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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities:    
Net income $ 29,403 $ 22,788
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities:    
Gain on sale of securities, net (67) (98)
Loss on disposal of premises and equipment 0 22
Depreciation and amortization of premises and equipment 2,473 2,337
Amortization of software 868 821
Intangible asset amortization 27 36
Amortization of investment security premium, net of discount accretion 367 (24)
Unrealized (gain) loss on marketable equity securities (27) 347
Deferred tax expense (benefit) 587 (477)
Stock-based compensation 741 717
Deferred loan fees and amortization, net of costs 3,128 9,399
(Benefit) provision for credit losses (3,021) 3,031
(Benefit) provision for purchased receivables 0 (7)
Additions to home mortgage servicing rights carried at fair value (4,896) (3,032)
Change in fair value of home mortgage servicing rights carried at fair value 3,034 4,363
Change in fair value of commercial servicing rights carried at fair value 134 180
Gain on sale of loans (29,222) (30,701)
Proceeds from the sale of loans held for sale 939,618 883,899
Origination of loans held for sale (870,442) (913,469)
Gain on sale of other real estate owned (577) (176)
Net changes in assets and liabilities:    
Decrease (increase) in accrued interest receivable 433 (3,512)
(Increase) decrease in other assets 5,875 (6,443)
Increase (decrease) in other liabilities (3,139) 2,980
Net Cash Provided (Used) by Operating Activities 75,297 (27,019)
Investment in securities:    
Purchases of investment securities available for sale (259,016) (89,173)
Purchases of marketable equity securities (493) (1,439)
Purchases of FHLB stock (571) (5,884)
Purchases of investment securities held to maturity (10,000) 0
Proceeds from sales/calls/maturities of securities available for sale 125,092 150,544
Proceeds from sales of marketable equity securities 1,017 502
Proceeds from redemption of FHLB stock 12 5,514
(Increase) decrease in purchased receivables, net (6,196) 10,860
Increase in loans, net (9,990) (459,346)
Proceeds from sale of other real estate owned 2,228 419
Purchases of software (76) (96)
Purchases of premises and equipment (1,981) (2,552)
Net Cash (Used) by Investing Activities (159,974) (390,651)
Financing Activities:    
Increase in deposits 471,560 433,782
(Decrease) in borrowings (212)  
Increase in borrowings   4,846
Repurchase of common stock (3,416) (8,676)
Proceeds from the issuance of common stock 5 8
Cash dividends paid (6,946) (6,585)
Net Cash Provided by Financing Activities 460,991 423,375
Net Change in Cash and Cash Equivalents 376,314 5,705
Cash and Cash Equivalents at Beginning of Period 115,965 95,424
Cash and Cash Equivalents at End of Period 492,279 101,129
Supplemental Information:    
Income taxes paid 4,577 1,940
Interest paid 2,950 4,580
Transfer of loans to other real estate owned 274 162
Loans made to facilitate sales of other real estate owned 1,012 0
Non-cash lease liability arising from obtaining right of use assets 79 370
Cash dividends declared but not paid $ 71 $ 73