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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net income $ 12,021 $ 20,526
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities:    
Gain on sale of securities, net 0 (31)
Depreciation and amortization of premises and equipment 1,585 1,632
Amortization of software 587 574
Intangible asset amortization 12 18
Amortization of investment security premium, net of discount accretion 347 223
Unrealized loss (gain) on marketable equity securities 1,232 (94)
Deferred tax (benefit) expense 0 958
Stock-based compensation 377 509
Deferred loan fees and amortization, net of costs (3,247) 5,710
Provision (benefit) for credit losses 313 (1,915)
Additions to home mortgage servicing rights carried at fair value (2,115) (3,193)
Change in fair value of home mortgage servicing rights carried at fair value (462) 1,576
Change in fair value of commercial servicing rights carried at fair value 48 76
Gain on sale of loans (8,569) (21,265)
Proceeds from the sale of loans held for sale 353,737 648,901
Origination of loans held for sale (334,598) (587,277)
Gain on sale of other real estate owned 0 (189)
Keyman life insurance proceeds (2,002) 0
Net changes in assets and liabilities:    
(Increase) in accrued interest receivable (1,271) 132
Decrease in other assets 3,324 6,277
(Decrease) in other liabilities (6,010) (4,698)
Net Cash Provided by Operating Activities 15,309 68,450
Investment in securities:    
Purchases of investment securities available for sale (214,703) (173,968)
Purchases of marketable equity securities (1,937) (493)
Purchases of FHLB stock (727) (570)
Purchases of investment securities held to maturity (9,750) (10,000)
Proceeds from sales/calls/maturities of securities available for sale 5,000 82,575
Proceeds from sales of marketable equity securities 0 47
Proceeds from redemption of FHLB stock 10 7
(Increase) decrease in purchased receivables, net (8,290) 1,422
Decrease in loans, net 11,116  
(Increase) in loans, net   (49,921)
Proceeds from sale of other real estate owned 0 679
Proceeds from keyman life insurance 2,002 0
Purchases of software (14) (76)
Purchases of premises and equipment (1,527) (1,732)
Net Cash (Used) by Investing Activities (218,820) (152,030)
Financing Activities:    
(Decrease) increase in deposits (86,241) 321,457
(Decrease) in borrowings (206) (137)
Repurchase of common stock (14,157) (2,212)
Proceeds from the issuance of common stock 0 5
Cash dividends paid (4,789) (4,613)
Net Cash (Used) Provided by Financing Activities (105,393) 314,500
Net Change in Cash and Cash Equivalents (308,904) 230,920
Cash and Cash Equivalents at Beginning of Period 645,827 115,965
Cash and Cash Equivalents at End of Period 336,923 346,885
Supplemental Information:    
Income taxes paid 40 1,852
Interest paid 1,471 2,132
Transfer of loans to other real estate owned 0 274
Non-cash lease liability arising from obtaining right of use assets 0 79
Cash dividends declared but not paid $ 46 $ 45