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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 37,834 $ 33,483
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 6,815 3,224
Depreciation of premises and equipment 2,450 2,193
Net amortization of investment securities premiums and discounts 569 837
Net gain on sales of investment securities 0 (30)
Net gain on mortgage banking activities (1,664) (3,159)
Bank owned life insurance income (1,556) (1,404)
Stock-based compensation 2,115 1,949
Intangible expenses 506 683
Other adjustments to reconcile net income to cash used in operating activities (945) (1,922)
Originations of loans held for sale (87,921) (138,112)
Proceeds from the sale of loans held for sale 84,694 154,671
Contributions to pension and other postretirement benefit plans (85) (126)
(Increase) decrease in accrued interest receivable and other assets (6,601) 3,854
Increase in accrued interest payable and other liabilities 3,852 3,592
Net cash provided by operating activities 40,063 59,733
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 693 6,844
Purchases of premises and equipment (4,274) (2,090)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 7,266 20,705
Proceeds from maturities, calls and principal repayments of securities available-for-sale 15,260 17,417
Proceeds from sales of securities available-for-sale 0 1,530
Purchases of investment securities held-to-maturity (6,252) (3,936)
Purchases of investment securities available-for-sale (19,348) (89,494)
Proceeds from sales of money market mutual funds 242 3,496
Purchases of money market mutual funds (1,220) (3,628)
Net increase in other investments (8,970) (930)
Proceeds from sale of loans originally held-for-investment 175 0
Net increase in loans and leases (361,702) (371,495)
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 (385,732) (421,581)
Cash flows from financing activities:    
Net increase (decrease) in deposits 73,863 (492,092)
Net increase in short-term borrowings 47,525 77,500
Proceeds from issuance of long-term debt 250,000 0
Repayment of long-term debt (25,000) 0
Payment of contingent consideration on acquisitions (635) 0
Payment for shares withheld to cover taxes on vesting of restricted stock units (1,230) (901)
Purchases of treasury stock 0 7,570
Stock issued under dividend reinvestment and employee stock purchase plans 1,309 1,275
Proceeds from exercise of stock options 114 575
Cash dividends paid (12,665) (12,312)
Net cash provided by (used in) financing activities 333,281 (433,525)
Net decrease in cash and cash equivalents (12,388) (795,373)
Cash and cash equivalents at beginning of year 152,799 890,150
Cash and cash equivalents at end of period 140,411 94,777
Supplemental disclosures of cash flow information:    
Cash paid for interest 53,708 10,088
Cash paid for income taxes, net of refunds 7,845 2,329
Transfer of loans to other real estate owned 0 18,325
Transfer of loans to loans held for sale $ 19,895 $ 0