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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 29,517,000 $ 64,282,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred loan costs, fees and purchased premiums and discounts 4,349,000 4,748,000
Net amortization of premiums and discounts on securities 1,419,000 2,219,000
Net amortization of mortgage servicing rights 178,000 181,000
Amortization of intangible assets 1,777,000 1,369,000
Depreciation and amortization of office properties and equipment 5,808,000 5,456,000
Amortization of operating lease right-of-use assets 2,933,000 2,865,000
Provision for credit losses 3,632,000 4,514,000
Loss (gain) on securities transactions 10,847,000 (210,000)
Change in fair value of equity securities (249,000) 332,000
Gain on sale of loans, net (1,060,000) (109,000)
Net loss on disposal of office properties and equipment 37,000 147,000
Deferred tax (benefit)expense (2,521,000) (3,487,000)
Increase in accrued interest receivable (3,118,000) (942,000)
(Increase) decrease in other assets (18,618,000) 2,114,000
Decrease in accrued expenses and other liabilities 34,773,000 24,951,000
Income on bank-owned life insurance (5,670,000) (5,501,000)
Employee stock ownership plan expense 3,111,000 3,623,000
Stock based compensation 6,156,000 5,787,000
Decrease in deferred compensation obligations under Rabbi Trust (112,000) (128,000)
Net cash provided by operating activities 73,189,000 112,211,000
Cash flows from investing activities:    
Proceeds from sales of debt securities available for sale 277,022,000 126,772,000
Proceeds from paydowns/maturities/calls of debt securities available for sale 79,287,000 226,887,000
Proceeds from paydowns/maturities/calls of debt securities held to maturity 9,476,000 27,645,000
Purchases of debt securities available for sale (75,314,000) (142,181,000)
Purchases of debt securities held to maturity 0 (23,298,000)
Proceeds from sales of loans held-for-sale 109,429,000 6,187,000
Purchases of loans receivable (14,729,000) 0
Net increase in loans receivable (263,990,000) (639,970,000)
Proceeds from bank-owned life insurance death benefits 605,000 776,000
Proceeds from redemptions of Federal Home Loan Bank stock 71,666,000 60,176,000
Purchases of Federal Home Loan Bank stock (85,421,000) (73,855,000)
Proceeds from sales of office properties and equipment 0 1,009,000
Additions to office properties and equipment (5,312,000) (4,863,000)
Net cash acquired in acquisition 0 140,769,000
Net cash provided by (used in) investing activities 102,719,000 (293,946,000)
Cash flows from financing activities:    
Net decrease in deposits (297,993,000) (8,055,000)
Proceeds from long-term borrowings 311,113,000 35,893,000
Payments on long-term borrowings (11,300,000) 0
Net (decrease) increase in short-term borrowings (70,642,000) 255,054,000
(Decrease) increase in advance payments by borrowers for taxes and insurance (3,043,000) 6,651,000
Issuance of common stock for restricted stock awards 9,000 0
Exercise of stock options (24,000) (445,000)
Purchase of treasury stock (78,295,000) (71,766,000)
Repurchase of shares for taxes (477,000) (4,512,000)
Net cash (used in) provided by financing activities (150,652,000) 212,820,000
Net increase in cash and cash equivalents 25,256,000 31,085,000
Cash and cash equivalents at beginning of year 179,228,000 70,963,000
Cash and cash equivalents at end of period 204,484,000 102,048,000
Cash paid during the period for:    
Interest on deposits and borrowings 124,003,000 23,316,000
Income tax payments, net of refunds 6,281,000 13,229,000
Non-cash investing and financing activities:    
Transfer of loans receivable to loans held-for-sale 109,072,000 6,078,000
Excise tax on net stock repurchases 807,000 0
Non-cash assets acquired:    
Debt securities available for sale 0 79,024,000
Equity securities 0 1,075,000
Federal Home Loan Bank stock 0 906,000
Loans receivable 0 335,501,000
Accrued interest receivable 0 910,000
Office properties and equipment, net 0 7,296,000
Goodwill and intangibles 0 38,274,000
Deferred tax asset, net 0 3,633,000
Bank-owned life insurance 0 13,033,000
Other assets 0 2,723,000
Total non-cash assets acquired 0 482,375,000
Liabilities assumed:    
Deposits 0 502,732,000
Borrowings 0 5,762,000
Advance payments by borrowers for taxes and insurance 0 1,341,000
Accrued expenses and other liabilities 0 10,568,000
Total liabilities assumed 0 520,403,000
Net non-cash liabilities assumed 0 (38,028,000)
Net cash and cash equivalents acquired in acquisition $ 0 $ 140,769,000