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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 86,173,000 $ 92,049,000 $ 57,603,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of deferred loan costs, fees and purchased premiums and discounts 6,063,000 2,121,000 (1,464,000)
Net amortization of premiums and discounts on securities 2,771,000 4,482,000 2,508,000
Net amortization of mortgage servicing rights 233,000 266,000 130,000
Amortization of intangible assets 1,980,000 1,025,000 1,048,000
Depreciation and amortization of office properties and equipment 7,317,000 6,718,000 6,543,000
Amortization of operating lease right-of-use assets 3,821,000 3,633,000 2,641,000
Loss on extinguishment of debt 0 2,851,000 1,158,000
Provision for (reversal of) credit losses [1] 5,485,000 (9,953,000) 18,447,000
Gain on securities transactions (210,000) (2,025,000) (370,000)
Change in fair value of equity securities 401,000 1,792,000 (767,000)
Gain on securitizations 0 (2,259,000) (3,544,000)
Gain on sale of loans, net (178,000) (8,531,000) (1,900,000)
Net loss on disposal of office properties and equipment 242,000 95,000 734,000
Loss on write-down of office properties and equipment 0 0 114,000
Loss on write-down of mortgage servicing rights 0 0 75,000
Deferred tax expense 12,769,000 17,709,000 9,738,000
(Increase) decrease in accrued interest receivable (4,689,000) 2,023,000 (6,685,000)
(Increase) in other assets (9,884,000) (22,159,000) (75,127,000)
Increase in accrued expenses and other liabilities 24,998,000 1,926,000 32,891,000
Income on bank-owned life insurance (7,393,000) (5,994,000) (6,620,000)
Employee stock ownership plan expense 4,850,000 4,052,000 3,161,000
Stock based compensation 7,440,000 8,880,000 8,790,000
(Decrease) increase in deferred compensation obligations under Rabbi Trust (31,000) 3,000 (60,000)
Net cash provided by operating activities 142,158,000 98,704,000 49,044,000
Cash flows from investing activities:      
Proceeds from sales of debt securities available for sale 126,772,000 90,339,000 20,761,000
Proceeds from sales of equity securities 0 1,390,000 0
Proceeds from paydown/maturities/calls of debt securities available for sale 281,959,000 368,249,000 247,908,000
Proceeds from paydown/maturities/calls of debt securities held to maturity 31,151,000 36,103,000 48,640,000
Purchases of debt securities available for sale (147,181,000) (667,015,000) (292,809,000)
Purchases of debt securities held to maturity (23,298,000) (203,779,000) (12,815,000)
Purchases of equity securities 0 (91,000) 0
Proceeds from sales of loans held-for-sale 9,639,000 302,039,000 111,764,000
Proceeds from sales of loans receivable 0 0 35,613,000
Purchases of loans receivable (8,315,000) (85,382,000) 0
Net increase in loans receivable (987,753,000) (325,917,000) (80,498,000)
Proceeds from bank-owned life insurance death benefits 1,031,000 5,000 627,000
Proceeds from redemptions of Federal Home Loan Bank stock 77,362,000 28,448,000 50,374,000
Purchases of Federal Home Loan Bank stock (111,429,000) (4,798,000) (22,544,000)
Proceeds from sales of office properties and equipment 1,772,000 1,879,000 0
Additions to office properties and equipment (7,204,000) (5,492,000) (4,624,000)
Net cash acquired in acquisitions 140,769,000 20,417,000 155,248,000
Net cash (used in) provided by investing activities (614,725,000) (443,605,000) 257,645,000
Cash flows from financing activities:      
Net (decrease) increase in deposits (71,789,000) 581,475,000 799,548,000
Proceeds from long-term borrowings 335,893,000 37,120,000 90,000,000
Payments from long-term borrowings (38,725,000) (306,752,000) (343,939,000)
Net increase (decrease) in short-term borrowings 446,808,000 (244,027,000) (376,005,000)
Proceeds from term note 0 29,841,000 0
Payment of subordinated debt 0 0 (16,600,000)
Increase (decrease) in advance payments by borrowers for taxes and insurance 7,648,000 3,406,000 (3,919,000)
Purchase of treasury stock (93,996,000) (107,774,000) (108,166,000)
Exercise of stock options (393,000) (25,000) 0
Restricted stock forfeitures 0 0 (24,000)
Repurchase of shares for taxes (4,614,000) (357,000) (174,000)
Net cash provided by (used in) financing activities 580,832,000 (7,093,000) 40,721,000
Net increase (decrease) in cash and cash equivalents 108,265,000 (351,994,000) 347,410,000
Cash and cash equivalents at beginning of year 70,963,000 422,957,000 75,547,000
Cash and cash equivalents at end of year 179,228,000 70,963,000 422,957,000
Cash paid during the period for:      
Interest on deposits and borrowings 41,077,000 37,906,000 75,557,000
Income tax payments, net of refunds 15,729,000 16,262,000 10,526,000
Non-cash investing and financing activities:      
Transfer of loans receivable to loans held-for-sale 9,461,000 289,362,000 114,171,000
Securitization of loans 0 99,603,000 117,259,000
Initial recognition of operating lease right-of-use asset 0 0 22,218,000
Initial recognition of operating lease liabilities 0 0 23,290,000
Non-cash assets acquired:      
Debt securities available for sale 79,024,000 118,017,000 51,479,000
Debt securities held to maturity 0 0 13,418,000
Equity securities 1,075,000 0 1,796,000
Federal Home Loan Bank stock 906,000 3,032,000 2,010,000
Loans receivable 335,501,000 158,912,000 171,593,000
Accrued interest receivable 910,000 867,000 679,000
Office properties and equipment, net 7,296,000 5,934,000 5,774,000
Bank-owned life insurance 13,033,000 8,661,000 17,245,000
Goodwill and intangibles 9,780,000 42,000 0
Other assets 6,356,000 616,000 7,964,000
Total non-cash assets acquired 453,881,000 296,081,000 271,958,000
Liabilities assumed:      
Deposits 502,732,000 210,117,000 333,234,000
Borrowings 5,762,000 59,908,000 37,728,000
Advance payments by borrowers for taxes and insurance 1,341,000 495,000 982,000
Accrued expenses and other liabilities 10,568,000 4,822,000 5,400,000
Total liabilities assumed 520,403,000 275,342,000 377,344,000
Net non-cash (liabilities assumed) assets acquired (66,522,000) 20,739,000 (105,386,000)
Net cash and cash equivalents acquired in acquisitions $ 140,769,000 $ 20,417,000 $ 155,248,000
[1] (1) The Company adopted ASU 2016-13 as of January 1, 2022. Prior year periods have not been restated.