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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Interest received $ 93,855 $ 89,856
Fees and commissions received 15,690 15,774
Proceeds from sale of loans held for sale 151,014 114,385
Origination of loans held for sale (162,633) (112,553)
Interest paid (13,968) (16,104)
Cash paid to suppliers and employees (49,250) (48,143)
Income taxes paid (10,290) (8,915)
Net cash provided by operating activities 24,418 34,300
Cash flows from investing activities:    
Proceeds from maturities, calls, and principal payments of available-for-sale securities 152,591 53,211
Proceeds from the sale of available-for-sale securities 24,028 37,325
Purchase of available-for-sale securities (324,197) (233,765)
Loans made to customers, net of repayments (202,994) 59,366
Purchase of restricted equity securities (409) (1,668)
Purchase of bank owned life insurance and annuities (4,662) 0
Purchase of premises and equipment (1,734) (3,229)
Proceeds from sale of other real estate 1,311 767
Proceeds from sale of other assets 4 14
Net cash used in investing activities (356,062) (87,979)
Cash flows from financing activities:    
Net increase in non-interest bearing, savings and NOW deposit accounts 429,271 118,383
Net increase (decrease) in time deposits (13,294) 26,628
Net increase (decrease) in Federal Home Loan Bank advances (6,430) 26,413
Escrow payable, net 10,794 1,606
Common stock dividends paid (13,013) (11,725)
Proceeds from sale of common stock pursuant to dividend reinvestment plan 10,056 9,134
Repurchase of common stock 0 (1,629)
Proceeds from exercise of stock options 347 437
Net cash provided by financing activities 417,731 169,247
Net increase in cash and cash equivalents 86,087 115,568
Cash and cash equivalents at beginning of period 159,770 99,191
Cash and cash equivalents at end of period 245,857 214,759
Reconciliation of net earnings to net cash provided by operating activities:    
Net earnings 29,590 28,072
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation, amortization, and accretion 6,256 4,642
Provision for loan losses 6,631 1,354
Loss (gain) on sale of other real estate (652) 48
Loss (gain) on sale of securities (425) 268
Share-based compensation expense 312 265
Loss (gain) on the sale of other assets (2) 3
Loss on the sale of bank premises and equipment 4 2
Increase in derivative liability, net 177 0
Increase in loans held for sale (18,427) (3,299)
Deferred tax benefit (902) (1,017)
Increase in other assets, bank owned life insurance and annuity contract earnings, net (3,891) (3,379)
Decrease (increase) in interest receivable (2,040) 20
Increase in other liabilities 9,980 5,381
Increase (decrease) in taxes payable (1,639) 919
Increase (decrease) in interest payable (554) 1,021
Total adjustments (5,172) 6,228
Net cash provided by operating activities 24,418 34,300
Supplemental schedule of non-cash activities:    
Unrealized gain in value of securities available-for-sale, net of taxes of $2,341 and $2,723 for the nine months ended September 30, 2020 and 2019, respectively 6,615 7,697
Non-cash transfers from loans to other real estate 992 847
Non-cash transfers from other real estate to loans 0 544
Non-cash transfers from loans to other assets $ 5 $ 2