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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net income $ 19,814 $ 29,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and (accretion), net 1,990 (422)
(Recovery of) provision for credit losses (440) 7,972
Depreciation of premises and equipment 1,440 1,325
Deferred income tax expense (benefit) 427 (824)
Net periodic employee benefit cost 158 181
Pension contributions (1,000) 0
Unrealized and realized investment securities (gains) losses, net (232) 2,339
Gain from the sale of VISA shares 0 (17,837)
Stock-compensation expense 1,153 1,009
Excess tax benefit from stock-compensation expense (56) (121)
Increase in value of bank-owned life insurance (1,460) (1,676)
Loans originated for sale (4,682) (2,327)
Proceeds from the sale of loans originated for sale 4,733 2,229
Gain on sale of loans (51) (77)
Change in accrued interest receivable (438) (1,001)
Change in other assets 1,318 (5,580)
Change in other liabilities (3,273) 8,937
Net Cash Provided by Operating Activities 19,401 23,127
Investing Activities    
Net decrease in loans 75,822 6,442
Purchases (66,424) (94,151)
Proceeds from sales 0 26,090
Proceeds from maturities and calls 49,368 20,644
Other investments: Purchases (24) (1,357)
Other investments: Proceeds from sales 452 624
Proceeds from the sale of VISA shares 0 17,837
Purchases of premises and equipment (1,048) (3,329)
Proceeds from the disposals of premises and equipment 0 119
Proceeds from the disposition of assets held-for-sale 0 440
Proceeds from bank-owned life insurance policies 1,723 1,412
Payments for low income housing tax credits (1,218) (346)
Net Cash Provided by (Used in) Investing Activities 58,651 (25,575)
Financing Activities    
Net increase in non-interest-bearing deposits 67,185 52,414
Net increase (decrease) in interest-bearing deposits 77,482 (76,100)
Net increase in short-term borrowings 20,047 22,892
Repayment of long-term debt 0 (4,124)
Purchases of treasury stock (5,762) (12,971)
Proceeds from exercise of stock options 385 122
Dividends paid (9,249) (9,293)
Net Cash Provided by (Used in) Financing Activities 150,088 (27,060)
Increase (Decrease) in Cash and Cash Equivalents 228,140 (29,508)
Cash and cash equivalents at beginning of period 528,659 140,144
Cash and Cash Equivalents at End of Period 756,799 110,636
Supplemental Cash Flow Information:    
Cash paid for interest 3,863 8,118
Cash paid for income taxes $ 0 $ 0