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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 30,316 $ 30,683
Adjustments to reconcile net income to net cash provided by operations:    
Provision for credit loss expense 3,695 4,548
Depreciation and amortization of premises and equipment, operating leases assets, core deposit intangible, and mortgage servicing rights 3,842 3,483
Accretion of securities, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income (2,164) (1,741)
Net amortization of deferred costs on borrowings 151 151
Accretion of deferred PPP processing fees (3) (1,796)
Net realized gains on sales of available-for-sale securities (52) (651)
Net realized and unrealized losses on equity securities 530 1,035
Gain on sale of loans held for sale (212) (930)
Net losses on dispositions of premises and equipment and foreclosed assets 27 40
Proceeds from sale of loans receivable 7,561 17,367
Origination of loans held for sale (9,737) (23,168)
Income on bank owned life insurance (1,457) (1,254)
Gain on bank owned life insurance (death benefit proceeds in excess of cash surrender value) 0 (830)
Restricted stock compensation expense 961 757
Change in:    
Accrued interest receivable and other assets (2,484) (13,770)
Accrued interest payable, lease liabilities, and other liabilities (14,578) 7,891
NET CASH PROVIDED BY OPERATING ACTIVITIES 16,396 21,815
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities, prepayments and calls of available-for-sale securities 20,168 47,229
Proceeds from sales of available-for-sale securities 13,151 22,164
Purchase of available-for-sale securities (13,203) (43,055)
Proceeds from maturities, prepayments and calls of held-to-maturity securities 11,011 14,707
Purchases of held-to-maturity securities 0 (213,853)
Purchase of equity securities (181) (208)
Proceeds from loans classified as portfolio loans 4,994 0
Net increase in loans receivable (192,961) (265,410)
Purchase of bank owned life insurance 0 (2,750)
Redemption (purchase) of FHLB, other equity, and restricted equity interests 2,832 (1,208)
Purchase of premises and equipment (7,158) (3,991)
Purchase of other intangible assets (125) 0
Proceeds from the sale of premises and equipment and foreclosed assets 52 47
NET CASH USED BY INVESTING ACTIVITIES (161,420) (446,328)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in checking, money market and savings accounts 202,355 68,376
Net increase (decrease) in certificates of deposit 108,283 (82,175)
Purchase of treasury stock (4,820) (1,671)
Cash dividends paid, common stock (7,370) (5,911)
Cash dividends paid, preferred stock (2,150) (2,150)
Net change in short-term borrowings (132,396) 0
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES 163,902 (23,531)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 18,878 (448,044)
CASH AND CASH EQUIVALENTS, Beginning 106,285 732,198
CASH AND CASH EQUIVALENTS, Ending 125,163 284,154
Cash paid during the period for:    
Interest 43,474 8,530
Income taxes 4,724 6,958
SUPPLEMENTAL NONCASH DISCLOSURES:    
Transfers to other real estate owned 161 0
Transfers from loans held for sale to loans held for investment 1,064 6,352
Transfers from loans held for investment to loans held for sale 166 0
Transfers from available-for-sale to held-to-maturity 0 220,757
Grant of restricted stock awards from treasury stock 2,743 976
Grant of performance based restricted stock awards from treasury stock 111 173
Restricted stock forfeiture 63 27
Lease liabilities arising from obtaining right-of-use assets $ 5,001 $ 6,188