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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net Income $ 112,236 $ 92,448
Provision for Loan and Lease Losses 16,678 11,986
Deferred tax expense 3,179 297
Depreciation and amortization 2,831 7,790
Net gains on securities and other assets (7,701) (9,248)
Net amortization of premiums and discounts on securities 1,052 1,570
Income from increase in cash surrender value of bank owned life insurance (3,627) (4,113)
Increase in interest receivable (5,156) (888)
Mortgage loans originated for sale (137,721) (156,944)
Proceeds from sale of mortgage loans 128,270 159,078
Increase in interest payable 3,937 1,675
Decrease in income taxes payable (1,905) (5,222)
Increase (Decrease) in Other Operating Assets and Liabilities, Net 5,336 (10,251)
Net cash provided by operating activities 106,737 108,680
Investing Activities    
Payments to Acquire Held-to-maturity Securities (200) (200)
Proceeds from maturities and redemptions of available-for-sale securities 33,756 0
Proceeds from maturities and redemptions of available-for-sale securities 75,593 117,718
Payments to Acquire Debt Securities, Available-for-Sale (155,782) 0
Proceeds from sale and maturity of held-to-maturity securities 31,394 66,139
Purchases of FHLB stock (83,218) (3,244)
Proceeds from the redemption of FHLB stock 73,311 626
Proceeds from Life Insurance Policy 2,246 4,823
Proceeds from Sale of Loans Receivable 110,695 52,906
Proceeds from sale of other assets 2,836 3,862
Net cash received from business acquisition 14,492 0
Net increase in loans and leases (435,093) (563,044)
Payments for Purchase of Other Assets (19,020) (8,037)
Net cash used in investing activities (348,990) (328,451)
Financing Activities    
Net decrease in other short-term borrowings (1,368) (40,383)
Net increase in deposits 479,307 95,183
Repayments of other long-term debt (553) (531)
Repayments of Long-term Capital Lease Obligations (397) (372)
Payments of Dividends (38,050) (33,373)
Proceeds from reissuance of treasury stock 245 245
Purchase of treasury stock (14,105) (15,598)
Net cash provided by financing activities 425,079 5,171
Net increase (decrease) in cash and cash equivalents 182,826 (214,600)
Cash and cash equivalents at January 1 154,244 395,372
Cash and cash equivalents at September 30 $ 337,070 $ 180,772