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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net income $ 73,792,000 $ 72,871,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs 4,264,000 (4,157,000)
Depreciation and amortization 4,071,000 3,973,000
Amortization of intangible assets 1,770,000 658,000
Amortization of operating lease right-of-use assets 3,098,000 2,072,000
Provision for credit losses (benefit) 11,274,000 (11,304,000)
Loans originated for sale (53,280,000) (44,372,000)
Proceeds from sales of loans held for sale 61,449,000 46,721,000
Gains on investment securities transactions, net 0 (9,000)
Loss on equity securities 1,313,000 191,000
Income on bank owned life insurance (2,376,000) (1,922,000)
Gains on proceeds from bank owned life insurance policies (742,000) 0
Gains on sales of loans held for sale (2,496,000) (1,865,000)
Gains on other real estate and other repossessed assets (17,000) (17,000)
Loss (gains) on sales of premises and equipment 218,000 (41,000)
Impairment of property held for sale 100,000 400,000
Long-term debt extinguishment costs 0 831,000
Stock-based compensation 3,807,000 3,154,000
Excess Tax Deficiencies (Benefits) 62,000 (93,000)
(Increase) decrease in other assets (68,258,000) 30,945,000
Increase (decrease) in other liabilities 60,647,000 (27,653,000)
Net Cash Provided by Operating Activities 98,696,000 70,383,000
Cash Flows from Investing Activities:    
Net cash acquired in acquisitions 326,236,000 0
Proceeds from repayments and maturities of available for sale securities 111,966,000 145,249,000
Proceeds from repayments and maturities of held to maturity securities 108,875,000 38,432,000
Proceeds from sales of available for sale securities 0 4,402,000
Purchase of available for sale securities (312,904,000) (329,351,000)
Purchase of held to maturity securities (99,249,000) (148,684,000)
Purchase of equity securities (1,125,000) (1,919,000)
Death benefit proceeds from bank owned life insurance policy 1,825,000 0
Proceeds from redemptions of Federal Home Loan Bank stock 42,900,000 13,524,000
Purchases of Federal Home Loan Bank stock (53,650,000) (10,885,000)
Net (increase) decrease in loans (487,444,000) 128,284,000
Proceeds from sales of loans previously held for investment 0 21,765,000
Proceeds from sales of other real estate and repossessed assets 17,000 17,000
Proceeds from dispositions and sales of premises and equipment 598,000 676,000
Purchases of premises and equipment (3,726,000) (3,422,000)
Net Cash Used in Investing Activities (365,681,000) (141,912,000)
Cash Flows from Financing Activities:    
Net increase in deposits 61,788,000 475,161,000
Increase (decrease) in federal funds purchased and securities sold under agreements to repurchase 251,334,000 (57,653,000)
Net proceeds from issuance of subordinated debt 0 148,195,000
Redemption of subordinated debt 0 (80,831,000)
Exercise of stock options 0 19,000
Retirement of restricted stock (1,075,000) (620,000)
Dividends paid (27,829,000) (20,197,000)
Net Cash Provided by Financing Activities 284,218,000 464,074,000
Net increase in cash and cash equivalents 17,233,000 392,545,000
Cash and cash equivalents, beginning of period 228,530,000 270,090,000
Cash and cash equivalents, end of period 245,763,000 662,635,000
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 24,829,000 22,964,000
Cash paid during the period for interest 28,163,000 19,559,000
Transfer of available for sale debt securities to held to maturity securities at fair value 0 494,164,000
Transfer of loans to loans held for sale 0 21,689,000
Right-of-use assets obtained in exchange for new operating lease liabilities 739,000 109,000
Non-cash assets acquired:    
Federal Home Loan Bank stock 1,247,000 0
Investment securities available for sale 217,774,000 0
Investment securities held to maturity 124,485,000 0
Loans held for sale 4,620,000 0
Loans 1,095,266,000 0
Fixed Assets 13,748,000 0
Operating lease right-of-use assets 12,991,000 0
Goodwill and other intangible assets, net 124,570,000 0
Bank owned life insurance 37,580,000 0
Other assets 8,820,000 0
Total non-cash assets acquired 1,641,101,000 0
Liabilities assumed:    
Deposits 1,650,613,000 0
Subordinated debt 14,734,000 0
Operating lease liabilities 12,991,000 0
Other liabilities 3,257,000 0
Total liabilities assumed 1,681,595,000 0
Common stock issued $ 285,742,000 $ 0