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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 34,118 $ 34,960
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,021 2,057
Amortization of right-of-use asset 3,267 3,231
Net gain on sale of other real estate owned (175) (73)
Writedown of other real estate owned 107 0
(Credit) provision for credit losses (200) (691)
Deferred tax expense (benefit) 1,965 1,281
Net amortization of securities 900 1,289
Net gain on sale of bank premises and equipment 0 (314)
Decrease in taxes receivable 1,394 3,077
Increase in interest receivable (270) (1,627)
Increase (decrease) in interest payable 1,444 (21)
Increase in other assets (3,884) (3,378)
Decrease in operating lease liabilities (3,461) (3,427)
Decrease in accrued expenses and other liabilities (2,779) (3,371)
Total adjustments 329 (1,967)
Net cash provided by operating activities 34,447 32,993
Cash flows from investing activities:    
Proceeds from sales, paydowns and calls of securities available for sale 29,469 43,338
Proceeds from paydowns of held to maturity securities 637 1,335
Purchases of securities available for sale (5,000) (172,771)
Proceeds from maturities of securities available for sale 5,000 10,050
Purchases of Federal Home Loan Bank stock (406) (193)
Net increase in loans (153,328) (101,990)
Proceeds from dispositions of other real estate owned 718 166
Proceeds from dispositions of bank premises and equipment 0 469
Purchases of bank premises and equipment (1,816) (1,566)
Net cash used in investing activities (124,726) (221,162)
Cash flows from financing activities:    
Net increase in deposits 65,637 128,712
Net increase in short-term borrowings (8,935) (97,404)
Purchases of treasury stock 0 (2,971)
Dividends paid (13,665) (13,454)
Net cash provided by financing activities 43,037 14,883
Net decrease in cash and cash equivalents (47,242) (173,286)
Cash and cash equivalents at beginning of period 650,599 1,219,470
Cash and cash equivalents at end of period 603,357 1,046,184
Cash paid during the year for:    
Interest paid 10,586 2,342
Income taxes paid 9,981 8,303
Other non cash items:    
Transfer of loans to other real estate owned 0 375
Increase (Decrease) in dividends payable 33 (8)
Change in unrealized gain (loss) on securities available for sale-gross of deferred taxes 1,533 (28,436)
Change in deferred tax effect on unrealized (gain) loss on securities available for sale (387) 7,356
Amortization of net actuarial gain and prior service cost (credit) on pension and postretirement plans (222) (661)
Change in deferred tax effect of amortization of net actuarial gain postretirement benefit plans 58 172
Security purchase settled in subsequent period 0 (5,000)
Impact to retained earnings from adoption of ASC 326, net of tax $ 0 $ (3,470)