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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 36,440 $ 37,931
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (2,900) (2,000)
Depreciation of premises and equipment 1,670 1,667
Net amortization of premiums and discounts on securities and loans 1,846 2,356
Amortization of intangibles 433 451
Share-based compensation 1,613 1,882
Tax benefit (expense) from stock option exercises and other equity awards 64 127
Income from bank-owned life insurance [1] (1,216) (1,163)
Net gains on loan sales, including changes in fair value (4,672) (17,876)
Proceeds from sales of loans, net 195,358 535,722
Loans originated for sale (173,983) (492,461)
(Increase) decrease in operating lease right-of-use assets (1,406) 1,192
Increase (decrease) in operating lease liabilities 1,481 (1,159)
(Increase) decrease in other assets (3,346) 26,859
Increase (decrease) in other liabilities 218 (34,102)
Net cash provided by (used in) operating activities 51,600 59,426
Cash flows from investing activities:    
Purchases of mortgage-backed securities available for sale (156,859) (227,131)
Purchases of other debt securities available for sale (10,250) (174,669)
Maturities, calls and principal payments of mortgage-backed securities available for sale 74,666 206,479
Maturities, calls and principal payments of other debt securities available for sale 0 20,500
Net redemption (purchases) of Federal Home Loan Bank stock (3,269) 7,528
Purchases of other equity investments (375) 0
Net (increase) decrease in loans (203,926) (56,094)
Purchases of loans (1,362) (40,881)
Purchases of premises and equipment (2,481) (1,828)
Purchases of bank-owned life insurance (7,000) (7,000)
Equity investment in real estate limited partnership (1,861) 0
Net cash provided by (used in) investing activities (312,717) (273,096)
Cash flows from financing activities:    
Net increase (decrease) in deposits 26,578 347,306
Proceeds from Federal Home Loan Bank advances 780,000 1,009,000
Repayment of Federal Home Loan Bank advances (597,000) (1,194,267)
Treasury stock purchased (8,583) 0
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (723) (165)
Cash dividends paid (19,025) (18,266)
Net cash provided by (used in) financing activities 181,247 143,608
Net increase (decrease) in cash and cash equivalents (79,870) (70,062)
Cash and cash equivalents at beginning of period 178,493 202,268
Cash and cash equivalents at end of period 98,623 132,206
Noncash Activities:    
Loans charged off 59 381
Commitment for equity investment in real estate limited partnership 8,360 0
Supplemental Disclosures:    
Interest payments 7,637 10,798
Income tax payments $ 7,611 $ 9,966
[1] As reported in the Unaudited Consolidated Statements of Income.