XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 33,325 $ 30,609
Adjustments to reconcile net income to net cash provided by operating activities:    
Net (gain) loss on equity securities (12) 43
(Credit) provision for loan losses (750) 3,675
Deferred income taxes (1,129) (1,487)
Net depreciation and amortization (accretion) 1,872 (1,167)
Increase in accrued interest receivable (130) (113)
Decrease in other assets 928 3,897
Increase in other liabilities 8,187 3,396
Net cash provided by operating activities 42,291 38,853
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from redemptions of Federal Home Loan Bank of Boston stock 1,767 10,836
Purchase of Federal Home Loan Bank of Boston stock   (4,726)
Proceeds from calls/maturities of securities available-for-sale 95,808 57,493
Purchase of securities available-for-sale (16,155) (87,751)
Proceeds from calls/maturities of securities held-to-maturity 717,320 596,043
Purchase of securities held-to-maturity (1,418,979) (638,023)
Net decrease (increase) in loans 70,407 (563,850)
Bank owned life insurance purchases   (6,000)
Capital expenditures (5,783) (5,873)
Net cash used in investing activities (555,615) (641,851)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (decrease) increase in time deposits (197,847) 26,419
Net increase in demand, savings, money market and NOW deposits 950,002 985,941
Cash dividends (2,493) (1,753)
Net increase (decrease) in securities sold under agreements to repurchase 37,871 (35,015)
Net decrease in other borrowed funds (58,223) (218,707)
Net cash provided by financing activities 729,310 756,885
Net increase (decrease) in cash and cash equivalents 215,986 153,887
Cash and cash equivalents at beginning of period 374,000 258,693
Cash and cash equivalents at end of period 589,986 412,580
Cash paid during the period for:    
Interest 17,891 34,384
Income taxes 4,980 1,750
Change in unrealized gains (losses) on securities available-for-sale, net of taxes 932 445
Change in unrealized losses on securities transferred to held-to-maturity, net of taxes 391 471
Pension liability adjustment, net of taxes 1,218 1,081
Change in due to broker   $ 9,977
Dividends declared and not paid $ 831