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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 53,478 $ 2,923
Adjustments to reconcile net income to net cash provided by operating activities:    
(Reversal of provision) provision for credit losses (11,342) 45,580
Depreciation of premises and equipment 2,355 2,448
Net amortization of investment securities premiums and discounts 1,499 977
Net gain on sales of investment securities (119) (760)
Net gain on mortgage banking activities (9,399) (6,259)
Bank owned life insurance income (2,337) (1,466)
Stock-based compensation 1,763 1,139
Intangible expenses 498 651
Other adjustments to reconcile net income to cash used in operating activities (2,838) (985)
Originations of loans held for sale (282,978) (186,426)
Proceeds from the sale of loans held for sale 306,944 178,995
Contributions to pension and other postretirement benefit plans (133) (136)
Increase in accrued interest receivable and other assets (1,253) (12,160)
(Decrease) increase in accrued interest payable and other liabilities (7,745) 1,062
Net cash provided by operating activities 48,393 25,583
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 0 8
Purchases of premises and equipment (2,911) (1,688)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 39,166 32,663
Proceeds from maturities, calls and principal repayments of securities available-for-sale 28,817 30,087
Proceeds from sales of securities available-for-sale 3,115 63,565
Purchases of investment securities held-to-maturity (8,626) (43,116)
Purchases of investment securities available-for-sale (85,719) (39,003)
Proceeds from sales of money market mutual funds 4,309 6,912
Purchases of money market mutual funds (3,763) (6,529)
Net decrease in other investments 2,955 62
Net increase in loans and leases (24,701) (591,521)
Proceeds from sales of other real estate owned 7,255 0
Proceeds from bank owned life insurance 2,290 0
Net cash used in investing activities (37,813) (548,560)
Cash flows from financing activities:    
Net increase in deposits 75,974 509,253
Net increase in short-term borrowings 7,345 192,100
Proceeds from issuance of long-term debt 0 125,000
Repayment of long-term debt (15,000) (65,000)
Early Repayment of Subordinated Debt (85,000) 0
Payment of contingent consideration on acquisitions (58) (61)
Purchases of treasury stock (650) (4,452)
Stock issued under dividend reinvestment and employee stock purchase plans 1,214 1,163
Proceeds from exercise of stock options 983 94
Cash dividends paid (11,797) (11,719)
Net cash (used in) provided by financing activities (26,989) 746,378
Net (decrease) increase in cash and cash equivalents (16,409) 223,401
Cash and cash equivalents at beginning of year 219,858 125,128
Cash and cash equivalents at end of period 203,449 348,529
Supplemental disclosures of cash flow information:    
Cash paid for interest 12,377 17,535
Cash paid for income taxes, net of refunds 15,450 7,977
Transfer of loans to other real estate owned 126 8,125
Transfer of Portfolio Loans and Leases to Held-for-sale $ 3,959 $ 14,416