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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 69,829 $ 69,118 $ 68,432
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 12,342 1,575 1,550
Depreciation of premises and equipment 3,176 3,291 3,282
Net amortization of premiums and discounts on securities and loans 5,720 4,492 2,865
Amortization of intangibles 914 943 979
Share–based compensation 3,766 3,124 2,602
Tax (expense) benefit from stock option exercises and other equity awards (103) 248 496
Deferred income tax benefit (3,130) (1,491) (63)
Income from bank-owned life insurance [1] (2,491) (2,354) (2,196)
Net gains on loan sales, including fair value adjustments (48,005) (14,332) (9,749)
Net realized losses on securities [1] 0 53 0
Proceeds from sales of loans, net 1,117,188 530,713 391,960
Loans originated for sale (1,114,448) (525,675) (378,896)
Change in fair value of contingent consideration liability 0 0 (187)
(Increase) decrease in operating lease right-of-use assets (2,729) 2,131 0
Increase (decrease) in operating lease liabilities 2,856 (1,992) 0
Increase in other assets (57,730) (27,961) (7,456)
Increase in other liabilities 49,323 31,552 9,257
Net cash provided by (used in) operating activities 36,478 73,435 82,876
Cash flows from investing activities:      
Purchases of mortgage-backed available for sale debt securities (369,166) (178,797) (175,539)
Purchases of other available for sale debt securities (149,899) (27,520) (76,264)
Proceeds from sale of other available for sale debt securities 0 11,877 0
Maturities and principal payments of mortgage-backed available for sale debt securities 351,161 147,620 83,197
Maturities and principal payments of other available for sale debt securities 176,000 108,306 7,301
Maturities, calls and principal payments of held-to-maturity debt securities: MBS 0 0 2,029
Net redemption (purchases) of Federal Home Loan Bank stock 20,568 (4,785) (5,551)
Net increase in loans (241,418) (154,502) (306,299)
Purchases of loans (51,659) (60,465) (1,780)
Proceeds from the sale of property acquired through foreclosure or repossession 1,392 2,000 49
Purchases of premises and equipment (3,406) (3,132) (3,974)
Proceeds from sale of premises 0 213 0
Purchases of bank-owned life insurance 0 0 (5,000)
Proceeds from sale of equity investment in real estate limited partnership 1,400 0 0
Proceeds from bank-owned life insurance 787 326 0
Equity investment in real estate limited partnership 0 (1,256) 0
Net cash provided by (used in) investing activities (264,240) (160,115) (481,831)
Cash flows from financing activities:      
Net increase (decrease) in deposits 879,471 (25,166) 281,341
Proceeds from Federal Home Loan Bank advances 1,988,500 1,982,000 2,040,000
Repayment of Federal Home Loan Bank advances (2,536,105) (1,791,258) (1,880,634)
Proceeds from Payment Protection Program Lending Facility 200,628 0 0
Repayment of Payment Protection Program Lending Facility (200,628) 0 0
Payment of contingent consideration liability 0 0 (1,217)
Treasury stock purchased (4,322) 0 0
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (470) 273 (671)
Cash dividends paid (35,499) (34,189) (29,312)
Net cash provided by (used in) financing activities 291,575 131,660 409,507
Net increase in cash and cash equivalents 63,813 44,980 10,552
Cash and cash equivalents at beginning of year 138,455 93,475 82,923
Cash and cash equivalents at end of year 202,268 138,455 93,475
Noncash Activities:      
Loans charged-off 1,317 2,020 1,187
Loans transferred to property acquired through foreclosure or repossession 313 2,000 3,074
Operating lease right-of-use assets 0 28,923 0
Operating lease liabilities 0 30,853 0
Fair value of held-to-maturity securities transferred to available for sale 0 10,316 0
Supplemental Disclosures:      
Interest payments 45,294 64,496 41,285
Income tax payments $ 21,094 $ 19,759 $ 17,148
[1] As reported in the Consolidated Statements of Income.