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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 56,573 $ 77,697 $ 38,332
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 8,112 8,049 7,893
Net amortization of premiums on securities 4,970 5,493 3,474
Provision (benefit) for credit losses 13,311 (8,336) 27,184
Share-based compensation 2,551 1,743 1,333
Deferred income tax (benefit) expense (4,382) 5,218 (4,523)
Proceeds from sale of loans held for sale 31,556 81,334 97,238
Originations of loans held for sale (24,677) (80,281) (93,461)
Income on company owned life insurance (5,542) (2,947) (1,902)
Net gain on sale of loans held for sale (1,227) (2,950) (3,858)
Net loss (gain) on investment securities 15 (71) (1,599)
Net loss (gain) on other assets 16 (441) 61
Noncash restructuring charges against assets 1,619 392 202
Increase in other assets (29,902) (9,342) (37,565)
Increase (decrease) in other liabilities 80,580 (2,596) 10,646
Net cash provided by operating activities 133,573 72,962 43,455
Cash flows from investing activities:      
Purchases of available for sale securities (75,269) (784,064) (396,879)
Purchases of held to maturity securities (38,551) (18,425) (7,345)
Proceeds from principal payments, maturities and calls on available for sale securities 122,591 150,919 97,685
Proceeds from principal payments, maturities and calls on held to maturity securities 54,479 83,684 93,046
Proceeds from sales of securities available for sale 6,252 51,891 107,098
Proceeds from sales of securities held to maturity 0 0 52
Net loan originations (376,251) (90,058) (390,932)
Purchases of company owned life insurance, net of proceeds received (35,564) (20,056) (30,051)
Proceeds from surrender of company owned life insurance 25,522    
Proceeds from sales of other assets 0 3,510 519
Purchases of premises and equipment (8,369) (9,403) (4,264)
Cash consideration paid for acquisition, net of cash acquired 0 (1,420) 0
Net cash used in investing activities (325,160) (633,422) (531,071)
Cash flows from financing activities:      
Net increase in deposits 102,334 548,723 722,692
Net increase (decrease) in short-term borrowings 175,000 24,700 (270,200)
Repurchase of preferred stock 0 (43) 0
Issuance of long-term debt 0 0 35,000
Debt issuance costs 0 0 (779)
Purchases of common stock for treasury (15,340) (9,235) (209)
Cash dividends paid to preferred shareholders (1,459) (1,460) (1,461)
Cash dividends paid to common shareholders (17,594) (16,991) (16,496)
Net cash (used in) provided by financing activities 242,941 545,694 468,547
Net (decrease) increase in cash and cash equivalents 51,354 (14,766) (19,069)
Cash and cash equivalents, beginning of period 79,112 93,878 112,947
Cash and cash equivalents, end of period $ 130,466 $ 79,112 $ 93,878