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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 26,546 $ 33,391
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of securities (1,032) (11)
Loss (gain) on disposal of fixed assets 6 (146)
Gain on sale on foreclosed assets (8) (141)
Writedowns on foreclosed assets 91 174
Stock based compensation expense 958 681
Provision (benefit) for credit losses on loans and leases 4,360 (2,450)
Provision for credit losses on held-to-maturity securities 18  
Depreciation and amortization 1,910 2,585
Net amortization on securities premiums and discounts 2,934 3,654
Net accretion of premiums/discounts for loans acquired (149) (365)
Decrease (increase) in cash surrender value of life insurance policies 1,251 (2,445)
Amortization of core deposit intangible 758 779
Increase in interest receivable and other assets (18,017) (497)
Decrease in other liabilities 15,506 46,587
Deferred income tax benefit (2,397) (2,702)
Decrease (increase) in value of restricted bank equity securities 332 (857)
Net amortization of partnership investment 338 503
Net cash provided by operating activities 33,405 78,740
Cash flows from investing activities:    
Maturities and calls of securities available for sale 7,663 5,800
Proceeds from sales of securities available for sale 26,408 148
Purchases of securities available for sale (450,984) (288,552)
Principal pay downs on securities available for sale 60,198 85,767
Net purchases of FHLB stock (336) (1,666)
Loan originations and payments, net (36,286) 323,351
Purchases of premises and equipment (899) (345)
Proceeds from sale premises and equipment   1,055
Proceeds from sales of foreclosed assets 10 938
Purchase of bank-owned life insurance (19) (39)
Liquidation of bank-owned life insurance 11  
Proceeds from BOLI death benefit 859  
Amortization of debt issuance costs 55  
Net increase in partnership investment (7,562)  
Net cash (used in) provided by investing activities (400,882) 126,457
Cash flows from financing activities:    
Increase in deposits 103,896 196,040
Increase (decrease) in borrowed funds 103,100 (142,900)
Increase in customer repurchase agreements 5,075 53,415
Cash dividends paid (10,449) (9,842)
Repurchases of common stock (5,108) (292)
Stock options exercised 118 94
Proceeds from issuance of subordinated debt   49,221
Net cash provided by financing activities 196,632 145,736
(Decrease) increase in cash and cash equivalents (170,845) 350,933
Cash and cash equivalents, Beginning of period 257,528 71,417
Cash and cash equivalents, End of period 86,683 422,350
Cash paid during the year for:    
Interest paid 5,958 2,702
Income taxes paid $ 8,946 11,769
Supplemental noncash disclosures:    
Real estate acquired through foreclosure   $ 93