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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net Income $ 73,005 $ 58,480
Provision for Loan and Lease Losses 10,793 6,063
Deferred tax expense 3,535 1,240
Depreciation and amortization 1,895 5,159
Net gains on securities and other assets (5,521) (6,730)
Net amortization of premiums and discounts on securities 725 1,131
Income from increase in cash surrender value of bank owned life insurance (2,386) (2,891)
(Increase) decrease in interest receivable (91) 747
Mortgage loans originated for sale (83,788) (106,160)
Proceeds from sale of mortgage loans 80,749 109,533
Increase in interest payable 2,063 119
Decrease in income taxes payable (2,206) (7,587)
Increase (Decrease) in Other Operating Assets and Liabilities, Net (7,568) (1,265)
Net cash provided by operating activities 86,341 60,369
Investing Activities    
Payments to Acquire Held-to-maturity Securities (200) (200)
Proceeds from maturities and redemptions of available-for-sale securities 30,686 0
Proceeds from maturities and redemptions of available-for-sale securities 48,521 88,001
Payments to Acquire Debt Securities, Available-for-Sale (24,555) 0
Proceeds from sale and maturity of held-to-maturity securities 21,154 48,863
Purchases of FHLB stock (45,719) (1,321)
Proceeds from the redemption of FHLB stock 38,397 494
Proceeds from Life Insurance Policy 2,246 3,058
Proceeds from Sale of Loans Receivable 63,839 36,159
Proceeds from sale of other assets 1,472 3,168
Net cash received from business acquisition 14,492 0
Net increase in loans and leases (274,082) (315,444)
Payments for Purchase of Other Assets (13,219) (7,360)
Net cash used in investing activities (136,968) (144,582)
Financing Activities    
Net decrease in other short-term borrowings (2,590) (49,392)
Net increase in deposits 384,365 71,073
Repayments of other long-term debt (367) (352)
Repayments of Long-term Capital Lease Obligations (263) (246)
Payments of Dividends (25,249) (22,167)
Proceeds from reissuance of treasury stock 245 245
Purchase of treasury stock (10,889) (10,520)
Net cash provided by (used in) financing activities 345,252 (11,359)
Net increase (decrease) in cash and cash equivalents 294,625 (95,572)
Cash and cash equivalents at January 1 154,244 395,372
Cash and cash equivalents at June 30 $ 448,869 $ 299,800