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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 24,068 $ 36,440
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,500 (2,900)
Depreciation of premises and equipment 1,979 1,670
Net amortization of premiums and discounts on securities and loans 707 1,846
Amortization of intangibles 424 433
Share-based compensation 945 1,613
Tax benefit (expense) from stock option exercises and other equity awards (5) 64
Income from bank-owned life insurance [1] (2,044) (1,216)
Net gains on loan sales, including changes in fair value (1,871) (4,672)
Proceeds from sales of loans, net 86,762 195,358
Loans originated for sale (97,701) (173,983)
(Increase) decrease in operating lease right-of-use assets (1,477) (1,406)
Increase (decrease) in operating lease liabilities 1,744 1,481
(Increase) decrease in other assets (23,820) (3,346)
Increase (decrease) in other liabilities (1,113) 218
Net cash provided by (used in) operating activities (9,902) 51,600
Cash flows from investing activities:    
Purchases of mortgage-backed securities available for sale (39,967) (156,859)
Purchases of other debt securities available for sale (20,221) (10,250)
Maturities, calls and principal payments of mortgage-backed securities available for sale 35,133 74,666
Maturities, calls and principal payments of other debt securities available for sale 250 0
Net redemption (purchases) of Federal Home Loan Bank stock (2,405) (3,269)
Purchases of other equity investments (188) (375)
Net (increase) decrease in loans (267,157) (203,926)
Purchases of loans (3,653) (1,362)
Purchases of premises and equipment (3,020) (2,481)
Purchases of bank-owned life insurance 0 (7,000)
Proceeds from surrender of bank-owned life insurance 1,566 0
Equity investment in real estate limited partnership (7,167) (1,861)
Net cash provided by (used in) investing activities (306,829) (312,717)
Cash flows from financing activities:    
Net increase (decrease) in deposits 295,516 26,578
Proceeds from Federal Home Loan Bank advances 1,985,000 780,000
Repayments of Federal Home Loan Bank advances (1,925,000) (597,000)
Purchases of treasury stock (8,741) (8,583)
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (638) (723)
Cash dividends paid (19,512) (19,025)
Net cash provided by (used in) financing activities 326,625 181,247
Net increase (decrease) in cash and cash equivalents 9,894 (79,870)
Cash and cash equivalents at beginning of period 118,422 178,493
Cash and cash equivalents at end of period 128,316 98,623
Noncash Activities:    
Loans charged off 113 59
Loans transferred to property acquired through foreclosure or repossession 683 0
Commitment for equity investment in real estate limited partnership 3,967 8,360
Supplemental Disclosures:    
Interest payments 64,691 7,637
Income tax payments $ 4,446 $ 7,611
[1] As reported in the Unaudited Consolidated Statements of Income.