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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities:      
Consolidated Net Income $ 71,043 $ 54,255 $ 52,136
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Provision for Credit Losses 4,483 10,886 8,047
Depreciation and Amortization 4,670 4,818 4,163
Net Accretion of Purchase Accounting Adjustments (7,615) (7,949) (7,122)
Stock Based Compensation Cost 3,999 3,696 2,861
Net Amortization of Securities 4,197 6,005 7,021
(Gain) Loss on Sales of Securities 2,565 48 (378)
Gain on Sale Loans (671) (398) (9,179)
Income on Other Equity Securities (3,045) (1,554) (2,399)
(Gain) Loss on Sale of Other Real Estate Owned, Net of Writedowns (214) 92 1,404
Increase in Cash Value of Life Insurance (2,247) (1,931) (1,396)
Deferred Income Tax Expense (Benefit) (2,052) (1,368) 586
Gain on Sale of Branch (945) 0 (492)
Changes in Assets and Liabilities:      
(Increase) Decrease in Accrued Interest Receivable (4,250) (3,466) 4,298
(Increase) Decrease in Other Assets (1,683) 6,075 (3,500)
Increase (Decrease) in Accrued Interest Payable 12,749 519 (1,145)
Increase (Decrease) in Other Liabilities 11,443 (151) 1,538
Net Cash Provided by Operating Activities 92,427 69,577 56,443
Cash Flows From Investing Activities:      
Purchases of Securities Available for Sale (131,038) (102,809) (528,059)
Proceeds from Maturities / Sales of Securities Available for Sale 91,981 38,951 29,945
Proceeds from Paydowns of Securities Available for Sale 53,916 95,019 96,408
Net Cash Received (Paid) in Acquisition 0 163,460 (7,256)
Net Cash Paid in Sale of Branch (14,506) 0 (13,727)
Purchases of Other Equity Securities (15,573) (22,670) (4,438)
Redemption of Other Equity Securities 21,361 10,327 2,575
Purchase of Life Insurance (2,273) (18,000) (15,928)
Proceeds from Death Benefit of Cash Value of Life Insurance 0 499 1,974
Proceeds from Sale of SBA PPP Loans 0 0 243,607
Net Increase in Loans (379,073) (1,070,354) (431,236)
Net Purchases of Premises and Equipment (11,648) (7,781) (3,971)
Loss on Disposal of Premises and Equipment 0 717 4
Proceeds from Sales of Other Real Estate 1,240 682 7,640
Net (Increase) Decrease in Federal Funds Sold (135,528) 211,438 (52,892)
Net Cash Used in Investing Activities (521,141) (700,521) (675,354)
Cash Flows From Financing Activities:      
Net Increase in Deposits 444,780 265,827 480,124
Net Increase (Decrease) in Securities Sold Under Agreements to Repurchase (1,323) 1,087 (2,704)
Net Increase (Decrease) in Federal Funds Purchased (14,057) 14,057 0
Net Advances (Repayments) on Federal Home Loan Bank Borrowings (198,902) 327,203 39,022
Net Proceeds on Bank Term Funding Program 300,000 0 0
Net Proceeds (Repayments) from Short Term Borrowings 0 (11) (5,000)
Net Repayments from Long Term Borrowings 0 0 (6,000)
Proceeds from Issuance of Subordinated Debt 0 0 52,500
Repayment of Subordinated Debt (8,900) 0 0
Gain on Extinguishment of Debt (1,458) 0 0
Proceeds from Issuance of Preferred Stock, Net of Issuance Costs 0 71,930 0
Proceeds from Issuance of Common Stock, Net of Issuance Costs 0 48,492 3,564
Surrendered Shares of Options Exercised 0 (1,102) (2,992)
Repurchase of Common Stock 0 0 (10,923)
Payment of Dividends on Preferred Stock (5,401) (1,350) 0
Payment of Dividends on Common Stock (12,655) (10,824) (9,436)
Net Cash Provided by Financing Activities 502,084 715,309 538,155
Net Increase (Decrease) in Cash and Cash Equivalents 73,370 84,365 (80,756)
Cash and Cash Equivalents at Beginning of Period 152,740 68,375 149,131
Cash and Cash Equivalents at End of Period 226,110 152,740 68,375
Supplemental Disclosures for Cash Flow Information:      
Interest on Deposits 104,811 23,846 13,249
Interest on Borrowings 20,638 11,953 4,450
Income Tax Payments 16,095 13,550 15,711
Supplemental Schedule for Noncash Investing and Financing Activities:      
Change in the Unrealized Gain (Loss) on Securities Available for Sale 10,441 (93,466) (14,607)
Change in the Unrealized Gain (Loss) on Equity Securities (782) 874 (336)
Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale and Equity Securities (2,040) 19,565 3,138
Transfer of Loans to Other Real Estate 1,339 719 1,420
Acquisitions:      
Fair Value of Tangible Assets Acquired 0 531,510 1,343
Other Intangible Assets Acquired 0 3,875 4,300
Liabilities Assumed 0 508,991 6
Net Identifiable Assets Acquired Over Liabilities Assumed 0 26,394 5,637
Subordinated Debt Issued as Part of Consideration of Smith Shellnut Wilson $ 0 $ 0 $ 3,927