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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 34,960 $ 28,516
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,057 2,133
Amortization of right-of-use asset 3,231 3,167
Net gain on sale of other real estate owned (73) (86)
Writedown of other real estate owned 0 121
(Credit) provision for credit losses (691) 350
Deferred tax expense (benefit) 1,281 (19)
Net amortization of securities 1,289 2,099
Net gain on sale of bank premises and equipment (314) 1
Decrease (increase) in taxes receivable 3,077 (166)
Increase in interest receivable (1,627) (62)
Decrease in interest payable (21) (227)
Increase in other assets (3,378) (1,610)
Decrease in operating lease liabilities (3,427) (3,305)
Decrease in accrued expenses and other liabilities (3,371) (3,197)
Total adjustments (1,967) (801)
Net cash provided by operating activities 32,993 27,715
Cash flows from investing activities:    
Proceeds from sales, paydowns and calls of securities available for sale 43,338 76,450
Proceeds from paydowns of held to maturity securities 1,335 2,093
Purchases of securities available for sale (172,771) (132,456)
Proceeds from maturities of securities available for sale 10,050 5,055
Purchases of Federal Home Loan Bank stock (193) (98)
Net increase in loans (101,990) (104,687)
Proceeds from dispositions of other real estate owned 166 255
Proceeds from dispositions of bank premises and equipment 469 4
Purchases of bank premises and equipment (1,566) (1,417)
Net cash used in investing activities (221,162) (154,801)
Cash flows from financing activities:    
Net increase in deposits 128,712 193,327
Net increase in short-term borrowings (97,404) 23,036
Proceeds from exercise of stock options 0 130
Cash used to settle fractional shares in the Reverse Stock Split 0 200
Purchases of treasury stock (2,971) (778)
Dividends paid (13,454) (13,140)
Net cash provided by financing activities 14,883 202,775
Net increase in cash and cash equivalents (173,286) 75,689
Cash and cash equivalents at beginning of period 1,219,470 1,107,099
Cash and cash equivalents at end of period 1,046,184 1,182,788
Cash paid during the year for:    
Interest paid 2,342 4,548
Income taxes paid 8,303 9,665
Other non cash items:    
Transfer of loans to other real estate owned 375 0
(Decrease) Increase in dividends payable (8) 0
Change in unrealized (loss) gain on securities available for sale-gross of deferred taxes (28,436) (5,174)
Change in deferred tax effect on unrealized loss (gain) on securities available for sale 7,356 1,335
Amortization of net actuarial gain and prior service cost (credit) on pension and postretirement plans (661) (347)
Change in deferred tax effect of amortization of net actuarial gain postretirement benefit plans 172 90
Security purchase settled in subsequent period (5,000) 0
Impact to retained earnings from adoption of ASC 326, net of tax $ (3,470) $ 0