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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 93,767 $ 103,817 $ 95,733
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation 6,173 6,020 6,105
Financing Receivable, Credit Loss, Expense (Reversal) 5,850 9,375 1,077
Net loss on sale and write down of other real estate owned 0 96 67
Amortization of loan servicing rights 0 757 2,282
Net change in loan servicing rights valuation allowance 540 (715) 0
Loans originated for sale, including participations (8,601) (28,666) (119,439)
Net gain on sales of loans (292) (1,028) (4,376)
Proceeds from sale of loans, including participations 8,022 36,454 126,391
Net (gain) loss on sale of premises and equipment 3 7 43
Net (gain) loss on sales and calls of securities available-for-sale 25 (21) (797)
Net securities amortization 4,915 6,342 4,959
Stock based compensation expense 3,653 7,811 7,158
Earnings on life insurance (3,133) (432) (2,467)
Gain on life insurance (131) 0 (415)
Tax benefit of stock award issuances (718) (514) (330)
Net change:      
Interest receivable and other assets (6,169) (10,711) (1,852)
Interest payable and other liabilities 10,077 40,750 (371)
Total adjustments 20,214 65,525 18,035
Net cash from operating activities 113,981 169,342 113,768
Cash flows from investing activities:      
Proceeds from sale of securities available-for-sale 105,175 25,332 13,964
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 71,833 108,129 137,812
Proceeds from maturities, calls and principal paydowns of securities held-to-maturity 5 30 0
Purchases of securities available-for-sale (7,178) (315,272) (835,001)
Purchase of life insurance (258) (10,808) (711)
Net (increase) decrease in total loans (212,906) (427,097) 356,660
Proceeds from sales of land, premises and equipment 13 6 8
Purchases of land, premises and equipment (5,991) (4,821) (6,167)
Proceeds from redemption of Federal Home Loan Bank stock 0 932 0
Purchases of Federal Home Loan Bank stock (5,625) (2,955) 0
Proceeds from sales of other real estate owned 0 0 946
Proceeds from life insurance 0 0 943
Net cash from investing activities (54,932) (626,524) (331,546)
Cash flows from financing activities:      
Net increase (decrease) in total deposits 259,905 (274,787) 698,602
Net increase (decrease) in short-term borrowings (22,000) 22,000 (10,500)
Payments on short-term FHLB borrowings (275,000) 0 0
Proceeds from short-term FHLB borrowings 50,000 275,000 0
Payments on long-term FHLB borrowings 0 (75,000) 0
Proceeds from long-term FHLB borrowings 0 0 0
Common dividends paid (47,094) (40,838) (34,640)
Preferred dividends paid (13) (13) (13)
Payments related to equity incentive plan (3,135) (1,780) (1,914)
Purchase of treasury stock (575) (579) (559)
Sales of treasury stock 405 221 115
Net cash from financing activities (37,507) (95,776) 651,091
Net change in cash and cash equivalents 21,542 (552,958) 433,313
Beginning balance 130,282 683,240 249,927
Ending balance 151,824 130,282 683,240
Cash paid during the year for:      
Interest 128,525 36,113 18,471
Income taxes 14,075 20,580 25,947
Supplemental non-cash disclosures:      
Loans transferred to other real estate owned 284 0 893
Property transferred to held-for-sale 0 0 0
Right-of-use assets obtained in exchange for lease liabilities $ 0 $ 1,612 $ 0