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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net Income $ 27,477,000 $ 25,037,000
Adjustments to reconcile net income to net cash (used by) provided by operating activities:    
Originations of mortgage loans held for sale (86,351,000) (101,749,000)
Proceeds from the sale of mortgage loans 79,575,000 99,778,000
Gain on sale of mortgage loans, net of origination costs (1,998,000) (2,550,000)
Provision for credit losses 1,917,000 486,000
Depreciation and amortization expense 1,901,000 1,907,000
Investment securities amortization and accretion, net 1,371,000 1,559,000
Stock-based compensation expense 935,000 1,011,000
Amortization of intangible assets 352,000 362,000
Purchase accounting accretion, net (817,000) (1,031,000)
Increase in other assets (24,895,000) (3,699,000)
(Decrease) increase in other liabilities (5,774,000) 10,065,000
Net cash (used by) provided by operating activities (6,307,000) 31,176,000
Investing Activities    
Proceeds from sales and maturities of available-for-sale securities 115,715,000 73,264,000
Purchase of available-for-sale securities (98,755,000) (100,615,000)
Proceeds from maturities of held-to-maturity securities 0 750,000
Net increase in loans (74,556,000) (85,274,000)
Purchase of Federal Home Loan Bank stock (3,656,000) (8,450,000)
Proceeds from sale of Federal Home Loan Bank stock 6,706,000 6,550,000
Purchase of premises and equipment 1,896,000 1,695,000
Proceeds from the sale of premises and equipment 0 749,000
Proceeds from other investments 0 205,000
Recoveries of previously charged-off loans 133,000 199,000
Proceeds from the sale of other real estate owned 554,000 0
Net cash used by investing activities (55,755,000) (114,317,000)
Financing Activities    
Net increase in deposits 127,169,000 55,703,000
Net (repayments of) proceeds from borrowings less than 90 days (29,221,000) 49,830,000
Common stock repurchase (6,997,000) 0
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings (241,000) (421,000)
Cash dividends paid on common stock 9,358,000 7,796,000
Finance lease payments (53,000) 0
Net cash provided by financing activities 81,299,000 97,316,000
Net increase in cash, cash equivalents and restricted cash 19,237,000 14,175,000
Cash, cash equivalents, and restricted cash at beginning of period 66,999,000 102,971,000
Cash, cash equivalents and restricted cash at end of period 86,236,000 117,146,000
Supplemental information    
Interest paid 20,214,000 13,707,000
Income taxes paid 5,351,000 5,176,000
Payments for Repurchase of Common Stock, Unsettled $ 111,000 $ 0