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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net income $ 50,582,000 $ 24,243,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs (3,101,000) 11,887,000
Depreciation and amortization 1,811,000 1,661,000
Amortization of intangible assets 447,000 526,000
Amortization of operating lease right-of-use assets 1,368,000 1,328,000
(Benefit) provision for credit losses [1] (8,601,000) 18,223,000
Loans originated for sale (32,063,000) (36,273,000)
Proceeds from sales of loans held for sale 33,897,000 36,348,000
Gains on investment securities transactions, net (9,000) (342,000)
Change in fair value of equity securities 133,000 455,000
Gains on sales of loans held for sale (1,315,000) (1,125,000)
Gains on other real estate and other repossessed assets (8,000) (60,000)
Losses on sales of premises and equipment (4,000) 52,000
Impairment of property held for sale 400,000 0
Long-term debt prepayment penalty 0 356,000
Stock-based compensation 2,196,000 1,461,000
Excess tax deficiencies (93,000) (113,000)
Decrease (increase) in other assets 27,361,000 (80,951,000)
(Decrease) increase in other liabilities (26,867,000) 80,263,000
Net Cash Provided by Operating Activities 46,134,000 57,939,000
Cash Flows from Investing Activities:    
Proceeds from repayments and maturities of available for sale securities 114,301,000 367,843,000
Proceeds from repayments and maturities of held to maturity securities 22,227,000 13,847,000
Proceeds from sales of available for sale securities 0 94,696,000
Purchase of available for sale securities (259,654,000) (507,234,000)
Purchase of held to maturity securities (26,203,000) 0
Purchase of equity securities (879,000) (1,164,000)
Proceeds from redemptions of Federal Home Loan Bank stock 13,524,000 83,660,000
Purchases of Federal Home Loan Bank stock (10,755,000) (80,143,000)
Net decrease (increase) in loans 23,010,000 (627,545,000)
Proceeds from sales of loans held for investment 15,031,000 0
Proceeds from sales of other real estate and repossessed assets 8,000 662,000
Proceeds from dispositions and sales of premises and equipment 123,000 (21,000)
Purchases of premises and equipment (2,630,000) (3,528,000)
Net Cash Used in Investing Activities (111,897,000) (658,927,000)
Cash Flows from Financing Activities:    
Net increase in deposits 259,277,000 831,869,000
Decrease in federal funds purchased and securities sold under agreements to repurchase (69,370,000) (145,542,000)
Proceeds from other borrowings 0 25,000,000
Repayments of other borrowings 0 (35,456,000)
Purchase of treasury stock 0 (1,452,000)
Repayments of subordinated debt (5,000,000) 0
Exercise of stock options 19,000 0
Retirement of restricted stock (656,000) (467,000)
Dividends paid (13,197,000) (12,728,000)
Net Cash Provided by Financing Activities 171,073,000 661,224,000
Net increase in cash and cash equivalents 105,310,000 60,236,000
Cash and cash equivalents, beginning of period 270,090,000 282,371,000
Cash and cash equivalents, end of period 375,400,000 342,607,000
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 16,274,000 12,786,000
Cash paid during the period for interest 13,141,000 24,601,000
Transfer of loans to loans held for sale 15,111,000 0
Transfer of loans to other real estate owned 0 393,000
Right-of-use asset obtained in exchange for new operating lease liabilities $ 109,000 $ 548,000
[1] The Company adopted ASU 2016-13 as of December 31, 2020. Prior year periods have not been restated.