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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Interest received $ 126,194 $ 121,366 $ 105,318
Fees and other income received 21,284 21,185 20,503
Proceeds from sales of loans 221,748 157,028 131,321
Origination of loans held for sale (213,483) (160,921) (129,060)
Interest paid (18,146) (21,966) (12,565)
Cash paid to suppliers and employees (75,082) (69,412) (64,351)
Income taxes paid (12,106) (10,934) (10,558)
Net cash provided by operating activities 50,409 36,346 40,608
Cash flows from investing activities:      
Purchase of available-for-sale securities (409,996) (255,432) (9,118)
Proceeds from calls, maturities and paydowns of available-for-sale securities 200,785 90,805 36,955
Proceeds from sale of available-for-sale securities 54,870 37,325 35,093
Purchase of restricted equity securities (409) (1,668) 0
Proceeds from maturities and paydowns of held-to-maturity securities 0 0 4,651
Proceeds from sale of held-to-maturity securities 0 0 4,764
Loans made to customers, net of repayments (236,402) (43,568) (293,655)
Purchase of bank owned life insurance and annuity contracts (6,867) 0 (4,301)
Purchase of premises and equipment (2,220) (6,044) (7,752)
Proceeds from sale of other assets 9 14 4
Proceeds from sale of other real estate 2,307 952 796
Net cash used in investing activities (397,923) (177,616) (232,563)
Cash flows from financing activities:      
Net increase in non-interest bearing, savings, NOW and money market deposit accounts 563,605 163,720 101,248
Net increase (decrease) in time deposits (20,615) 18,230 96,662
Net decrease in securities sold under agreements to repurchase 0 0 (864)
Net increase (decrease) in Federal Home Loan Bank advances (19,975) 23,613 0
Escrow payable, net 5,824 (269) 165
Common stock dividends paid (13,013) (11,725) (9,447)
Proceeds from sale of common stock pursuant to dividend reinvestment 10,056 9,134 7,470
Proceeds from sale of common stock pursuant to exercise of stock options 718 775 394
Repurchase of common stock 0 (1,629) 0
Net cash provided by financing activities 526,600 201,849 195,628
Net increase in cash and cash equivalents 179,086 60,579 3,673
Cash and cash equivalents at beginning of year 159,770 99,191 95,518
Cash and cash equivalents at end of year 338,856 159,770 99,191
Reconciliation of net earnings to net cash provided by operating activities:      
Net earnings 38,492 36,044 32,594
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation, amortization and accretion 8,838 6,494 5,853
Provision for loan losses 9,696 2,040 4,298
Equity-based compensation expense 1,180 786 1,237
Provision for deferred tax benefit (3,304) (478) (248)
Loss (gain) on sales of other real estate, net (658) 48 80
Loss on sales of other assets 4 4 3
Loss on sales of premises and equipment 63 128 2
Security loss (gain) (882) 268 650
Increase in derivative liability, net 209 0 0
Increase in loans held for sale (1,295) (10,695) (2,378)
Increase (decrease) in taxes payable 756 339 (1,526)
Increase in other assets, bank owned life insurance and annuity contract earnings (3,023) (194) (1,684)
Decrease (increase) in accrued interest receivable (1,571) 779 (458)
Increase (decrease) in interest payable (763) 682 1,453
Increase in other liabilities 2,667 101 732
Total adjustments 11,917 302 8,014
Net cash provided by operating activities 50,409 36,346 40,608
Supplemental Schedule of Non-Cash Activities:      
Change in fair value of securities available-for-sale, net of taxes of $2,291 in 2020, $2,971 in 2019, and $1,228 in 2018 6,472 8,398 (3,470)
Non-cash transfers from held-to-maturity to available-for-sale securities 0 0 22,800
Non-cash transfers from loans to other real estate 992 884 693
Non-cash transfers from other real estate to loans 40 544 95
Non-cash transfers from loans to other assets $ 5 $ 18 $ 7