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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 26,974 $ 27,443
Adjustments to reconcile net income to net cash provided by operating activities:    
Release of credit losses (412) (1,107)
Amortization (accretion) of deferred charges and fees, net 1,170 (860)
(Accretion), depreciation, and amortization, net 268 (1,846)
Bank owned life insurance income (1,530) (405)
Share-based compensation and other share-based activity 752 1,459
Change in accrued interest receivable (899) 531
Deferred income tax expense 2,872 2,278
Change in loans held for sale 1,490 5,998
Change in other assets, net (26,817) 6,319
Change in other liabilities, net (2,008) (8,634)
Net cash provided by operating activities 1,860 31,176
CASH FLOWS FROM INVESTING ACTIVITIES    
Origination of loans (624,799) (771,775)
Proceeds from principal payments of loans 445,460 649,435
Purchase of loans (23,655)  
Proceeds from calls/maturities of securities available for sale 17,201 21,852
Purchase of securities available for sale (10,170)  
Proceeds from calls/maturities of securities held to maturity 75,089 27,606
Purchase of securities held to maturity (205,063) (273,345)
Death benefit on bank-owned life insurance 4,068  
Redemption on bank-owned life insurance 10,811  
(Purchase) Redemption of FHLB of Boston stock (5,702) 918
Purchase of banking premises and equipment (647) (725)
Net cash used in investing activities (317,407) (346,034)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in demand, interest bearing, money market and savings accounts (30,766) 402,449
Change in certificates of deposit (36,268) (40,837)
Change in borrowings 236,392 (15,693)
Cash dividends paid on common stock (8,941) (8,057)
Net cash provided by financing activities 160,417 337,862
Net change in cash and cash equivalents (155,130) 23,004
Cash and cash equivalents at beginning of period 180,153 75,785
Cash and cash equivalents at end of period 25,023 98,789
Cash paid during the period for:    
Interest 4,136 2,680
Income taxes $ 15,337 $ 4,890