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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:      
Net income $ 34,428 $ 43,526 $ 30,045
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for (recovery of) loan losses 1,597 (2,825) 8,916
Depreciation 2,246 2,243 2,188
Net accretion of acquisition accounting adjustments (1,597) (5,236) (3,812)
Amortization of intangible assets 1,260 1,464 1,637
Net amortization of securities 1,646 1,846 1,186
Net gain on sale or call of securities available for sale 0 (35) (814)
Gain on sale of loans held for sale (1,666) (4,195) (3,514)
Proceeds from sales of loans held for sale 70,059 154,041 155,705
Originations of loans held for sale (60,973) (142,736) (165,755)
Net (gain) loss on other real estate owned (2) 111 (4)
Net loss on sale, write-down or disposal of premises and equipment 228 885 110
Equity based compensation expense 1,492 1,432 1,451
Earnings on bank owned life insurance (585) (625) (665)
Deferred income tax (benefit) expense (385) 808 (640)
Net change in other assets (2,484) 245 (3,421)
Net change in other liabilities 2,677 146 (2,387)
Net cash provided by operating activities 47,941 51,095 20,226
Cash Flows from Investing Activities:      
Proceeds from sales of securities available for sale 0 561 5,811
Proceeds from maturities, calls and paydowns of securities available for sale 120,052 192,672 208,429
Purchases of securities available for sale (106,170) (433,690) (295,109)
Net change in restricted stock (4,595) 659 (85)
Proceeds from sales of purchased credit impaired loans 0 0 4,939
Net decrease (increase) in loans (238,993) 73,836 (186,635)
Net change in collateral with other financial institutions 3,200 1,700 (2,300)
Proceeds from sale of premises and equipment 4 2,031 1
Purchases of premises and equipment (1,196) (1,000) (2,694)
Proceeds from sales of other real estate owned 118 704 195
Net cash used in investing activities (227,580) (162,527) (267,448)
Cash Flows from Financing Activities:      
Net change in noninterest-bearing deposits 1,521 178,987 251,488
Net change in interest-bearing deposits (295,496) 100,114 299,476
Net change in customer repurchase agreements (40,758) (1,423) 2,076
Net change in short-term borrowings 100,531 0 0
Net change in long-term borrowings 0 (7,500) 0
Common stock dividends paid (12,144) (11,827) (11,842)
Repurchase of common stock (7,505) (8,810) (4,981)
Proceeds from exercise of stock options 12 89 43
Net cash (used in) provided by financing activities (253,839) 249,630 536,260
Net (Decrease) Increase in Cash and Cash Equivalents (433,478) 138,198 289,038
Cash and Cash Equivalents at Beginning of Period 506,818 368,620 79,582
Cash and Cash Equivalents at End of Period $ 73,340 $ 506,818 $ 368,620