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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 37,931 $ 32,941
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (2,000) 9,236
Depreciation of premises and equipment 1,667 1,557
Net amortization of premiums and discounts on securities and loans 2,356 2,716
Amortization of intangibles 451 460
Share-based compensation 1,882 1,613
Tax benefit (expense) from stock option exercises and other equity awards 127 (77)
Income from bank-owned life insurance [1] (1,163) (1,355)
Net gains on loan sales, including fair value adjustments (17,876) (21,074)
Proceeds from sales of loans, net 535,722 447,859
Loans originated for sale (492,461) (451,539)
(Increase) decrease in operating lease right-of-use assets 1,192 (230)
Increase (decrease) in operating lease liabilities (1,159) 264
(Increase) decrease in other assets 26,859 (67,028)
Increase (decrease) in other liabilities (34,102) 59,577
Net cash provided by (used in) operating activities 59,426 14,920
Cash flows from investing activities:    
Purchases of mortgage-backed securities available for sale (227,131) (149,481)
Purchases of other investment securities available for sale (174,669) (98,500)
Maturities, calls and principal payments of mortgage-backed securities available for sale 206,479 120,745
Maturities, calls and principal payments of other investment securities available for sale 20,500 100,500
Net redemption (purchases) of Federal Home Loan Bank stock 7,528 836
Net (increase) decrease in loans (56,094) (336,489)
Purchases of loans (40,881) (51,081)
Proceeds from the sale of property acquired through foreclosure or repossession 0 1,107
Purchases of premises and equipment (1,828) (925)
Purchases of bank-owned life insurance (7,000) 0
Proceeds from surrender of bank-owned life insurance 0 787
Net cash provided by (used in) investing activities (273,096) (412,501)
Cash flows from financing activities:    
Net increase (decrease) in deposits 347,306 602,554
Proceeds from Federal Home Loan Bank advances 1,009,000 1,346,999
Repayment of Federal Home Loan Bank advances (1,194,267) (1,483,412)
Proceeds from Payment Protection Program Lending Facility 0 38,900
Treasury stock purchased 0 (4,322)
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (165) (418)
Cash dividends paid (18,266) (17,835)
Net cash provided by (used in) financing activities 143,608 482,466
Net increase (decrease) in cash and cash equivalents (70,062) 84,885
Cash and cash equivalents at beginning of period 202,268 138,455
Cash and cash equivalents at end of period 132,206 223,340
Noncash Activities:    
Loans charged off 381 961
Loans transferred to property acquired through foreclosure or repossession 0 28
Supplemental Disclosures:    
Interest payments 10,798 27,257
Income tax payments $ 9,966 $ 8,234
[1] As reported in the Consolidated Statements of Income.