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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net income $ 23,175 $ 12,392
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs (1,497) 1,109
Depreciation and amortization 1,040 855
Amortization of intangible assets 226 265
Amortization of operating lease right-of-use assets 682 661
Provision for credit losses (1) [1] (2,642) 9,223
Loans originated for sale (16,905) (14,634)
Proceeds from sales of loans held for sale 17,718 13,694
Gains on sales of securities 0 (342)
Change in market value of equity securities 144 653
Gains on sales of loans held for sale (708) (415)
(Gains) losses on other real estate and other repossessed assets 0 (86)
Losses on sales of premises and equipment 0 14
Long-term debt prepayment penalty 0 356
Stock-based compensation 1,206 847
Excess tax deficiencies (88) (113)
Decrease (increase) in other assets 26,337 (64,307)
(Decrease) increase in other liabilities (18,687) 64,225
Net Cash Provided by Operating Activities 30,001 24,397
Cash Flows from Investing Activities:    
Proceeds from repayments and maturities of available for sale securities 55,314 70,134
Proceeds from repayments and maturities of held to maturity securities 9,561 8,076
Proceeds from sales of available for sale securities 0 94,696
Purchase of available for sale securities (188,321) (213,062)
Purchase of held to maturity securities (3,968) 0
Purchase of equity securities (40) (1,082)
Proceeds from redemptions of Federal Home Loan Bank stock 11,251 41,450
Purchases of Federal Home Loan Bank stock (10,044) (47,520)
Net increase in loans (84,897) (191,014)
Proceeds from sales of other real estate and repossessed assets 0 649
Purchases of premises and equipment (1,714) (1,605)
Net Cash Used in Investing Activities (212,858) (239,278)
Cash Flows from Financing Activities:    
Net increase in deposits 179,458 161,448
(Decrease) increase in federal funds purchased and securities sold under agreements to repurchase (57,561) 90,427
Repayments of other borrowings 0 (25,456)
Purchase of treasury stock 0 (1,452)
Exercise of stock options 13 0
Retirement of restricted stock (656) (457)
Dividends paid (6,369) (6,364)
Net Cash Provided by Financing Activities 114,885 218,146
Net (decrease) increase in cash and cash equivalents (67,972) 3,265
Cash and cash equivalents, beginning of period 270,090 282,371
Cash and cash equivalents, end of period 202,118 285,636
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 9,035 368
Cash paid during the period for interest 8,273 12,973
Transfer of loans into other repossessed assets and other real estate owned 0 393
Right-of-use asset obtained in exchange for new operating lease liabilities $ 109 $ 0
[1] The Company adopted ASU 2016-13 as of December 31, 2020. Prior year periods have not been restated.