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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 56,990 $ 54,850
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 3,553 8,839
Depreciation of premises and equipment 4,096 3,752
Net amortization of investment securities premiums and discounts 794 873
Amortization, fair market value adjustments and capitalization of servicing rights 3,290 (350)
Net gain on sales of investment securities (18) 0
Net gain on mortgage banking activities (3,945) (2,880)
Bank owned life insurance income (2,849) (2,362)
Stock-based compensation 3,414 3,229
Intangible expenses 539 726
Other adjustments to reconcile net income to cash used in operating activities (1,881) (1,105)
Originations of loans held for sale (235,166) (165,076)
Proceeds from the sale of loans held for sale 234,788 162,728
Contributions to pension and other postretirement benefit plans (187) (186)
Increase in accrued interest receivable and other assets (14,980) (8,200)
(Decrease) increase in accrued interest payable and other liabilities (1,376) 7,029
Net cash provided by operating activities 47,062 61,867
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 2,450 1,032
Purchases of premises and equipment (2,467) (5,220)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 10,462 11,225
Proceeds from maturities, calls and principal repayments of securities available-for-sale 43,146 24,052
Proceeds from sales of securities available-for-sale 505 0
Purchases of investment securities held-to-maturity (2,640) (6,253)
Purchases of investment securities available-for-sale (37,794) (19,348)
Proceeds from sales of equity securities 3,437 252
Purchases of money market mutual funds (2,482) (1,845)
Net decrease (increase) in other investments 264 (8,576)
Proceeds from sale of loans originally held-for-investment 0 19,631
Net increase in loans and leases (165,648) (481,200)
Proceeds from sales of foreclosed / repossessed assets 68 260
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 (155,250) (473,852)
Cash flows from financing activities:    
Net increase in deposits 478,350 525,619
Net increase (decrease) in short-term borrowings 1,950 (182,465)
Proceeds from issuance of long-term debt 0 250,000
Repayment of long-term debt (85,000) (25,000)
Payment of contingent consideration on acquisitions (635) (635)
Payment for shares withheld to cover taxes on vesting of restricted stock units (859) (1,232)
Purchases of treasury stock (14,706) 0
Stock issued under dividend reinvestment and employee stock purchase plans 1,855 1,979
Proceeds from exercise of stock options 877 114
Cash dividends paid (18,743) (18,853)
Net cash provided by financing activities 363,089 549,527
Net decrease in cash and cash equivalents 254,901 137,542
Cash and cash equivalents at beginning of year 249,799 152,799
Cash and cash equivalents at end of period 504,700 290,341
Supplemental disclosures of cash flow information:    
Cash paid for interest 140,759 93,435
Cash paid for income taxes, net of refunds 15,740 13,232
Transfer of loans to other real estate owned 407 79
Transfer of leases to repossessed assets 167 0
Transfer of loans to loans held for sale $ 0 $ 25,646