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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 54,850 $ 54,284
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 8,839 6,782
Depreciation of premises and equipment 3,752 3,323
Net amortization of investment securities premiums and discounts 873 1,168
Net gain on sales of investment securities 0 (30)
Net gain on mortgage banking activities (2,880) (3,976)
Bank owned life insurance income (2,362) (2,557)
Stock-based compensation 3,229 2,998
Intangible expenses 726 992
Other adjustments to reconcile net income to cash used in operating activities (1,455) (2,896)
Originations of loans held for sale (165,076) (198,547)
Proceeds from the sale of loans held for sale 162,728 215,424
Contributions to pension and other postretirement benefit plans (186) (189)
(Increase) decrease in accrued interest receivable and other assets (8,200) 2,252
Increase in accrued interest payable and other liabilities 7,029 4,449
Net cash provided by operating activities 61,867 83,477
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 1,032 6,844
Purchases of premises and equipment (5,220) (3,673)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 11,225 27,700
Proceeds from maturities, calls and principal repayments of securities available-for-sale 24,052 25,132
Proceeds from sales of securities available-for-sale 0 1,530
Purchases of investment securities held-to-maturity (6,253) (10,427)
Purchases of investment securities available-for-sale (19,348) (111,611)
Proceeds from sales of money market mutual funds 252 3,506
Purchases of money market mutual funds (1,845) (3,708)
Net increase in other investments (8,576) (1,289)
Proceeds from sale of loans originally held-for-investment 19,631 2,500
Net increase in loans and leases (481,200) (562,235)
Proceeds from sales of other real estate owned 260 0
Purchases of bank owned life insurance (7,862) 0
Proceeds from bank owned life insurance 0 1,221
Net cash used in investing activities (473,852) (624,510)
Cash flows from financing activities:    
Net increase (decrease) in deposits 525,619 (268,171)
Net (decrease) increase in short-term borrowings (182,465) 60,605
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 (1,232) (903)
Purchases of treasury stock 0 11,381
Stock issued under dividend reinvestment and employee stock purchase plans 1,979 1,934
Proceeds from exercise of stock options 114 575
Cash dividends paid (18,853) (18,466)
Net cash provided by (used in) financing activities 549,527 (235,807)
Net increase (decrease) in cash and cash equivalents 137,542 (776,840)
Cash and cash equivalents at beginning of year 152,799 890,150
Cash and cash equivalents at end of period 290,341 113,310
Supplemental disclosures of cash flow information:    
Cash paid for interest 93,435 20,095
Cash paid for income taxes, net of refunds 13,232 6,629
Transfer of loans to other real estate owned 79 18,325
Transfer of loans to loans held for sale $ 25,646 $ 2,500