XML 75 R8.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 28,967 $ 26,288
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Gain on sales of mortgage loans (154)  
Net gains on sales of securities (61) (302)
Net (gain) loss on equity securities (76) 47
Provision for loan losses 700 900
Deferred income taxes (593) (1,270)
Net depreciation and amortization (1,693) 1,116
Decrease (increase) in accrued interest receivable 1,131 (1,699)
(Increase) decrease in other assets (1,037) 1,542
Increase in other liabilities 2,029 4,825
Net cash provided by operating activities 29,213 31,447
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from redemptions of Federal Home Loan Bank of Boston stock 13,801 13,619
Purchase of Federal Home Loan Bank of Boston stock (9,852) (14,583)
Proceeds from calls/maturities of securities available-for-sale 115,574 111,922
Proceeds from sales of securities available-for-sale 16,285 27,517
Purchase of securities available-for-sale (57,005) (108,871)
Proceeds from calls/maturities of securities held-to-maturity 313,358 187,009
Purchase of securities held-to-maturity (427,124) (358,824)
Proceeds from sales of securities held-to-maturity 1,194  
Proceeds from life insurance policies 5,124 375
Net increase in loans (98,915) (83,967)
Proceeds from sales of portfolio loans 8,871  
Capital expenditures (9,962) (2,900)
Net cash used in investing activities (128,651) (228,703)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net decrease in time deposits (27,505) (45,475)
Net decrease (increase) in demand, savings, money market and NOW deposits (39,606) 92,915
Cash dividends (1,654) (1,652)
Net increase (decrease) in securities sold under agreements to repurchase 152,995 (18,500)
Net increase in other borrowed funds 6,810 24,828
Net cash provided by financing activities 91,040 52,116
Net decrease in cash and cash equivalents (8,398) (145,140)
Cash and cash equivalents at beginning of period 342,503 356,430
Cash and cash equivalents at end of period 334,105 211,290
Cash paid (received) during the period for:    
Interest 48,127 30,680
Income tax refunds (6,604)  
Income taxes   590
Change in unrealized gains (losses) on securities available-for-sale, net of taxes (156) 195
Change in unrealized losses on securities transferred to held-to-maturity, net of taxes 574 872
Pension liability adjustment, net of taxes $ 790 877
Change in due to (from) to broker   $ 897