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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 9,244 $ 14,278
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 1,010 (2,085)
Depreciation and amortization 1,698 1,705
Accretion and amortization 991 1,063
Other gains, net (79) 358
Net gain on sales of loans (2,918) (7,493)
Proceeds from sales of loans held for sale 101,266 288,280
Loans originated for sale (88,664) (235,129)
Deferred income tax expense 47 2,620
Earnings on bank-owned life insurance (300) (296)
Stock-based compensation 525 528
Change in valuation of mortgage servicing rights 1,950 (4,475)
Net change in:    
Accrued interest receivable and other assets 609 1,995
Accrued expenses and other liabilities (4) 9,267
Net cash provided by operating activities 25,375 70,616
Activity in securities available for sale:    
Purchases 0 (132,412)
Maturities, prepayments, and calls 10,811 17,618
Loan originations and principal collections, net (41,634) (16,660)
Purchases of premises and equipment (1,560) (1,316)
Proceeds from sales of premises and equipment 642 39
Proceeds from sales of foreclosed assets 412 133
Net cash used in investing activities (31,329) (132,598)
Cash flows from financing activities:    
Net change in deposits 101,624 108,935
Payments to tax authorities for stock-based compensation (343) (195)
Cash dividends paid on common stock (2,208) (1,950)
Payments to repurchase common stock 0 (3,017)
Net cash provided by financing activities 99,073 103,773
Net change in cash and cash equivalents 93,119 41,791
Beginning cash and cash equivalents 234,883 486,821
Ending cash and cash equivalents 328,002 528,612
Supplemental disclosures of cash flow information:    
Interest paid on deposits and borrowed funds 13,215 3,553
Income taxes paid 0 0
Supplemental schedule of noncash activities:    
Loans transferred to foreclosed assets 445 242
Additions to mortgage servicing rights $ 271 $ 1,250