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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 23,642 $ 22,983
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 1,516 1,575
Provision for credit losses 417 1,477
Amortization of loan servicing rights 223 198
Net change in loan servicing rights valuation allowance (360) (197)
Loans originated for sale, including participations (12,468) (32,629)
Net gain on sales of loans (513) (1,233)
Proceeds from sale of loans, including participations 18,058 25,692
Net (gain) loss on sales of premises and equipment 1 (1)
Net gain on sales and calls of securities available-for-sale 0 (753)
Net securities amortization 1,654 958
Stock based compensation expense 2,260 1,381
Losses (earnings) on life insurance 83 (756)
Gain on life insurance 0 (202)
Tax benefit of stock award issuances (500) (266)
Net change:    
Interest receivable and other assets (2,822) (1,415)
Interest payable and other liabilities 16,513 6,980
Total adjustments 24,062 809
Net cash from operating activities 47,704 23,792
Cash flows from investing activities:    
Proceeds from sale of securities available- for-sale 0 13,506
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 29,647 31,734
Purchases of securities available-for-sale (292,127) (161,224)
Purchase of life insurance (43) (528)
Net (increase) decrease in total loans (66,537) 174,303
Proceeds from sales of land, premises and equipment 0 2
Purchases of land, premises and equipment (1,091) (2,162)
Proceeds from redemption of Federal Home Loan Bank stock 932 0
Proceeds from life insurance 0 329
Net cash from investing activities (329,219) 55,960
Cash flows from financing activities:    
Net increase in total deposits 85,216 193,165
Net increase (decrease) in short-term borrowings 0 (10,500)
Common dividends paid (10,198) (8,647)
Payments related to equity incentive plans (1,728) (1,648)
Purchase of treasury stock (212) (219)
Sale of treasury stock 221 115
Net cash from financing activities 73,299 172,266
Net change in cash and cash equivalents (208,216) 252,018
Cash and cash equivalents at beginning of the period 683,240 249,927
Cash and cash equivalents at end of the period 475,024 501,945
Cash paid during the period for:    
Interest 3,470 5,973
Supplemental non-cash disclosures:    
Loans transferred to other real estate owned 0 131
Securities purchases payable 2,146 5,855
Right-of-use assets obtained in exchange for lease liabilities $ 1,612 $ 0