XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flow From Operating Activities:    
Net income $ 64,079 $ 48,586
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,964 2,668
Change in deferred taxes (3,395) (1,665)
Share-based compensation 1,197 1,100
Loans originated for sale (74,212) (63,805)
Proceeds from sales of loans held for sale 74,746 72,456
Gains on sales of loans held for sale (848) (1,402)
Net (gains) losses on sales of securities available for sale 1,571 (566)
Increase in cash surrender value of life insurance (1,287) (1,176)
Gains on life insurance benefits (1) (520)
Change in interest receivable (445) 1,106
Change in interest payable 4,449 827
Other adjustments 9,039 (7,388)
Net cash provided by operating activities 77,857 50,221
Cash Flows from Investing Activities:    
Net change in interest-bearing deposits (226,634) 78,892
Purchases of:    
Securities available for sale (1,400) (62,164)
Securities held to maturity 0 (206,523)
Proceeds from sales of securities available for sale 213,232 35,029
Proceeds from maturities of:    
Securities available for sale 17,814 37,442
Securities held to maturity 22,987 42,834
Change in Federal Home Loan Bank stock (3,353) 2,314
Net change in loans (238,872) (116,409)
Proceeds from the sale of other real estate owned 46 174
Proceeds from life insurance benefits 509 856
Other adjustments (1,703) (2,896)
Net cash used in investing activities (217,374) (190,451)
Net change in :    
Demand and savings deposits (184,063) 211,458
Certificates of deposit and other time deposits 504,605 (38,082)
Borrowings 486,714 59
Repayment of borrowings (646,683) (36,975)
Cash dividends on preferred stock (469) 0
Cash dividends on common stock (19,086) (15,607)
Stock issued under employee benefit plans 199 0
Stock issued under dividend reinvestment and stock purchase plans 514 471
Stock options exercised 1,010 37
Net cash provided by financing activities 142,741 121,361
Net Change in Cash and Cash Equivalents 3,224 (18,869)
Cash and Cash Equivalents, January 1 122,594 167,146
Cash and Cash Equivalents, March 31 125,818 148,277
Additional cash flow information:    
Interest paid 57,830 6,433
Income tax paid (refunded) (1,118) 7,750
Loans transferred to other real estate owned 1,080 5,868
Non-cash investing activities using trade date accounting 0 5,246
ROU assets obtained in exchange for new operating lease liabilities 646 53
Payments for (Proceeds from) Loans Receivable $ 238,872 $ 116,409