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Condensed Financial Information of Parent Company
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company
Condensed Financial Information of Parent Company
Following are the condensed balance sheets of the Company (parent company only) and the related condensed statements of income and cash flows.
Condensed Balance Sheets
December 31,
(In thousands)20212020
Assets
Cash and due from banks $132,050 $51,714 
Short-term investments 585 235,452 
Securities available-for-sale, at fair value 566,835 357,726 
Loans, net 40,515 49,314 
Payments in advance of funding 291,427 194,563 
Investments in subsidiaries 164,650 162,341 
Premises and equipment, net 17,443 17,459 
Other assets 95,940 69,162 
Total assets $1,309,445 $1,137,731 
Liabilities and Shareholders’ Equity
Liabilities:
Accounts and drafts payable $1,041,070 $832,420 
Other liabilities 22,577 44,151 
Total liabilities 1,063,647 876,571 
Total shareholders’ equity 245,798 261,160 
Total liabilities and shareholders’ equity $1,309,445 $1,137,731 
Condensed Statements of Income
For the Years Ended December 31,
(In thousands)202120202019
Income from subsidiaries – management fees $3,115 $2,854 $2,599 
Information services revenue 104,426 95,078 106,198 
Net interest income after (release of) provision for credit losses11,316 10,932 15,713 
Gain on sales of investment securities 51 1,075 19 
Other income 919 458 518 
Total income 119,827 110,397 125,047 
Expenses:
Salaries and employee benefits 80,434 77,577 81,432 
Other expenses 27,406 25,347 26,136 
Total expenses 107,840 102,924 107,568 
Income before income tax and equity in undistributed income of subsidiaries 11,987 7,473 17,479 
Income tax expense 635 340 2,860 
Income before undistributed income of subsidiaries 11,352 7,133 14,619 
Equity in undistributed income of subsidiaries 17,252 18,043 15,785 
Net income $28,604 $25,176 $30,404 
Condensed Statements of Cash Flows
For the Years Ended December 31,
(In thousands)202120202019
Cash flows from operating activities:
Net income $28,604 $25,176 $30,404 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiaries (17,252)(18,043)(15,785)
Net change in other assets (212)6,054 (6,289)
Net change in other liabilities (9,307)(6,525)9,474 
Stock-based compensation expense 2,859 2,267 3,144 
Other, net 20,921 18,236 6,104 
Net cash provided by operating activities 25,613 27,165 27,052 
Cash flows from investing activities:
Net (increase) decrease in securities (226,090)65,689 26,150 
Net decrease (increase) in loans 8,799 (2,545)(24,999)
Net (increase) decrease in payments in advance of funding (96,864)11,595 (45,381)
Purchase of bank-owned life insurance(25,119)— — 
Purchases of premises and equipment, net (2,233)(1,810)(2,637)
Asset acquisition of Gateway Giving, LLC — — (2,833)
Net cash (used in) provided by investing activities (341,507)72,929 (49,700)
Cash flows from financing activities:
Net increase (decrease) in accounts and drafts payable 208,656 208,339 (21,875)
Short-term borrowings — (18,000)18,000 
Cash dividends paid (15,446)(15,599)(15,234)
Purchase of common shares for treasury (30,997)(6,825)(7,799)
Other financing activities, net (850)(1,098)(1,125)
Net cash provided by (used in) financing activities 161,363 166,817 (28,033)
Net increase (decrease) in cash and cash equivalents (154,531)266,911 (50,681)
Cash and cash equivalents at beginning of year 287,166 20,255 70,936 
Cash and cash equivalents at end of year $132,635 $287,166 $20,255