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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 40,331 $ 24,967
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,701 2,690
Provision for credit losses 6,713 28,282
Stock-based compensation expense 1,361 1,064
Deferred compensation expense accrued 2,302 1,705
Gains on other real estate owned, net (389) (369)
Amortization of premiums on securities, net 1,092 557
Caplet amortization 314 234
Mark to market gains on unhedged derivatives, net (91)  
Securities (gains) losses, net 88 (65)
Loans originated for sale (115,649) (98,837)
Proceeds on sales of loans 117,469 96,031
Gains on sales of residential real estate loans (2,521) (1,848)
Loss on liability extinguishment, net   576
Gains on sales of premises and equipment (22) (8)
Amortization of intangibles 1,016 1,097
Accretion of acquisition fair value adjustments, net (795) (1,361)
Increase in cash value of bank-owned life insurance (922) (941)
Goodwill impairment   500
Increase in other assets (14,322) (2,255)
Decrease in other liabilities (5,941) (12,729)
Net cash provided by operating activities 32,735 39,290
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease in federal funds sold 7,740 7,675
Net decrease (increase) in interest-bearing deposits at financial institutions (844) 7,116
Proceeds from sales of other real estate owned 1,407 4,341
Activity in securities portfolio:    
Purchases (108,565) (166,743)
Calls, maturities and redemptions 70,539 11,946
Paydowns 40,395 22,541
Sales 23,874 4,592
Activity in restricted investment securities:    
Purchases (2,280) (4,274)
Redemptions 46 4,317
Net increase in loans/leases originated and held for investment (170,969) (447,385)
Purchase of premises and equipment (4,773) (1,828)
Proceeds from sales of premises and equipment 22 88
Net cash used in investing activities (143,408) (557,614)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposit accounts 89,798 408,849
Net increase in short-term borrowings 1,640 111,395
Activity in Federal Home Loan Bank advances:    
Term advances   85,000
Calls and maturities   (40,000)
Net change in short-term and overnight advances 25,000 (59,300)
Activity in other borrowings:    
Prepayments on brokered and public time deposits   29,359
Prepayments of subordinated notes (5,000)  
Payment of cash dividends on common stock (1,896) (1,884)
Proceeds from issuance of common stock, net 200 1,008
Repurchase and cancellation of shares (4,800) (3,780)
Net cash provided by financing activities 104,942 530,647
Net increase (decrease) in cash and due from banks (5,731) 12,323
Cash and due from banks, beginning 61,329 76,254
Cash and due from banks, ending 55,598 88,577
Supplemental disclosure of cash flow information, cash payments for:    
Interest 12,257 19,377
Income/franchise taxes 21,310 (1,099)
Supplemental schedule of noncash investing activities:    
Change in accumulated other comprehensive income, unrealized gains (losses) on securities available for sale and derivative instruments, net 2,427 (69)
Exchange of shares of common stock in connection with payroll taxes for restricted stock and in connection with stock options exercised   (636)
Transfers of loans to other real estate owned 2,812  
Due to broker for purchases of securities 1,000 4,338
Due from broker for sales of securities   1,735
Increase (decrease) in the fair value of back-to-back interest rate swap assets and liabilities (31,297) 140,048
Dividends payable $ 951 $ 945