XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 42,373 $ 38,412
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 8,005 2,139
Depreciation of premises and equipment 2,731 2,718
Net amortization of investment securities premiums and discounts 480 521
Amortization, fair market value adjustments and capitalization of servicing rights 81 2,899
Net gain on mortgage banking activities (1,628) (2,649)
Bank owned life insurance income (2,971) (1,928)
Stock-based compensation 2,252 2,231
Intangible expenses 261 375
Other adjustments to reconcile net income to cash used in operating activities (1,567) (1,107)
Originations of loans held for sale (95,067) (138,398)
Proceeds from the sale of loans held for sale 95,735 124,758
Contributions to pension and other postretirement benefit plans (125) (126)
Increase in accrued interest receivable and other assets (3,526) (18,716)
Decrease in accrued interest payable and other liabilities (8,176) (2,972)
Net cash provided by operating activities 38,858 8,157
Cash flows from investing activities:    
Proceeds from sale of premises and equipment 305 2,445
Purchases of premises and equipment (3,293) (1,852)
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 6,727 6,583
Proceeds from maturities, calls and principal repayments of securities available-for-sale 24,025 32,931
Purchases of investment securities held-to-maturity (1,236) (1,100)
Purchases of investment securities available-for-sale (22,380) (27,351)
Proceeds from sales of equity securities 2,955 2,103
Purchases of money market mutual funds (2,250) (1,847)
Net decrease in other investments 2,498 3,061
Net decrease (increase) in loans and leases 14,283 (119,483)
Proceeds from sales of foreclosed / repossessed assets 239 0
Purchases of bank owned life insurance 0 (5,710)
Proceeds from bank owned life insurance 2,236 1,159
Net cash provided by (used in) investing activities 24,109 (109,061)
Cash flows from financing activities:    
Net (decrease) increase in deposits (176,602) 119,529
Net (decrease) increase in short-term borrowings (4,910) 5,475
Proceeds from issuance of long-term debt 50,000 0
Repayment of long-term debt (75,000) (60,000)
Payment of contingent consideration on acquisitions (635) (635)
Payment for shares withheld to cover taxes on vesting of restricted stock units (1,582) (857)
Purchases of treasury stock (11,440) (10,516)
Stock issued under dividend reinvestment and employee stock purchase plans 1,149 1,268
Proceeds from exercise of stock options 323 373
Cash dividends paid (12,749) (12,621)
Net cash (used in) provided by financing activities (231,446) 42,016
Net decrease in cash and cash equivalents (168,479) (58,888)
Cash and cash equivalents at beginning of year 328,844 249,799
Cash and cash equivalents at end of period 160,365 190,911
Supplemental disclosures of cash flow information:    
Cash paid for interest 98,926 91,937
Cash paid for income taxes, net of refunds 11,310 11,090
Transfer of loans to other real estate owned 2,526 252
Transfer of leases to repossessed assets $ 17 $ 167