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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:          
Net income $ 21,142 $ 17,447 $ 68,691 $ 43,678  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     3,791 4,063  
Deferred taxes     (642) (2,034)  
Stock-based compensation     636 708  
Provision for credit losses (recovery) (163) 2,433 (6,919) 15,091 $ 16,047
Write-downs of other real estate owned and other repossessed assets     637 1,021  
Gains on sale of mortgage loans held for sale (1,239) (2,470) (5,579) (4,706)  
Securities gains     (60) (1,069)  
Change in fair market value of equity securities 62 (119) 10 (259)  
Gains on sale of assets, net     (223) (120)  
Proceeds from sale of mortgage loans held for sale     250,070 224,796  
Funding of mortgage loans held for sale     (233,288) (239,048)  
Amortization of securities premiums and discounts, net     5,977 4,049  
Change in cash surrender value of bank owned life insurance     (1,094) (1,048)  
Payment of operating lease liabilities     (1,271) (1,269)  
Mortgage servicing rights:          
Fair value adjustments     (380) 1,325  
New servicing assets created     (1,817) (1,171)  
Changes in:          
Accrued interest receivable     538 122  
Other assets     4,125 (3,461)  
Accrued interest payable     601 2,340  
Other liabilities     (1,869) (818)  
Net cash provided by operating activities     81,934 42,190  
Securities available-for-sale (AFS):          
Purchase of AFS securities     (795,657) (645,652)  
Proceeds from sales of AFS securities     1,080 82,314  
Proceeds from prepayments, calls, and maturities of AFS securities     243,420 222,385  
Securities held-to-maturity (HTM):          
Proceeds from maturities of HTM securities     0 517  
Change in loans, net     156,259 (314,299)  
Purchase of premises and equipment     (1,171) (766)  
Proceeds from sale and retirement of premises and equipment     830 0  
Proceeds from sale of stock by Federal Home Loan Bank     1,909 351  
Proceeds from sale of other real estate owned and repossessed assets     2,556 2,814  
Additional investment in bank owned life insurance     (17,825) 0  
Net cash used in investing activities     (408,599) (652,336)  
Cash flows from financing activities:          
Change in deposits, net     280,154 488,609  
Change in repurchase agreements and federal funds purchased, net     (63,840) 135,365  
Proceeds from Federal Home Loan Bank advances     0 25,000  
Payments on advances from Federal Home Loan Bank     (15) (25,015)  
Payment of finance lease liabilities     (14) (10)  
Issuance of common stock     719 689  
Repurchase of common stock     0 (1,099)  
Dividends paid     (20,798) (20,308)  
Net cash provided by financing activities     196,206 603,231  
Net decrease in cash and cash equivalents     (130,459) (6,915)  
Cash and cash equivalents at beginning of period     338,235 264,683 264,683
Cash and cash equivalents at end of period $ 207,776 $ 257,768 207,776 257,768 $ 338,235
Supplemental disclosures:          
Income taxes paid     16,885 13,100  
Interest paid     10,948 18,567  
Non-cash activities:          
Loans to facilitate the sale of other real estate owned and repossessed assets     1,095 2,279  
Common stock dividends accrued, paid in subsequent quarter     247 236  
Real estate acquired in settlement of loans     $ 929 $ 2,100