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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 76,870 $ 69,829 $ 69,118
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses (4,822) 12,342 1,575
Depreciation of premises and equipment 3,411 3,176 3,291
Net amortization of premiums and discounts on securities and loans 3,446 5,720 4,492
Amortization of intangibles 890 914 943
Share–based compensation 3,316 3,766 3,124
Tax (expense) benefit from stock option exercises and other equity awards 182 (103) 248
Deferred income tax expense (benefit) 2,155 (3,130) (1,491)
Income from bank-owned life insurance [1] (2,925) (2,491) (2,354)
Net gains on loan sales, including changes in fair value (28,195) (48,005) (14,332)
Net realized losses on securities [1] 0 0 53
Proceeds from sales of loans, net 934,516 1,117,188 530,713
Loans originated for sale (887,341) (1,114,448) (525,675)
(Increase) decrease in operating lease right-of-use assets 2,829 (2,729) 2,131
Increase (decrease) in operating lease liabilities (2,708) 2,856 (1,992)
Increase in other assets 38,935 (57,730) (27,961)
Increase in other liabilities (39,747) 49,323 31,552
Net cash provided by (used in) operating activities 100,812 36,478 73,435
Cash flows from investing activities:      
Purchases of mortgage-backed securities available for sale (347,913) (369,166) (178,797)
Payments to Acquire Debt Securities, Available-for-sale (251,443) (149,899) (27,520)
Proceeds from Sale of Debt Securities, Available-for-sale 0 0 11,877
Maturities and principal payments of mortgage-backed available for sale debt securities 337,751 351,161 147,620
Maturities and principal payments of other available for sale debt securities 82,800 176,000 108,306
Net redemption (purchases) of Federal Home Loan Bank stock 17,254 20,568 (4,785)
Purchases of other equity investments, net (650) 0 0
Net increase in loans (27,921) (241,418) (154,502)
Purchases of loans (41,863) (51,659) (60,465)
Proceeds from the sale of property acquired through foreclosure or repossession 0 1,392 2,000
Purchases of premises and equipment (3,490) (3,406) (3,132)
Proceeds from sale of premises 0 0 213
Purchases of bank-owned life insurance (7,000) 0 0
Proceeds from bank-owned life insurance 1,526 787 326
Proceeds from sale of equity investment in real estate limited partnership 50 1,400 0
Equity investment in real estate limited partnership 0 0 (1,256)
Net cash provided by (used in) investing activities (240,899) (264,240) (160,115)
Cash flows from financing activities:      
Net increase (decrease) in deposits 601,698 879,471 (25,166)
Proceeds from Federal Home Loan Bank advances 1,294,176 1,988,500 1,982,000
Repayment of Federal Home Loan Bank advances (1,743,036) (2,536,105) (1,791,258)
Proceeds from Payment Protection Program Lending Facility 0 200,628 0
Repayment of Payment Protection Program Lending Facility 0 (200,628) 0
Treasury stock purchased 0 (4,322) 0
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (177) (470) 273
Cash dividends paid (36,349) (35,499) (34,189)
Net cash provided by (used in) financing activities 116,312 291,575 131,660
Net increase in cash and cash equivalents (23,775) 63,813 44,980
Cash and cash equivalents at beginning of year 202,268 138,455 93,475
Cash and cash equivalents at end of year 178,493 202,268 138,455
Noncash Activities:      
Loans charged-off 663 1,317 2,020
Loans transferred to property acquired through foreclosure or repossession 0 313 2,000
Operating lease right-of-use assets 0 0 28,923
Operating lease liabilities 0 0 30,853
Fair value of held-to-maturity securities transferred to available for sale 0 0 10,316
Supplemental Disclosures:      
Interest payments 18,313 45,294 64,496
Income tax payments $ 19,641 $ 21,094 $ 19,759
[1] As reported in the Consolidated Statements of Income.