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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income $ 41,962 $ 47,249
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and (accretion), net 4,036 873
(Recovery of) provision for credit losses (2,440) 9,222
Depreciation of premises and equipment 2,906 2,772
Deferred income tax expense 1,889 2,323
Net periodic employee benefit cost 317 362
Pension contributions (1,000) (450)
Unrealized and realized investment securities (gains) losses, net (670) 2,103
Gain from the sale of VISA shares 0 (17,837)
Stock-compensation expense 1,778 1,702
Excess tax benefit from stock-compensation expense (221) (137)
Increase in value of bank-owned life insurance (2,399) (2,523)
Loans originated for sale (17,723) (9,372)
Proceeds from the sale of loans originated for sale 17,295 9,854
Gain on sale of loans (154) (177)
Change in accrued interest receivable (174) (2,631)
Change in other assets (9,956) (9,515)
Change in other liabilities 4,881 16,334
Net Cash Provided by Operating Activities 40,327 50,152
Investing Activities    
Net decrease (increase) in loans 92,250 (46,146)
Purchases (316,479) (232,478)
Proceeds from sales 0 28,548
Proceeds from maturities and calls 136,560 51,246
Other investments: Purchases (116) (2,132)
Other investments: Proceeds from sales 3,619 2,282
Proceeds from the sale of VISA shares 0 17,837
Purchases of premises and equipment (2,561) (3,798)
Proceeds from the disposals of premises and equipment 366 134
Proceeds from the disposition of assets held-for-sale 0 440
Proceeds from bank-owned life insurance policies 2,147 1,513
Payments for low income housing tax credits (1,559) (716)
Net Cash Used in Investing Activities (85,773) (183,270)
Financing Activities    
Net increase in non-interest-bearing deposits 102,942 274,382
Net increase in interest-bearing deposits 49,485 61,150
Net increase in short-term borrowings 15,360 71,421
Repayment of long-term debt 0 (4,124)
Purchases of treasury stock (22,843) (17,864)
Proceeds from exercise of stock options 537 189
Repayments of Debt and Lease Obligation (431) (434)
Dividends paid (18,373) (18,492)
Net Cash Provided by Financing Activities 126,677 366,228
Increase in Cash and Cash Equivalents 81,231 233,110
Cash and cash equivalents at beginning of period 528,659 140,144
Cash and Cash Equivalents at End of Period 609,890 373,254
Supplemental Cash Flow Information:    
Cash paid for interest 6,851 14,878
Cash paid for income taxes $ 10,650 $ 2,400