XML 20 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 31,045 $ 29,533
Adjustments to reconcile net income to net cash provided by operating activities:    
Originations of loans held for sale (33,919) (149,948)
Proceeds from loan sales 38,184 153,832
Loss on sale of loans 281 3,621
Provision for credit losses 2,217 (1,428)
Net amortization of securities 2,287 3,788
Change in unamortized net loan costs and premiums 353 (2,739)
Premises and equipment depreciation 3,186 3,466
Stock-based compensation expense 716 1,364
Accretion of purchase accounting entries, net   10
Amortization of other intangibles 699 704
Income from cash surrender value of bank-owned life insurance policies (1,501) (1,510)
Gain on sales of securities, net (53) (1,980)
Amortization of right-of-use lease assets 893 851
Decrease in lease liabilities (851) (786)
Gain on premises and equipment, net (65) (137)
Net change in other assets and liabilities (2,954) (7,878)
Net cash provided by operating activities 40,518 30,763
Cash flows from investing activities:    
Proceeds from sales of securities available for sale 19,591 54,388
Proceeds from maturities, calls and prepayments of securities available for sale 48,073 99,580
Purchases of securities available for sale (99,294) (123,335)
Net change in loans (319,036) 47,360
Recoveries of previously charged off loans 312 159
Purchase of FHLB stock (2,924) (790)
Proceeds from sale of FHLB stock 1,273 4,634
Purchase of premises and equipment, net (1,842) (1,216)
Net investment in community limited partnerships (1,430) (1,112)
Net cash (used in) provided by investing activities (355,277) 79,668
Cash flows from financing activities:    
Net change in deposits 87,136 101,050
Net change in short-term senior borrowings 92,250 9,324
Repayments of long-term senior borrowings (21,014)  
Net change in short-term other borrowings (886) (89,018)
Net issuance to employee stock plans 368 (6,073)
Cash dividends paid on common stock (11,419) (10,472)
Net cash provided by (used in) financing activities 146,435 4,811
Net change in cash and cash equivalents (168,324) 115,242
Cash and cash equivalents at beginning of year 250,389 226,007
Cash and cash equivalents at end of period 82,065 341,249
Supplemental cash flow information:    
Interest paid 7,028 13,052
Income taxes paid, net $ 6,781 $ 7,755