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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 21,034 $ 20,317
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (reversal of provision) for credit losses 3,387 (3,450)
Depreciation of premises and equipment 1,181 1,101
Net amortization of investment securities premiums and discounts 264 472
Net gain on sales of investment securities 0 (30)
Net gain on mortgage banking activities (625) (1,929)
Bank owned life insurance income (767) (699)
Stock-based compensation 1,110 934
Intangible expenses 253 341
Other adjustments to reconcile net income to cash used in operating activities (32) (910)
Originations of loans held for sale (28,043) (73,541)
Proceeds from the sale of loans held for sale 28,430 82,616
Contributions to pension and other postretirement benefit plans (62) (63)
(Increase) decrease in accrued interest receivable and other assets (1,878) 4,316
Decrease in accrued interest payable and other liabilities (3,512) (5,535)
Net cash provided by operating activities 20,740 23,940
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 5 6,170
Purchases of premises and equipment (2,590) (676)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 3,284 14,335
Proceeds from maturities, calls and principal repayments of securities available-for-sale 6,940 8,501
Proceeds from sales of securities available-for-sale 0 1,530
Purchases of investment securities held-to-maturity 0 (3,936)
Purchases of investment securities available-for-sale (19,129) (63,634)
Proceeds from sales of money market mutual funds 10 2,508
Purchases of money market mutual funds (605) (2,077)
Net (increase) decrease in other investments (9,951) 1,856
Proceeds from sale of loans originally held-for-investment 175 0
Net increase in loans and leases (119,332) (90,783)
Proceeds from sales of other real estate owned 260 0
Purchases of bank owned life insurance (7,862) 0
Net cash used in investing activities (148,795) (126,206)
Cash flows from financing activities:    
Net decrease in deposits (78,876) (7,200)
Net increase (decrease) in short-term borrowings 74,740 (1,130)
Proceeds from issuance of long-term debt 150,000 0
Repayment of long-term debt (25,000) 0
Payment of contingent consideration on acquisitions (635) 0
Payment, Tax Withholding, Share-based Payment Arrangement (1,207) (863)
Stock issued under dividend reinvestment and employee stock purchase plans 662 623
Proceeds from exercise of stock options 74 576
Cash dividends paid (6,178) (6,109)
Net cash provided by (used in) financing activities 113,580 (14,103)
Net decrease in cash and cash equivalents (14,475) (116,369)
Cash and cash equivalents at beginning of year 152,799 890,150
Cash and cash equivalents at end of period 138,324 773,781
Supplemental disclosures of cash flow information:    
Cash paid for interest 21,927 5,559
Cash paid for income taxes, net of refunds 65 28
Transfer of loans to loans held for sale $ 175 $ 0