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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 75,948 $ 74,627 $ 59,313
Proceeds from sales of loans held for sale 103,347 351,391 317,173
Originations of loans held for sale (95,007) (332,289) (316,125)
Items not requiring (providing) cash      
Depreciation 8,498 9,555 10,007
Amortization 1,179 1,583 2,075
Compensation expense for stock option grants 1,437 1,225 1,153
Provision (credit) for credit losses 3,000 (6,700) 15,871
Provision for unfunded commitments 3,187 939 0
Net gain on loan sales (2,584) (9,463) (8,089)
Net realized (gain) loss on available-for-sale securities 130 0 (78)
Gain on sale of premises and equipment (1,023) (1) (37)
Loss (gain) on sale/write-down of other real estate and repossessions (126) (71) 840
Accretion of deferred income, premiums, discounts and other (7,719) (10,262) (6,147)
Loss (gain) on derivative interest rate products (321) (312) 264
Deferred income taxes 2,485 3,712 (11,480)
Changes in      
Interest receivable (8,402) 2,088 362
Prepaid expenses and other assets (24,248) 3,257 (17,163)
Accrued expenses and other liabilities 5,637 (2,495) (612)
Income taxes refundable/payable 1,162 (1,808) (1,279)
Net cash provided by operating activities 66,580 84,976 46,048
Investing Activities      
Net change in loans (134,344) 448,599 (62,493)
Purchase of loans (361,817) (152,797) (92,099)
Cash received for termination of interest rate derivative 0 0 45,864
Purchase of premises and equipment (20,110) (5,739) (8,224)
Proceeds from sale of premises and equipment 3,980 586 781
Proceeds from sale of other real estate and repossessions 2,351 2,230 4,096
Capitalized costs on other real estate owned 0 0 (126)
Proceeds from sale of available-for-sale securities 18,375 0 19,236
Proceeds from repayments of held-to-maturity securities 23,821 0 0
Proceeds from maturities, calls and repayments of available-for-sale securities 51,348 72,149 76,248
Purchase of available-for-sale securities (360,725) (177,466) (118,296)
Redemption (purchase) of Federal Home Loan Bank stock and other interest-earning assets (24,159) 3,151 3,667
Net cash provided by (used in) investing activities (801,280) 190,713 (131,346)
Financing Activities      
Net increase (decrease) in certificates of deposit 321,718 (429,723) (330,306)
Net increase (decrease) in checking and savings accounts (188,909) 464,921 887,114
Net increase (decrease) in short-term borrowings and other interest-bearing liabilities 127,471 (26,737) (146,632)
Advances from (to) borrowers for taxes and insurance 443 (1,389) 52
Proceeds from issuance of subordinated notes 0 0 73,513
Redemption of subordinated notes 0 (75,000) 0
Purchase of the company's common stock (61,847) (39,123) (22,104)
Dividends paid (19,181) (18,800) (33,426)
Stock options exercised 6,258 3,700 661
Net cash provided by (used in) financing activities 185,953 (122,151) 428,872
Increase (Decrease) in Cash and Cash Equivalents (548,747) 153,538 343,574
Cash and Cash Equivalents, Beginning of Year 717,267 563,729 220,155
Cash and Cash Equivalents, End of Year $ 168,520 $ 717,267 $ 563,729