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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net Income $ 92,448 $ 103,481
Provision for credit losses 11,986 1,353
Deferred tax expense 297 1,057
Depreciation and amortization 7,790 8,784
Net gains on securities and other assets (9,248) (17,093)
Net amortization of premiums and discounts on securities 1,570 3,693
Income from increase in cash surrender value of bank owned life insurance (4,113) (4,617)
(Increase) decrease in interest receivable (888) 4,590
Mortgage loans originated for sale (156,944) (308,744)
Proceeds from sale of mortgage loans 159,078 338,115
Increase in interest payable 1,675 929
(Decrease) increase in income taxes payable (5,222) 2,142
Increase (Decrease) in Other Operating Assets and Liabilities, Net (10,251) 14,267
Net cash provided by operating activities 108,680 119,423
Investing Activities    
Payments to Acquire Held-to-maturity Securities (200) (337,054)
Proceeds from maturities and redemptions of available-for-sale securities 117,718 353,788
Proceeds from sale and maturity of held-to-maturity securities 66,139 89,698
Purchases of available-for-sale securities 0 (667,861)
Purchases of FHLB stock (3,244) (3,552)
Proceeds from the redemption of FHLB stock 626 3,060
Proceeds from Life Insurance Policy 4,823 5,208
Proceeds from Sale of Loans Receivable 52,906 52,919
Proceeds from sale of other assets 3,862 6,620
Net increase in loans and leases (563,044) (37,782)
Payments for Purchase of Other Assets (8,037) (6,056)
Net cash used in investing activities (328,451) (541,012)
Financing Activities    
Net (decrease) increase in other short-term borrowings (40,383) 381
Net increase in deposits 95,183 497,915
Repayments of other long-term debt (531) (50,512)
Repayments of Long-term Capital Lease Obligations (372) (346)
Payments of Dividends (33,373) (32,673)
Proceeds from reissuance of treasury stock 245 222
Purchase of treasury stock (15,598) (15,305)
Net cash provided by financing activities 5,171 399,682
Net decrease in cash and cash equivalents (214,600) (21,907)
Cash and cash equivalents at January 1 395,372 356,581
Cash and cash equivalents at September 30 $ 180,772 $ 334,674