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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 2,923 $ 32,547
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 45,580 4,753
Depreciation of premises and equipment 2,448 2,651
Net amortization of investment securities premiums and discounts 977 834
Net gain on sales of investment securities (760) (8)
Net gain on mortgage banking activities (6,259) (1,279)
Bank owned life insurance income (1,466) (1,695)
Stock-based compensation 1,139 1,256
Intangible expenses 651 843
Other adjustments to reconcile net income to cash used in operating activities (985) (708)
Originations of loans held for sale (186,426) (69,323)
Proceeds from the sale of loans held for sale 178,995 70,603
Contributions to pension and other postretirement benefit plans (136) (132)
Increase in accrued interest receivable and other assets (12,160) (3,921)
Increase (decrease) in accrued interest payable and other liabilities 1,062 (4,864)
Net cash provided by operating activities 25,583 31,557
Cash flows from investing activities:    
Net capital expenditures (1,680) (1,432)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 32,663 11,054
Proceeds from maturities, calls and principal repayments of securities available-for-sale 30,087 27,784
Proceeds from sales of securities available-for-sale 63,565 15,494
Purchases of investment securities held-to-maturity (43,116) (41,808)
Purchases of investment securities available-for-sale (39,003) (498)
Proceeds from sales of money market mutual funds 6,912 523
Purchases of money market mutual funds (6,529) (1,203)
Net increase (decrease) in other investments 62 (4,418)
Net increase in loans and leases (591,521) (162,169)
Proceeds from sales of other real estate owned 0 599
Net cash used in investing activities (548,560) (156,074)
Cash flows from financing activities:    
Net increase in deposits 509,253 236,213
Net increase (decrease) in short-term borrowings 192,100 (150,418)
Proceeds from issuance of long-term debt 125,000 25,000
Repayment of long-term debt (65,000) 0
Payment of contingent consideration on acquisitions (61) (65)
Purchases of treasury stock (4,452) (1,175)
Stock issued under dividend reinvestment and employee stock purchase plans 1,163 1,135
Proceeds from exercise of stock options 94 691
Cash dividends paid (11,719) (11,717)
Net cash provided by financing activities 746,378 99,664
Net increase (decrease) in cash and cash equivalents 223,401 (24,853)
Cash and cash equivalents at beginning of year 125,128 109,420
Cash and cash equivalents at end of period 348,529 84,567
Supplemental disclosures of cash flow information:    
Cash paid for interest 17,535 22,002
Cash paid for income taxes, net of refunds 7,977 9,883
Transfer of loans to other real estate owned 8,125 0
Transfer of Portfolio Loans and Leases to Held-for-sale $ 14,416 $ 0