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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net income $ 22,146 $ 29,403
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities:    
Gain on sale of securities, net 0 (67)
Depreciation and amortization of premises and equipment 2,361 2,473
Amortization of software 881 868
Intangible asset amortization 19 27
Amortization of investment security premium, net of discount accretion 496 367
Unrealized loss (gain) on marketable equity securities 1,199 (27)
Deferred tax (benefit) expense 0 958
Stock-based compensation 568 741
Deferred loan fees and amortization, net of costs (3,570) 3,128
Benefit for credit losses (40) (3,021)
Additions to home mortgage servicing rights carried at fair value (3,378) (4,896)
Change in fair value of home mortgage servicing rights carried at fair value (607) 3,034
Change in fair value of commercial servicing rights carried at fair value 123 134
Gain on sale of loans (12,306) (29,222)
Proceeds from the sale of loans held for sale 539,984 939,618
Origination of loans held for sale (503,384) (870,442)
Gain on sale of other real estate owned 0 (577)
Keyman life insurance proceeds (2,002) 0
Net changes in assets and liabilities:    
(Increase) decrease in accrued interest receivable (1,649) 433
Decrease in other assets 5,123 5,504
(Decrease) in other liabilities (5,123) (4,515)
Net Cash Provided by Operating Activities 40,841 73,921
Investment in securities:    
Purchases of investment securities available for sale (274,263) (259,016)
Purchases of marketable equity securities (3,933) (493)
Purchases of FHLB stock (728) (571)
Purchases of investment securities held to maturity (16,750) (10,000)
Proceeds from sales/calls/maturities of securities available for sale 7,000 125,092
Proceeds from sales of marketable equity securities 0 1,017
Proceeds from redemption of FHLB stock 15 12
(Increase) decrease in purchased receivables, net 2,202 (6,196)
Decrease in loans, net 11,230  
(Increase) in loans, net   (9,990)
Proceeds from sale of other real estate owned 0 2,228
Proceeds from keyman life insurance 2,002 0
Purchases of software (14) (76)
Purchases of premises and equipment (2,128) (1,981)
Net Cash (Used) by Investing Activities (275,367) (159,974)
Financing Activities:    
Increase in deposits 17,704 471,560
(Decrease) in borrowings (309) (212)
Repurchase of common stock (14,157) (3,416)
Proceeds from the issuance of common stock 0 1,381
Cash dividends paid (7,618) (6,946)
Net Cash (Used) Provided by Financing Activities (4,380) 462,367
Net Change in Cash and Cash Equivalents (238,906) 376,314
Cash and Cash Equivalents at Beginning of Period 645,827 115,965
Cash and Cash Equivalents at End of Period 406,921 492,279
Supplemental Information:    
Income taxes paid 640 4,577
Interest paid 2,678 2,950
Transfer of loans to other real estate owned 0 274
Loans made to facilitate sales of other real estate owned 0 1,012
Non-cash lease liability arising from obtaining right of use assets 0 79
Cash dividends declared but not paid 75 71
Cumulative effect adjustment to retained earnings $ 0 $ 2,400