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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 32,603 $ 838
Adjustments to reconcile net income to net cash provided by operating activities:    
(Reversal of provision) provision for credit losses (11,283) 21,843
Depreciation of premises and equipment 1,173 1,258
Net amortization of investment securities premiums and discounts 768 383
Net gain on sales of investment securities (65) (695)
Net gain on mortgage banking activities (5,938) (2,744)
Bank owned life insurance income (717) (734)
Stock-based compensation 874 435
Intangible expenses 249 330
Other adjustments to reconcile net income to cash (used in) provided by operating activities (2,036) 273
Originations of loans held for sale (142,877) (63,730)
Proceeds from the sale of loans held for sale 163,052 58,959
Contributions to pension and other postretirement benefit plans (66) (68)
Increase in accrued interest receivable and other assets (5,488) (2,752)
Decrease in accrued interest payable and other liabilities (376) (2,544)
Net cash provided by operating activities 29,873 11,052
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 0 8
Purchases of premises and equipment (1,311) (387)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 20,197 12,475
Proceeds from maturities, calls and principal repayments of securities available-for-sale 12,708 12,896
Proceeds from sales of securities available-for-sale 1,563 62,276
Purchases of investment securities held-to-maturity (4,625) (43,116)
Purchases of investment securities available-for-sale (32,540) (32,242)
Proceeds from sales of money market mutual funds 2,020 4,753
Purchases of money market mutual funds (2,150) (4,644)
Net decrease (increases) in other investments 2,612 (211)
Net increase in loans and leases (108,296) (62,368)
Net cash used in investing activities (109,822) (50,560)
Cash flows from financing activities:    
Net increase in deposits 68,869 47,229
Net increase (decrease) in short-term borrowings 8,770 (265)
Proceeds from issuance of long-term debt 0 125,000
Repayment of long-term debt (15,000) (65,000)
Early Repayment of Subordinated Debt (10,000) 0
Payment of contingent consideration on acquisitions (29) (31)
Purchases of treasury stock (650) (4,438)
Stock issued under dividend reinvestment and employee stock purchase plans 609 572
Proceeds from exercise of stock options 759 94
Cash dividends paid (5,920) (5,879)
Net cash provided by financing activities 47,408 97,282
Net (decrease) increase in cash and cash equivalents (32,541) 57,774
Cash and cash equivalents at beginning of year 219,858 125,128
Cash and cash equivalents at end of period 187,317 182,902
Supplemental disclosures of cash flow information:    
Cash paid for interest 6,856 9,420
Cash paid for income taxes, net of refunds 130 32
Transfer of loans to other real estate owned $ 126 $ 0