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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 66,067 $ 55,517 $ 38,043
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan and lease losses 1,000 2,705 2,550
Depreciation, amortization and accretion, net 4,880 5,782 13,640
Deferred income tax (benefit) expense (5,852) (268) 3,971
Loss on sale of securities available for sale 0 0 232
Gain on other investment activities 0 (113) (92)
Gain on sales of mortgage loans held for sale (1,907) (1,443) (1,989)
Origination of mortgage loans held for sale (108,020) (71,807) (97,623)
Proceeds from sale of mortgage loans held for sale 102,854 74,539 99,861
Bank owned life insurance income [1] (1,031) (1,129) (1,159)
Loss on the disposal of premises and equipment 372 56 0
Loss (gain) on the sale of other real estate owned 7 (102) (39)
Stock compensation expense 3,578 4,027 2,892
Excess tax benefits from share-based compensation arrangements (812) (549) (1,463)
Net change in accrued interest receivable and other assets (2,786) (582) (13,848)
Net change in accrued interest payable and other liabilities 85 (744) 8,700
Net cash provided by operating activities 58,436 65,889 53,676
Investing activities:      
Purchases of securities available for sale (702,441) (768,407) (661,086)
Proceeds from sales of securities available for sale 12,427 0 421
Proceeds from maturities and paydowns of securities available for sale 678,039 901,512 652,411
Purchase of Federal Home Loan Bank stock 0 (2,724) (2,254)
Proceeds from redemption of Federal Home Loan Bank stock 591 0 955
Proceeds from redemption of acquired Federal Reserve Bank stock 490 0 0
Proceeds from redemption of interest bearing due from banks 1,761 0 0
Net change in loans (131,734) (137,835) (105,867)
Purchases of premises and equipment (5,098) (7,057) (2,786)
Proceeds from sales of premises and equipment 2,907 230 0
Proceeds from surrender of acquired bank owned life insurance 3,431 0 0
Proceeds from bank owned life insurance mortality benefit 1,878 0 977
Other investment activities (2,766) (1,184) 92
Proceeds from sales of other real estate owned 2,028 3,895 2,432
Cash for acquisition, net of cash acquired (24,686) 0 0
Net cash used in investing activities (163,173) (11,570) (114,705)
Financing activities:      
Net change in deposits 213,913 216,061 57,747
Net change in securities sold under agreements to repurchase and federal funds purchased (5,125) (185,484) 116,856
Proceeds from Federal Home Loan Bank advances 120,000 120,000 120,000
Repayments of Federal Home Loan Bank advances (131,726) (121,281) (121,617)
Repayment of acquired bank holding company line of credit (2,300) 0 0
Redemption of acquired bank subordinated debentures (3,609) 0 0
Repurchase of common stock (11,817) (2,004) (2,389)
Share repurchases related to compensation plans (272) (154) (216)
Cash dividends paid (23,542) (21,766) (18,077)
Net cash provided by financing activities 155,522 5,372 152,304
Net change in cash and cash equivalents 50,785 59,691 91,275
Cash and cash equivalents at beginning of period 198,939 139,248 47,973
Cash and cash equivalents at end of period 249,724 198,939 139,248
Supplemental cash flow information:      
Income tax payments, net of refunds 13,938 7,227 15,838
Cash paid for interest 22,666 14,827 7,158
Supplemental non-cash activity:      
Initial recognition of right-of-use lease assets 16,747 0 0
Initial recognition operating lease liabilities 18,067 0 0
Loans purchased and not settled 0 4,992 0
Transfers from loans to real estate acquired in settlement of loans 1,160 2,170 0
Fair value of assets acquired 204,613 0 0
Cash paid in acquisition 28,000 0 0
Liabilities assumed $ 176,613 $ 0 $ 0
[1] Outside of the scope of ASC 606