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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES      
Consolidated net income $ 53,020,000 $ 49,426,000 $ 38,492,000
Adjustments to reconcile consolidated net income to net cash provided by operating activities      
Provision for credit losses 7,642,000 1,405,000 9,955,000
Deferred income taxes provision (2,051,000) (932,000) (3,304,000)
Depreciation and amortization of premises and equipment 4,462,000 4,235,000 4,250,000
Loss (gain) on disposal of premises and equipment (291,000) 43,000 63,000
Net amortization of securities 4,003,000 5,377,000 4,588,000
Net realized losses (gains) on sales of securities 1,620,000 (28,000) (882,000)
Gains on mortgage loans sold, net (2,973,000) (9,997,000) (9,560,000)
Stock-based compensation expense 1,864,000 1,428,000 1,180,000
Loss (gain) on other real estate 0 15,000 (658,000)
Loss (gain) on sale of other assets (8,000) (6,000) 4,000
Increase in value of life insurance and annuity contracts (1,345,000) (1,109,000) (959,000)
Mortgage loans originated for resale (106,601,000) (215,813,000) (213,483,000)
Proceeds from sale of mortgage loans 118,062,000 233,441,000 221,748,000
Gain on lease modification 0 0 (29,000)
Right of use asset amortization 397,000 387,000 376,000
Change in      
Accrued interest receivable (3,756,000) (125,000) (1,571,000)
Other assets 248,000 (4,458,000) (805,000)
Accrued interest payable 1,516,000 (1,458,000) (763,000)
Other liabilities (2,602,000) (383,000) 1,596,000
TOTAL ADJUSTMENTS 20,187,000 12,022,000 11,746,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 73,207,000 61,448,000 50,238,000
INVESTING ACTIVITIES      
Purchases (200,075,000) (530,155,000) (409,996,000)
Sales 42,728,000 39,652,000 54,870,000
Maturities, prepayments and calls 85,544,000 149,861,000 200,785,000
Redemptions (purchases) of restricted equity securities 732,000 0 (409,000)
Net increase in loans (673,871,000) (164,095,000) (236,411,000)
Purchase of buildings, leasehold improvements, and equipment (5,022,000) (8,922,000) (2,220,000)
Proceeds from sale of premises and equipment 1,758,000 0 0
Proceeds from sale of other assets 34,000 109,000 9,000
Proceeds from sale of other real estate 0 167,000 2,307,000
Purchase of life insurance and annuity contracts (10,978,000) (15,079,000) (6,687,000)
Redemption of annuity contracts 248,000 0 0
Increase in other investments 0 (2,000,000) 0
NET CASH USED IN INVESTING ACTIVITIES (758,902,000) (530,462,000) (397,752,000)
FINANCING ACTIVITIES      
Net change in deposits - non-maturing 163,933,000 612,696,000 563,605,000
Net change in deposits - time 173,701,000 (18,220,000) (20,615,000)
Net change in Federal Home Loan Bank Advances 0 (3,638,000) (19,975,000)
Change in escrow balances 3,549,000 (4,403,000) 5,824,000
Repayment of finance lease obligation (26,000) 0 0
Noncontrolling interest contributions 37,000 0 0
Issuance of common stock related to exercise of stock options 635,000 862,000 718,000
Issuance of common stock pursuant to dividend reinvestment plan 16,117,000 11,188,000 10,056,000
Cash dividends paid on common stock (20,880,000) (14,909,000) (13,013,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 337,066,000 583,576,000 526,600,000
NET CHANGE IN CASH AND CASH EQUIVALENTS (348,629,000) 114,562,000 179,086,000
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 453,418,000 338,856,000 159,770,000
CASH AND CASH EQUIVALENTS - END OF YEAR 104,789,000 453,418,000 338,856,000
Supplemental disclosure of cash flow information:      
Interest 14,617,000 12,106,000 18,146,000
Taxes 19,446,000 16,827,000 13,156,000
Non-cash investing and financing activities:      
Change in fair value of securities available-for-sale, net of taxes of $36,838 in 2022, $4,771 in 2021, and $(2,291) in 2020 (104,115,000) (13,480,000) 6,472,000
Non-cash transfers from loans to other real estate 0 182,000 992,000
Non-cash transfers from other real estate to loans 0 0 40,000
Non-cash transfers from loans to other assets $ 0 $ 129,000 $ 14,000