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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities:      
Net income $ 30,741 $ 37,517 $ 32,888
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Gain on sale of securities, net 0 (67) (98)
Loss on sale of premises and equipment 0 0 22
Depreciation and amortization of premises 3,139 3,276 3,147
Amortization of software 1,164 1,161 1,104
Intangible asset amortization 25 37 48
Amortization of investment security premium, net of discount accretion 630 529 19
Unrealized loss (gain) on marketable equity securities 1,119 101 (61)
Deferred tax (income) expense 2,110 (1,298) 555
Stock-based compensation 742 1,073 943
Deferral of loan fees and amortization, net of costs (2,933) (192) 6,650
Provision (benefit) for credit losses 1,846 (4,099) 2,432
Benefit for purchased receivables 0 0 (21)
Additions to home mortgage servicing rights carried at fair value (4,623) (6,088) (4,824)
Change in fair value of home mortgage servicing rights carried at fair value (288) 3,582 5,526
Change in fair value of commercial servicing rights carried at fair value (809) 437 99
Gain on sale of loans (13,873) (36,436) (46,258)
Proceeds from the sale of loans held for sale 645,518 1,227,150 1,263,325
Origination of loans held for sale (585,533) (1,118,186) (1,295,411)
Loss (gain) on sale of other real estate owned 414 (685) (391)
Net changes in assets and liabilities:      
(Increase) decrease in accrued interest receivable (3,091) 1,133 (3,467)
Decrease (increase) in other assets 5,528 12,739 (15,096)
(Decrease) increase in other liabilities (3,703) (9,695) 12,415
Net Cash Provided (Used) by Operating Activities 78,123 111,989 (36,454)
Investment in securities:      
Purchases of investment securities available for sale (302,668) (320,501) (160,423)
Purchases of marketable equity securities (3,934) (493) (1,552)
Purchases of FHLB stock (730) (573) (5,931)
Purchases of investment securities held to maturity (16,750) (10,000) (10,000)
Proceeds from sales/calls/maturities of securities available for sale 13,417 135,365 189,323
Proceeds from sales of marketable equity securities 488 1,084 601
Proceeds from redemption of FHLB stock 21 17 5,518
(Increase) decrease in purchased receivables, net (13,007) 6,935 10,472
Decrease in loans, net   28,975  
Increase in loans, net (83,839)   (408,365)
Proceeds from sale of other real estate owned 5,224 2,610 797
Purchases of software (51) (170) (416)
Purchases of premises and equipment (3,796) (2,338) (2,849)
Net Cash (Used) Provided by Investing Activities (405,625) (159,089) (382,825)
Financing Activities:      
Increase in deposits (34,420) 596,650 452,630
Proceeds from borrowings 0 0 110,610
Repayments of borrowings (413) (309) (104,684)
Proceeds from the issuance of common stock 586 1,543 84
Repurchase of common stock (14,157) (11,534) (9,976)
Cash dividends paid (10,571) (9,388) (8,844)
Net Cash (Used) Provided by Financing Activities (58,975) 576,962 439,820
Net Change in Cash and Cash Equivalents (386,477) 529,862 20,541
Cash and Cash Equivalents at Beginning of Year 645,827 115,965 95,424
Cash and Cash Equivalents at End of Year 259,350 645,827 115,965
Supplemental Information:      
Income taxes paid 2,015 6,380 7,790
Interest paid 5,190 3,813 6,009
Transfer of loans to other real estate owned 0 274 652
Loans made to facilitate sales of other real estate owned 0 1,012 0
Non-cash lease liability arising from obtaining right of use assets 1,128 79 370
Cash dividends declared but not paid 85 92 98
Cumulative effect adjustment to retained earnings $ 0 $ 2,400 $ (139)