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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 20,305 $ 21,034
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,432 3,387
Depreciation of premises and equipment 1,341 1,181
Net amortization of investment securities premiums and discounts 262 264
Amortization, fair market value adjustments and capitalization of servicing rights 3,302 111
Net gain on mortgage banking activities (939) (625)
Bank owned life insurance income (842) (767)
Stock-based compensation 1,025 1,110
Intangible expenses 187 253
Other adjustments to reconcile net income to cash used in operating activities (710) (143)
Originations of loans held for sale (48,450) (28,043)
Proceeds from the sale of loans held for sale 47,981 28,430
Contributions to pension and other postretirement benefit plans (63) (62)
Increase in accrued interest receivable and other assets (6,998) (1,878)
Decrease in accrued interest payable and other liabilities (6,265) (3,512)
Net cash provided by operating activities 11,568 20,740
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 2,440 5
Purchases of premises and equipment (1,040) (2,590)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 3,308 3,284
Proceeds from maturities, calls and principal repayments of securities available-for-sale 8,628 6,940
Purchases of investment securities held-to-maturity (1,100) 0
Purchases of investment securities available-for-sale (11,059) (19,129)
Proceeds from sales of money market mutual funds 616 10
Purchases of money market mutual funds (714) (605)
Net increase in other investments 3,105 (9,951)
Proceeds from sale of loans originally held-for-investment 0 175
Net increase in loans and leases (12,965) (119,332)
Proceeds from sales of other real estate owned 0 260
Purchases of bank owned life insurance (5,710) (7,862)
Net cash used in investing activities (14,491) (148,795)
Cash flows from financing activities:    
Net increase (decrease) in deposits 29,571 (78,876)
Net (decrease) increase in short-term borrowings (1,490) 74,740
Proceeds from issuance of long-term debt 0 150,000
Repayment of long-term debt (60,000) (25,000)
Payment of contingent consideration on acquisitions (635) (635)
Payment for shares withheld to cover taxes on vesting of restricted stock units (830) (1,207)
Purchases of treasury stock 6,478 0
Stock issued under dividend reinvestment and employee stock purchase plans 648 662
Proceeds from exercise of stock options 150 74
Cash dividends paid (6,206) (6,178)
Net cash (used in) provided by financing activities (45,270) 113,580
Net decrease in cash and cash equivalents (48,193) (14,475)
Cash and cash equivalents at beginning of year 249,799 152,799
Cash and cash equivalents at end of period 201,606 138,324
Supplemental disclosures of cash flow information:    
Cash paid for interest 45,292 21,927
Cash paid for income taxes, net of refunds 122 65
Transfer of leases to repossessed assets 167 0
Transfer of loans to loans held for sale $ 0 $ 175