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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 93,408 $ 87,091 $ 68,499
Items not requiring (providing) cash      
Provision for (recovery of) credit losses (1,816) (2,084) 20,751
Depreciation and amortization 10,754 9,802 9,399
Share based compensation 2,475 1,819 1,338
Amortization of mortgage servicing rights 2,345 4,073 2,932
Impairment (recovery) of mortgage servicing rights (2,594) (2,578) 4,453
Premium amortization on securities, net 12,148 10,289 9,067
Deferred income taxes 2,177 2,311 (9,421)
Gain on sale of investment securities 0 (914) (4,297)
Gain on sale of mortgage loans (7,165) (19,163) (26,721)
Proceeds from sales of loans 225,928 453,087 605,256
Loans originated for sale (215,174) (437,174) (593,515)
Gain on cash value life insurance (2,594) (2,094) (2,243)
Gain on other real estate owned (722) (85) (197)
Net change in:      
Interest receivable (9,157) (4,222) (2,568)
Interest payable 3,145 (493) (350)
Other assets (13,964) 9,633 (4,456)
Other liabilities (4,814) (2,948) 931
Net cash provided by operating activities 94,380 106,350 78,858
Investing Activities      
Purchases of securities available for sale (180,198) (837,684) (590,305)
Proceeds from sales, maturities, calls and principal repayments of securities available for sale 69,113 287,714 318,897
Purchases of securities held to maturity (430,457) (931,029) 0
Proceeds from maturities of securities held to maturity 72,968 30,544 37,529
Net change in interest earning time deposits 1,970 4,183 (510)
Purchase of FHLB stock (2,435) (1,417) (1,161)
Redemption of FHLB stock 198 0 585
Purchase of loans (55,195) 0 0
Net change in loans (448,284) 480,028 (239,938)
Proceeds on the sale of OREO and repossessed assets 5,263 1,286 2,047
Premises and equipment expenditures (6,429) (1,440) (5,866)
Purchases of bank owned life insurance (50,000) 0 0
Proceeds from bank owned life insurance 3,554 783 264
Net cash received in branch acquisition 0 622,179 0
Net cash used in investing activities (1,019,932) (344,853) (478,458)
Financing Activities      
Net change in deposits 54,783 425,449 600,131
Proceeds from long–term borrowings 675,000 244,554 133,810
Repayment of long–term borrowings (755,608) (76,371) (123,377)
Net change in short–term borrowings 503,746 0  
Net change in short–term borrowings     (98,000)
Net change in repurchase agreements 7,072 21,336 18,521
Net settlement of share awards (1,824) (1,355) 0
Exercise of stock options 145 1,062 157
Repurchase of outstanding stock 0 (7,607) (19,636)
Proceeds from issuance of stock 0 0 1,233
Net proceeds from issuance of subordinated notes 0 0 58,824
Dividends paid on common stock (27,765) (24,768) (21,183)
Net cash provided by (used in) financing activities 455,549 582,300 550,480
Net Change in Cash and Cash Equivalents (470,003) 343,797 150,880
Cash and Cash Equivalents, Beginning of Period 593,508 249,711 98,831
Cash and Cash Equivalents, End of Period $ 123,505 $ 593,508 $ 249,711