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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 38,776 $ 35,211
Proceeds from sales of loans held for sale 72,658 49,626
Originations of loans held for sale (77,429) (40,209)
Items not requiring (providing) cash:    
Depreciation 4,438 4,291
Amortization 335 542
Compensation expense for stock option grants 796 702
Provision for credit losses on loans 1,500  
Provision (credit) for unfunded commitments (2,445) 2,030
Net gain on loan sales (1,098) (1,632)
Net (gain) loss on sale of premises and equipment 18 (1,054)
Net (gain) loss on sale/write-down of other real estate owned and repossessions 63 (120)
Net gain on sale of available-for-sale investments   (7)
Accretion of deferred income, premiums, discounts and other (2,791) (2,686)
(Gain) loss on derivative interest rate products 289 (297)
Deferred income taxes 244 (1,422)
Changes in:    
Interest receivable 1,929 (2,853)
Prepaid expenses and other assets (12,075) (13,250)
Accrued expenses and other liabilities 21,916 3,923
Income taxes refundable/payable 504 3,990
Net cash provided by operating activities 47,628 36,785
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in loans (7,932) (200,386)
Purchase of loans (400) (152,615)
Purchase of premises and equipment (4,217) (10,911)
Proceeds from sale of premises and equipment 55 3,811
Proceeds from sale of other real estate owned and repossessions 225 2,049
Proceeds from sale of available-for-sale securities   4,936
Proceeds from maturities and calls of available-for-sale securities 1,015 750
Principal reductions on mortgage-backed securities 17,072 48,050
Purchase of available-for-sale securities   (336,183)
Purchase of Federal Home Loan Bank stock and change in other interest-earning assets (1,944) (6,709)
Net cash provided by (used in) investing activities 3,874 (647,208)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in certificates of deposit 67,374 54,262
Net increase (decrease) in checking and savings deposits 72,630 (90,158)
Net increase (decrease) in short-term borrowings (135,059) 178,772
Advances from borrowers for taxes and insurance 2,752 2,727
Dividends paid (9,746) (9,325)
Purchase of the Company's common stock (14,289) (50,381)
Stock options exercised 255 2,967
Net cash provided by (used in) financing activities (16,083) 88,864
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 35,419 (521,559)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 168,520 717,267
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 203,939 $ 195,708