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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 38,982 $ 28,071
Proceeds from sales of loans held for sale 189,430 121,921
Originations of loans held for sale (184,625) (128,939)
Items not requiring (providing) cash:    
Depreciation 4,766 4,982
Amortization 989 847
Compensation expense for stock option grants 597 558
Provision (credit) for credit losses on loans (700) 9,871
Provision (credit) for unfunded commitments (981)  
Net gains on loan sales (5,301) (2,430)
Net realized gains on sales of available-for-sale securities   (78)
Net (gains) losses on sale of premises and equipment 1 (24)
Net (gains) losses on sale/write-down of other real estate owned and repossessions (86) 111
Accretion of deferred income, premiums, discounts and other (4,731) (2,548)
Loss (gain) on derivative interest rate products (295) 514
Deferred income taxes 492 (29,501)
Changes in:    
Interest receivable 827 (1,604)
Prepaid expenses and other assets 11,031 17,023
Accrued expenses and other liabilities 885 1,878
Income taxes refundable/payable 3,506 14,755
Net cash provided by (used in) investing activities 54,787 35,407
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in loans 129,451 (251,662)
Purchase of loans and loan participations (52,071) (3,625)
Purchase of premises and equipment (2,281) (3,669)
Proceeds from sale of premises and equipment 65 372
Proceeds from sale of other real estate and repossessions 1,536 2,011
Capitalized costs on other real estate owned   (126)
Proceeds from termination of interest rate derivative   45,864
Proceeds from sales of available-for-sale securities   19,236
Proceeds from maturities and calls of available-for-sale securities 5,830 13,850
Principal reductions on mortgage-backed securities 28,807 11,172
Purchase of available-for-sale securities (80,904) (95,145)
Redemption of Federal Home Loan Bank stock and change in other interest-earning assets 3,051 2,197
Net cash provided by (used in) investing activities 33,484 (259,525)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net decrease in certificates of deposit (231,587) (13,958)
Net increase in checking and savings deposits 281,037 566,021
Net decrease in short-term borrowings (6,142) (119,421)
Advances from borrowers for taxes and insurance 1,192 3,245
Proceeds from issuance of subordinated notes   73,513
Dividends paid (9,332) (23,903)
Purchase of the Company's common stock (7,460) (8,148)
Stock options exercised 2,096 259
Net cash provided by financing activities 29,804 477,608
INCREASES IN CASH AND CASH EQUIVALENTS 118,075 253,490
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 563,729 220,155
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 681,804 $ 473,645