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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net income $ 42,433 $ 45,046
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs 2,781 2,580
Depreciation and amortization 2,223 3,320
Amortization of intangible assets 1,028 1,189
Amortization of operating lease right-of-use assets 2,041 2,058
Provision for credit losses 9,840 9,916
Loans originated for sale (20,109) (41,914)
Proceeds from sales of loans held for sale 20,742 49,450
Equity Securities, FV-NI, Realized Gain (Loss) (13) 849
Income on bank owned life insurance (1,577) (1,558)
Gains on proceeds from bank owned life insurance policies (220) (92)
Gains on sales of loans held for sale (659) (2,141)
Gains on other real estate and other repossessed assets (11) (12)
Loss on sales of premises and equipment 0 215
Loss on sale of asset 41 0
Impairment of property held for sale 0 100
Stock-based compensation 2,917 2,598
Excess tax benefits 129 65
Increase in other assets (922) (18,209)
Increase in other liabilities 3,356 13,855
Net Cash Provided by Operating Activities 64,020 67,315
Cash Flows from Investing Activities:    
Net cash acquired in acquisitions 0 326,236
Proceeds from repayments and maturities of available for sale securities 55,252 82,343
Proceeds from repayments and maturities of held to maturity securities 45,317 66,692
Purchase of available for sale securities 0 (308,075)
Purchase of held to maturity securities (3,540) (62,306)
Purchase of equity securities (133) (1,075)
Death benefit proceeds from bank owned life insurance policy 716 134
Proceeds from redemptions of Federal Home Loan Bank stock 110,949 9,240
Purchases of Federal Home Loan Bank stock (121,569) (24,591)
Net increase in loans (232,516) (329,049)
Proceeds from sales of other real estate and repossessed assets 1,925 12
Proceeds from dispositions and sales of premises and equipment 0 598
Purchases of premises and equipment (3,498) (2,664)
Net Cash Used in Investing Activities (147,097) (242,505)
Cash Flows from Financing Activities:    
Net decrease in deposits (122,688) (114,308)
Increase in federal funds purchased and securities sold under agreements to repurchase 209,921 325,753
Retirement of restricted stock (1,535) (996)
Dividends paid (19,029) (18,323)
Net Cash Provided by Financing Activities 66,669 192,126
Net (decrease) increase in cash and cash equivalents (16,408) 16,936
Cash and cash equivalents, beginning of period 235,950 228,530
Cash and cash equivalents, end of period 219,542 245,466
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 13,148 10,153
Cash paid during the period for interest 82,273 12,467
Right-of-use assets obtained in exchange for new operating lease liabilities 467 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