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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net income $ 15,161 $ 33,969
Reconciliation of net income to net cash provided by operating activities:    
Provision for credit losses and unfunded commitments, net 12,502 2,000
Net security premium amortization 2,351 3,437
(Decrease) increase in net deferred tax asset (1,713) 1,160
Loan discount accretion (3,566) (1,671)
Other purchase accounting amortization and accretion, net 1,227 (172)
Foreclosed property net gains (35) (80)
Other gains, net (244) (1,622)
Bank-owned life insurance income (1,046) (976)
Decrease in net deferred loan fees (127) (776)
Depreciation of premises and equipment 1,923 1,726
Amortization of operating lease right-of-use assets 567 339
Repayments of lease obligations (485) (289)
Stock-based compensation expense 1,118 547
Amortization of intangible assets 2,145 1,017
Amortization and impairment of SBA servicing assets 184 626
Fees/gains from sale of presold mortgages and SBA loans (661) (4,382)
Origination of presold mortgage loans in process of settlement (12,528) (46,488)
Proceeds from sales of presold mortgage loans in process of settlement 11,296 60,860
Origination of SBA loans for sale (8,933) (39,807)
Proceeds from sales of SBA and other loans 4,679 88,895
Decrease in accrued interest receivable 3,707 1,168
Decrease in other assets 8,719 3,509
Increase (decrease) in accrued interest payable 3,872 (31)
Decrease in other liabilities (3,498) (2,816)
Net cash provided by operating activities 36,615 100,143
Cash Flows From Investing Activities    
Purchases of securities available for sale 0 (330,147)
Purchases of securities held to maturity 0 (36,089)
Proceeds from maturities/issuer calls of securities available for sale 58,856 91,421
Proceeds from maturities/issuer calls of securities held to maturity 759 2,684
Proceeds from sales of securities available for sale 111,863 0
Purchases of Federal Reserve and FHLB stock, net (27,859) (9,818)
Proceeds from bank owned life insurance death benefits 0 3,595
Net (increase) decrease in loans (133,712) 29,927
Proceeds from sales of foreclosed properties 192 520
Purchases of premises and equipment (346) (1,217)
Proceeds from sales of premises and equipment 15 99
Net cash received in acquisition activities 22,610 0
Net cash provided (used) by investing activities 32,378 (249,025)
Cash Flows From Financing Activities    
Net increase in deposits 98,742 260,752
Net increase in short-term borrowings 280,000 0
Payments on long-term borrowings (34) (33)
Cash dividends paid – common stock (7,852) (7,123)
Proceeds from stock option exercises 3,215 0
Payment of taxes related to stock withheld 0 (117)
Net cash provided by financing activities 374,071 253,479
Increase in cash and cash equivalents 443,064 104,597
Cash and cash equivalents, beginning of period 270,318 461,162
Cash and cash equivalents, end of period 713,382 565,759
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 19,333 2,422
Cash paid during the period for income taxes 46 0
Non-cash: Unrealized gain (loss) on securities available for sale, net of taxes 27,908 (140,019)
Non-cash: Foreclosed loans transferred to other real estate 288 119
Non-cash: Accrued dividends at end of period $ 9,010 $ 7,839