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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income $ 64,694 $ 67,374
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and (accretion), net 6,225 2,911
(Recovery of) provision for credit losses (3,165) 10,248
Depreciation of premises and equipment 4,373 4,285
Deferred income tax expense 1,805 1,035
Net periodic employee benefit cost 443 542
Pension contributions (1,000) (450)
Gains on sale of investment securities, net 763 (1,642)
Gain from the sale of VISA shares 0 (17,837)
Stock-compensation expense 2,430 2,455
Excess tax benefit from stock-compensation expense (397) (160)
Increase in value of bank-owned life insurance (3,147) (3,611)
Loans originated for sale (28,601) (19,345)
Proceeds from the sale of loans originated for sale 28,591 19,790
Gain on sale of loans (271) (277)
Change in accrued interest receivable (431) (5,058)
Change in other assets (6,486) (14,550)
Change in other liabilities 9,393 13,398
Net Cash Provided by Operating Activities 73,693 62,392
Investing Activities    
Net decrease (increase) in loans 99,342 (45,316)
Purchases 438,625 393,932
Proceeds from sales 0 28,548
Proceeds from maturities and calls 213,579 96,021
Purchases (116) (2,173)
Proceeds from sales 4,756 2,386
Proceeds from the sale of VISA shares 0 17,837
Purchases of premises and equipment (2,931) (4,351)
Proceeds from the disposals of premises and equipment 367 134
Proceeds from the disposition of assets held-for-sale 0 440
Proceeds from bank-owned life insurance policies 2,148 1,940
Payments for low income housing tax credits (1,692) (807)
Net Cash Used in Investing Activities (123,172) (299,273)
Financing Activities    
Net increase in non-interest-bearing deposits 134,474 256,223
Net increase in interest-bearing deposits 100,931 88,425
Net increase in short-term borrowings 686 68,611
Repayment of long-term debt 0 (4,124)
Purchases of treasury stock (48,321) (31,600)
Proceeds from exercise of stock options 622 223
Lease payments (632) (652)
Dividends paid (27,391) (27,651)
Net Cash Provided by Financing Activities 160,369 349,455
Increase in Cash and Cash Equivalents 110,890 112,574
Cash and cash equivalents at beginning of period 528,659 140,144
Cash and Cash Equivalents at End of Period 639,549 252,718
Supplemental Cash Flow Information:    
Cash paid for interest 9,111 20,491
Cash paid for income taxes $ 14,400 $ 21,975