XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 38,412 $ 37,834
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 2,139 6,815
Depreciation of premises and equipment 2,718 2,450
Net amortization of investment securities premiums and discounts 521 569
Amortization, fair market value adjustments and capitalization of servicing rights 2,899 3
Net gain on mortgage banking activities (2,649) (1,664)
Bank owned life insurance income (1,928) (1,556)
Stock-based compensation 2,231 2,115
Intangible expenses 375 506
Other adjustments to reconcile net income to cash used in operating activities (1,107) (948)
Originations of loans held for sale (138,398) (87,921)
Proceeds from the sale of loans held for sale 124,758 84,694
Contributions to pension and other postretirement benefit plans (126) (85)
Increase in accrued interest receivable and other assets (18,716) (6,601)
(Decrease) increase in accrued interest payable and other liabilities (2,972) 3,852
Net cash provided by operating activities 8,157 40,063
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 2,445 693
Purchases of premises and equipment (1,852) (4,274)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 6,583 7,266
Proceeds from maturities, calls and principal repayments of securities available-for-sale 32,931 15,260
Purchases of investment securities held-to-maturity (1,100) (6,252)
Purchases of investment securities available-for-sale (27,351) (19,348)
Proceeds from sales of money market mutual funds 2,103 242
Purchases of money market mutual funds (1,847) (1,220)
Net decrease (increase) in other investments 3,061 (8,970)
Proceeds from sale of loans originally held-for-investment 0 175
Net increase in loans and leases (119,483) (361,702)
Proceeds from sales of other real estate owned 0 260
Purchases of bank owned life insurance (5,710) (7,862)
Proceeds from bank owned life insurance 1,159 0
Net cash used in investing activities (109,061) (385,732)
Cash flows from financing activities:    
Net increase in deposits 119,529 73,863
Net increase in short-term borrowings 5,475 47,525
Proceeds from issuance of long-term debt 0 250,000
Repayment of long-term debt (60,000) (25,000)
Payment of contingent consideration on acquisitions (635) (635)
Payment for shares withheld to cover taxes on vesting of restricted stock units (857) (1,230)
Purchases of treasury stock 10,516 0
Stock issued under dividend reinvestment and employee stock purchase plans 1,268 1,309
Proceeds from exercise of stock options 373 114
Cash dividends paid (12,621) (12,665)
Net cash provided by financing activities 42,016 333,281
Net decrease in cash and cash equivalents (58,888) (12,388)
Cash and cash equivalents at beginning of year 249,799 152,799
Cash and cash equivalents at end of period 190,911 140,411
Supplemental disclosures of cash flow information:    
Cash paid for interest 91,937 53,708
Cash paid for income taxes, net of refunds 11,090 7,845
Transfer of loans to other real estate owned 252 0
Transfer of leases to repossessed assets 167 0
Transfer of loans to loans held for sale $ 0 $ 19,895