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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 12,812 $ 16,483
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 800 100
Depreciation of premises and equipment 975 838
Net amortization of premiums and discounts on securities and loans 324 966
Amortization of intangibles 212 217
Share-based compensation 858 888
Tax benefit (expense) from stock option exercises and other equity awards (1) 10
Income from bank-owned life insurance [1] (1,165) (601)
Net gains on loan sales, including changes in fair value (662) (3,085)
Proceeds from sales of loans, net 25,378 122,165
Loans originated for sale (23,394) (95,644)
(Increase) decrease in operating lease right-of-use assets 986 (2,124)
Increase (decrease) in operating lease liabilities (936) 2,160
(Increase) decrease in other assets (4,917) 21,289
Increase (decrease) in other liabilities (176) (25,100)
Net cash provided by (used in) operating activities 11,094 38,562
Cash flows from investing activities:    
Purchases of mortgage-backed securities available for sale (39,966) (74,919)
Purchases of other debt securities available for sale (20,221) (250)
Maturities, calls and principal payments of mortgage-backed securities available for sale 16,136 43,334
Maturities, calls and principal payments of other debt securities available for sale 250 0
Net redemption (purchases) of Federal Home Loan Bank stock 962 4,579
Purchases of other equity investments 0 (188)
Net (increase) decrease in loans (116,609) (8,700)
Purchases of loans (1,709) (465)
Purchases of premises and equipment (1,144) (834)
Proceeds from surrender of bank-owned life insurance 1,566 0
Equity investment in real estate limited partnership (6,632) 0
Net cash provided by (used in) investing activities (167,367) (37,443)
Cash flows from financing activities:    
Net increase (decrease) in deposits 249,552 147,899
Proceeds from Federal Home Loan Bank advances 1,005,000 197,000
Repayment of Federal Home Loan Bank advances (1,060,000) (287,000)
Treasury stock purchased (8,741) 0
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (31) (19)
Cash dividends paid (9,649) (9,396)
Net cash provided by (used in) financing activities 176,131 48,484
Net increase (decrease) in cash and cash equivalents 19,858 49,603
Cash and cash equivalents at beginning of period 118,422 178,493
Cash and cash equivalents at end of period 138,280 228,096
Noncash Activities:    
Loans charged off 61 36
Loans transferred to property acquired through foreclosure or repossession 683 0
Commitment for equity investment in real estate limited partnership 1,728 0
Supplemental Disclosures:    
Interest payments 27,585 3,458
Income tax payments $ 936 $ 931
[1] As reported in the Unaudited Consolidated Statements of Income.