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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income $ 70,403 $ 41,301
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (recapture of) credit losses 10,479 (5,815)
Depreciation and amortization 7,520 8,107
Stock-based compensation expense 4,616 3,507
Pension expense (income) 875 625
Net amortization (accretion) on investment securities 1,894 4,092
Net (gain) loss on sales of investment securities 519 (3)
Unrealized gain (loss) on equity securities (640) 199
Originations of loans held for sale (42,174) (98,958)
Net gains from sales of loans held for sale (2,335) (3,872)
Proceeds from sales of loans held for sale 41,926 113,939
Deferred income taxes (8,844) 334
Operating Lease, Right-of-Use Asset, Amortization Expense 1,914 1,899
Payments for operating leases (1,970) (1,942)
Decrease (increase) cash surrender value of life insurance 766 652
Decrease (increase) in interest receivable (1,866) 1,846
(Decrease) increase in interest payable 18,746 164
Decrease (increase) in other assets 145,295 52,590
(Decrease) increase in other liabilities (73,386) 26,454
Net cash provided by (used in) operating activities 172,206 143,815
Investing activities    
Proceeds from Sale of Debt Securities, Available-for-sale 0 5,003
Proceeds from calls, paydowns and maturities of securities available-for-sale 89,066 232,267
Payments to Acquire Debt Securities, Available-for-sale 27,240 173,954
Proceeds from calls, paydowns and maturities of securities held-to-maturity 1,009 5,906
Payments to Acquire Other Investments 306 11,799
Proceeds from Maturities, Prepayments and Calls of Other Investments 0 8
Net decrease (increase) in interest-bearing deposits with other banks 82,717 (12,336)
Net decrease (increase) in loans and leases (133,223) 49,580
Proceeds from disposal of other real estate owned 0 98
Purchases of premises and equipment (4,493) (3,181)
Net change in operating leases (62,248) (12,085)
Proceeds from Life Insurance Policy 627 3,316
Net cash provided by (used in) investing activities (57,491) 82,823
Financing activities    
Net (decrease) increase in total deposits (26,493) (53,046)
Net (decrease) increase in short-term borrowings (69,596) (111,203)
Payments of long-term debt 4,215 30,183
Cash dividends paid on common stock (22,111) (21,986)
Proceeds from exercise of stock options 34 177
Net cash provided by (used in) financing activities (122,381) (216,241)
Cash and due from banks:    
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (7,666) 10,397
Cash and due from bank at beginning of period 207,501 220,031
Cash and due from bank at end of period 199,835 230,428
Supplemental Disclosures    
Interest Paid 30,518 7,321
Income Taxes Paid 324 170
Supplemental schedule for investing activities    
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration (3,290) 1,028
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities 941 238
Goodwill 4,231 (790)
Cash consideration $ (3,400) $ 0