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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 $ 128,181 $ 138,257 $ 73,447
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 21,106 (1,376) 56,718
Deferred Income Taxes and Tax Credits (2,011) 1,432 (8,217)
Depreciation and amortization 10,552 11,442 11,653
Net gains on securities and other assets (11,556) (22,273) (18,807)
Net amortization of premiums and discounts on securities 2,027 4,772 6,183
Income from increase in cash surrender value of bank owned life insurance (5,261) (6,105) (6,288)
Mortgage loans originated for sale (195,105) (390,940) (410,715)
Proceeds from Sale of Mortgage Loans Held-for-sale 198,302 419,574 408,877
(Increase) decrease in interest receivable (6,846) 5,885 (10,735)
Increase (decrease) in interest payable 1,172 (412) (879)
(Decrease) increase in income taxes payable (4,561) 10,664 (887)
Other—net 15,413 (5,874) 5,349
Net cash provided by operating activities 151,413 165,046 105,699
Proceeds from maturities and redemptions 145,589 433,910 472,282
Transactions with securities held to maturity:      
Proceeds from Sale and Maturity of Held-to-maturity Securities 0 0 0
Proceeds from maturities and redemptions 79,613 120,728 118,905
Purchases (200) (361,734) (85,679)
Transactions with securities available for sale:      
Proceeds from sale 0 0 0
Purchases 0 (676,861) (411,178)
Purchases of FHLB stock (20,632) (4,453) (22,231)
Proceeds from the redemption of FHLB stock 7,056 3,342 26,766
Proceeds from Sale of Other Investments 0 500 0
Proceeds from bank owned life insurance 5,337 7,357 1,444
Proceeds from the sale of loans 68,625 76,414 41,141
Proceeds from sales of other assets 8,609 7,798 5,531
Net increase in loans (871,578) (161,667) (622,504)
Purchases of premises and equipment (11,207) (10,639) (7,615)
Net cash used in investing activities (588,788) (565,305) (483,138)
Financing Activities      
Net increase in federal funds purchased 0 0 0
Net increase (decrease) in other short-term borrowings 234,379 20,942 (84,480)
Net increase in deposits 23,007 543,947 761,398
Repayments of other long-term debt (712) (50,685) (659)
Repayments of Long-term Capital Lease Obligations 496 464 430
Dividends paid (44,578) (43,611) (42,982)
Proceeds from reissuance of treasury stock 245 222 222
Purchase of treasury stock (15,598) (31,301) (20,905)
Net cash provided by financing activities 196,247 439,050 612,164
Net (decrease) increase in cash and cash equivalents (241,128) 38,791 234,725
Cash and cash equivalents at January 1 395,372 356,581 121,856
Cash and cash equivalents at December 31 $ 154,244 $ 395,372 $ 356,581