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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 26,726 $ 27,157
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,240 2,006
Provision for credit losses 2,969 3,928
Stock-based compensation expense 124 953
Deferred compensation expense accrued 1,652 1,272
Gains on other real estate owned, net (52) (85)
Amortization of premiums on securities, net 126 389
Caplet amortization 121 201
Fair value loss on derivatives and trading securities 163 427
Ineffectiveness on fair value hedges 1  
Securities losses, net   463
Loans originated for sale (18,508) (13,353)
Proceeds on sales of loans 20,980 13,766
Gains on sales of residential real estate loans (382) (312)
Gains on sales of government guaranteed portions of loans (24) (30)
Gains on sales and disposals of premises and equipment (2)  
Amortization of intangibles 690 766
Accretion of acquisition fair value adjustments, net (363) (828)
Increase in cash value of bank-owned life insurance (868) (707)
Increase in other assets (9,843) (13,148)
Decrease in other liabilities (23,006) (1,101)
Net cash provided by operating activities 2,744 21,764
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease in federal funds sold 31,300 40,545
Net (increase) decrease in interest-bearing deposits at financial institutions 32,049 (170,272)
Proceeds from sales of other real estate owned 615 218
Activity in securities portfolio:    
Purchases (43,631) (23,022)
Calls, maturities and redemptions 8,498 45,685
Paydowns 5,001 5,915
Sales 445 28,628
Activity in restricted investment securities:    
Purchases (661) (3,177)
Redemptions 10,575 13,764
Net increase in loans/leases originated and held for investment (114,173) (54,025)
Purchase of premises and equipment (12,142) (1,699)
Proceeds from sales of premises and equipment 2  
Net cash used in investing activities (82,122) (117,440)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposit accounts 292,770 517,446
Net increase (decrease) in short-term borrowings 1,200 (128,530)
Activity in Federal Home Loan Bank advances:    
Term advances   135,000
Net change in short-term and overnight advances (230,000) (415,000)
Payment of cash dividends on common stock (1,004) (1,013)
Proceeds from issuance of common stock, net 277 64
Repurchase and cancellation of shares   (7,719)
Net cash provided by financing activities 63,243 100,248
Net increase (decrease) in cash and due from banks (16,135) 4,572
Cash and due from banks, beginning 97,123 59,723
Cash and due from banks, ending 80,988 64,295
Supplemental disclosure of cash flow information, cash payments (receipts) for:    
Interest 59,566 38,053
Income/franchise taxes 56 (299)
Supplemental schedule of noncash investing activities:    
Change in accumulated other comprehensive income (loss), unrealized gains (losses) on securities available for sale and derivative instruments, net (5,374) 9,325
Transfers of loans to other real estate owned   61
Transfer of loans to held for sale (for securitizations) 274,816 139,224
Increase (decrease) in the fair value of back-to-back interest rate swap assets and liabilities (4,816) (46,248)
Dividends payable $ 1,008 1,010
Measurement period adjustment to goodwill   $ 867