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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 71,681 $ 76,870 $ 69,829
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses (1,300) (4,822) 12,342
Depreciation of premises and equipment 3,465 3,411 3,176
Net amortization of premiums and discounts on securities and loans 2,893 3,446 5,720
Amortization of intangibles 860 890 914
Share–based compensation 3,247 3,316 3,766
Tax (expense) benefit from stock option exercises and other equity awards 78 182 (103)
Deferred income tax expense (benefit) 1,160 2,155 (3,130)
Income from bank-owned life insurance [1] (2,591) (2,925) (2,491)
Net gains on loan sales, including changes in fair value (6,730) (28,195) (48,005)
Proceeds from sales of loans, net 309,749 934,516 1,117,188
Loans originated for sale (272,855) (887,341) (1,114,448)
(Increase) decrease in operating lease right-of-use assets (464) 2,829 (2,729)
Increase (decrease) in operating lease liabilities 547 (2,708) 2,856
(Increase) decrease in other assets (30,804) 38,935 (57,730)
Increase (decrease) in other liabilities 34,070 (39,747) 49,323
Net cash provided by (used in) operating activities 113,006 100,812 36,478
Cash flows from investing activities:      
Purchases of mortgage-backed available for sale debt securities (223,380) (347,913) (369,166)
Purchases of other available for sale debt securities (10,747) (251,443) (149,899)
Maturities and principal payments of mortgage-backed available for sale debt securities 116,116 337,751 351,161
Maturities and principal payments of other available for sale debt securities 0 82,800 176,000
Net (purchases) redemptions of Federal Home Loan Bank stock (30,432) 17,254 20,568
Purchases of other equity investments, net (375) (650) 0
Net increase in loans (832,450) (27,921) (241,418)
Purchases of loans (2,773) (41,863) (51,659)
Proceeds from the sale of property acquired through foreclosure or repossession 0 0 1,392
Purchases of premises and equipment (6,139) (3,490) (3,406)
Purchases of bank-owned life insurance (7,000) (7,000) 0
Proceeds from bank-owned life insurance 0 1,526 787
Proceeds from sale of equity investment in real estate limited partnership 0 50 1,400
Equity investment in real estate limited partnership (1,861) 0 0
Net cash provided by (used in) investing activities (999,041) (240,899) (264,240)
Cash flows from financing activities:      
Net increase in deposits 38,911 601,698 879,471
Proceeds from Federal Home Loan Bank advances 3,156,112 1,294,176 1,988,500
Repayment of Federal Home Loan Bank advances (2,321,112) (1,743,036) (2,536,105)
Proceeds from Payment Protection Program Lending Facility 0 0 200,628
Repayment of Payment Protection Program Lending Facility 0 0 (200,628)
Treasury stock purchased (9,479) 0 (4,322)
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (821) (177) (470)
Cash dividends paid (37,647) (36,349) (35,499)
Net cash provided by (used in) financing activities 825,964 116,312 291,575
Net increase (decrease) in cash and cash equivalents (60,071) (23,775) 63,813
Cash and cash equivalents at beginning of year 178,493 202,268 138,455
Cash and cash equivalents at end of year 118,422 178,493 202,268
Noncash Activities:      
Loans charged-off 184 663 1,317
Loans transferred to property acquired through foreclosure or repossession 0 0 313
Commitment for equity investments in real estate limited partnerships 8,360 0 0
Supplemental Disclosures:      
Interest payments 32,096 18,313 45,294
Income tax payments $ 17,706 $ 19,641 $ 21,094
[1] As reported in the Consolidated Statements of Income.