest 36,113 18,471 35,740
Income taxes 20,580 25,947 19,355
Supplemental non-cash disclosures:      
Loans transferred to other real estate owned 0 893 35
Property transferred to held for sale 0 0 0
Right-of-use assets obtained in exchange for lease liabilities $ 1,612 $ 0 $ 0