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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 74,627 $ 59,313 $ 73,612
Proceeds from sales of loans held for sale 351,391 317,173 131,014
Originations of loans held for sale (332,289) (316,125) (135,937)
Items not requiring (providing) cash      
Depreciation 9,555 10,007 9,557
Amortization 1,583 2,075 2,068
Compensation expense for stock option grants 1,225 1,153 922
Provision (credit) for credit losses (6,700) 15,871 6,150
Provision for unfunded commitments 939 0 0
Net gain on loan sales (9,463) (8,089) (2,607)
Net realized (gain) loss on available-for-sale securities 0 (78) 62
Loss (gain) on sale of premises and equipment (1) (37) 77
Loss (gain) on sale/write-down of other real estate and repossessions (71) 840 316
Accretion of deferred income, premiums, discounts and other (10,262) (6,147) (3,899)
Loss (gain) on derivative interest rate products (312) 264 104
Deferred income taxes 3,712 (11,480) 1,074
Changes in:      
Interest receivable 2,088 362 (82)
Prepaid expenses and other assets 3,257 (17,163) (1,336)
Accrued expenses and other liabilities (2,495) (612) 2,725
Income taxes refundable/payable (1,808) (1,279) 2,599
Net cash provided by operating activities 84,976 46,048 86,419
Investing Activities      
Net change in loans 448,599 (62,493) (81,320)
Purchase of loans (152,797) (92,099) (97,162)
Cash received for termination of interest rate derivative 0 45,864 0
Purchase of premises and equipment (5,739) (8,224) (11,789)
Proceeds from sale of premises and equipment 586 781 204
Proceeds from sale of other real estate and repossessions 2,230 4,096 15,244
Capitalized costs on other real estate owned 0 (126) (121)
Proceeds from sale of available-for-sale securities 0 19,236 53,695
Proceeds from maturities, calls and repayments of available-for-sale securities 72,149 76,248 34,769
Purchase of available-for-sale securities (177,466) (118,296) (207,634)
Redemption (purchase) of Federal Home Loan Bank stock and other interest-earning assets 3,151 3,667 (1,035)
Net cash provided by (used in) investing activities 190,713 (131,346) (295,149)
Financing Activities      
Net increase (decrease) in certificates of deposit (429,723) (330,306) 129,748
Net increase in checking and savings deposits 464,921 887,114 105,400
Net increase (decrease) in shortterm borrowings and other interest-bearing liabilities (26,737) (146,632) 14,346
Advances from (to) borrowers for taxes and insurance (1,389) 52 2,392
Proceeds from issuance of subordinated notes 0 73,513 0
Redemption of subordinated notes (75,000) 0 0
Dividends paid (18,800) (33,426) (29,052)
Purchase of the Company's common stock (39,123) (22,104) (849)
Stock options exercised 3,700 661 4,158
Net cash provided by (used in) financing activities (122,151) 428,872 226,143
Increase in Cash and Cash Equivalents 153,538 343,574 17,413
Cash and Cash Equivalents, Beginning of Year 563,729 220,155 202,742
Cash and Cash Equivalents, End of Year $ 717,267 $ 563,729 $ 220,155