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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Operating activities          
Net income $ 15,477,000 $ 13,380,000 $ 30,094,000 $ 25,836,000  
Adjustments to reconcile net income to net cash from Operating activities:          
Depreciation and amortization of premises and equipment     1,346,000 980,000  
Net accretion of securities, loans, deposits, and other     (209,000) (369,000)  
Unrealized loss on equity securities 0 35,000 0 55,000  
Amortization of investment in affordable housing tax credits     510,000 519,000  
Amortization of intangible assets     2,249,000 3,411,000  
Amortization of right-of-use asset     2,586,000 2,618,000  
Change in operating lease liabilities     (2,523,000) (2,512,000)  
Provision for loan losses 915,000 628,000 1,281,000 2,128,000 $ 3,959,000
Stock-based compensation     406,000 602,000  
Deferred tax (benefit) expense     (417,000) 203,000  
Gain on sale of loans (344,000) (2,572,000) (1,518,000) (6,413,000)  
Gain on sale of fixed assets     (757,000) 0  
Increase in cash surrender value of life insurance     (654,000) (404,000)  
Loans originated and purchased for sale, net     (32,739,000) (108,425,000)  
Proceeds from loans sold     50,014,000 216,770,000  
Other items     (4,174,000) (2,672,000)  
Net cash provided by operating activities     45,495,000 132,327,000  
Investing activities          
Purchases     (315,434,000) (372,303,000)  
Maturities, prepayments and calls     305,355,000 242,162,000  
Securities held to maturity:          
Maturities, prepayments and calls     500,000 500,000  
Purchase of other equity securities, net     (171,000) (43,000)  
Redemption of Federal Home Loan Bank stock     0 641,000  
Net increase of investment in qualified affordable housing projects     (3,000) (453,000)  
Net increase in loans     (117,356,000) (64,521,000)  
Purchase of bank owned life insurance     0 (19,800,000)  
Net cash received in connection with a branch purchase     71,352,000 0  
Proceeds from sale of fixed assets     757,000 0  
Purchases of premises and equipment     (1,215,000) (895,000)  
Net cash used in investing activities     (56,215,000) (214,712,000)  
Financing activities          
Net (decrease) increase in demand deposits and savings accounts     (387,475,000) 450,349,000  
Net decrease in time deposits     (52,056,000) (15,436,000)  
Advances on short-term FHLB advances     220,000,000 0  
Repays of short-term FHLB Advances     (120,000,000) 0  
Cash dividends paid     (5,411,000) (4,887,000)  
Redemption of subordinated debentures     0 (50,000,000)  
Issuance of subordinated debentures, net of issuance costs     0 118,111,000  
Common stock repurchased, net of repurchased costs     (16,829,000) (7,559,000)  
Exercise of stock options 2,500,000 467,000 2,855,000 806,000  
Net cash (used in) provided by financing activities     (358,916,000) 491,384,000  
Net (decrease) increase in cash and cash equivalents     (369,636,000) 408,999,000  
Cash and cash equivalents at beginning of period     694,372,000 194,654,000 194,654,000
Cash and cash equivalents at end of period $ 324,736,000 $ 603,653,000 324,736,000 603,653,000 $ 694,372,000
Cash paid during the period:          
Interest paid     10,407,000 11,357,000  
Taxes paid     15,077,000 15,100,000  
Non-cash investing and financing activities:          
Loans transfer to held for sale, net     9,800,000 61,215,000  
Additions to servicing assets     632,000 1,416,000  
Net change in unrealized holding gain on securities available for sale     (20,367,000) (1,368,000)  
Recognition of operating lease right-of-use assets     (6,063,000) (27,668,000)  
Recognition of operating lease liabilities     $ 6,063,000 $ 27,668,000