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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net income $ 19,805 $ 15,929
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs 1,287 1,271
Depreciation and amortization 1,011 1,665
Amortization of intangible assets 516 596
Amortization of operating lease right-of-use assets 1,032 1,021
Provision for credit losses (benefit) 7,893 6,272
Loans originated for sale (10,341) (25,379)
Proceeds from sales of loans held for sale 11,307 31,462
(Gain) loss on equity securities (148) 485
Income on bank owned life insurance (776) (777)
Gains on proceeds from bank owned life insurance policies 0 (53)
Gains on sales of loans held for sale (430) (1,426)
Gains on other real estate and other repossessed assets (4) (8)
Loss on sales of premises and equipment 0 3
Loss on sale of asset 41 0
Stock-based compensation 1,725 1,439
Excess Tax Deficiencies (Benefits) 138 79
Decrease (increase) in other assets 22,861 (1,860)
Decrease in other liabilities (19,156) (1,379)
Net Cash Provided by Operating Activities 36,761 29,340
Cash Flows from Investing Activities:    
Net cash acquired in acquisitions 0 326,236
Proceeds from repayments and maturities of available for sale securities 28,151 41,454
Proceeds from repayments and maturities of held to maturity securities 19,579 42,432
Purchase of available for sale securities 0 (269,070)
Purchase of held to maturity securities 0 (35,648)
Purchase of equity securities (65) (32)
Death benefit proceeds from bank owned life insurance policy 0 95
Proceeds from redemptions of Federal Home Loan Bank stock 48,022 0
Purchases of Federal Home Loan Bank stock (51,345) (119)
Net increase in loans (85,085) (60,109)
Proceeds from sales of other real estate and repossessed assets 1,919 8
Proceeds from dispositions and sales of premises and equipment 0 123
Purchases of premises and equipment (2,012) (944)
Net Cash (Used in) Provided by Investing Activities (40,836) 44,426
Cash Flows from Financing Activities:    
Net (decrease) increase in deposits (30,471) 132,657
Increase (decrease) in federal funds purchased and securities sold under agreements to repurchase 84,531 (3,542)
Retirement of restricted stock (1,493) (933)
Dividends paid (9,500) (8,809)
Net Cash Provided by Financing Activities 43,067 119,373
Net increase in cash and cash equivalents 38,992 193,139
Cash and cash equivalents, beginning of period 235,950 228,530
Cash and cash equivalents, end of period 274,942 421,669
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 257 5,619
Cash paid during the period for interest 37,444 6,969
Right-of-use assets obtained in exchange for new operating lease liabilities 309 89
Non-cash assets acquired:    
Federal Home Loan Bank stock 0 1,247
Investment securities available for sale 0 217,774
Investment securities held to maturity 0 124,485
Loans held for sale 0 4,620
Loans 0 1,095,266
Fixed Assets 0 13,748
Operating lease right-of-use assets 0 12,991
Goodwill and other intangible assets, net 0 124,570
Bank owned life insurance 0 37,580
Other assets 0 8,820
Total non-cash assets acquired 0 1,641,101
Liabilities assumed:    
Deposits 0 1,650,613
Subordinated debt 0 14,734
Operating lease liabilities 0 12,991
Other liabilities 0 3,257
Total liabilities assumed 0 1,681,595
Common stock issued $ 0 $ 285,742