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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 52,909 $ 54,024 $ 31,959
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for (Release of) credit losses 3,881 (1,294) 18,310
Amortization (accretion) of deferred charges and fees, net 2,282 (1,434) (780)
Depreciation (accretion), and amortization, net 726 (1,838) (8,134)
Bank owned life insurance income (1,808) (801) (747)
(Gain) loss on disposition of investment securities     (69)
Share-based compensation and other share-based activity 1,959 2,279 4,564
Change in accrued interest receivable (4,280) 352 253
Deferred income tax expense 587 2,899 (665)
Change in loans held for sale 1,490 5,419 (5,363)
Change in other assets, net (32,056) 5,473 (22,863)
Change in other liabilities, net 26,260 429 20,332
Net cash provided by operating activities 51,950 65,508 36,797
CASH FLOWS FROM INVESTING ACTIVITIES      
Origination of loans (1,265,305) (1,327,044) (1,070,321)
Proceeds from principal payments of loans 850,886 1,170,430 1,022,516
Purchase of loans (23,655)    
Proceeds from calls/maturities of securities available for sale 29,040 42,169 47,087
Purchase of securities available for sale (10,170) (9,927) (140,570)
Proceeds from sales of securities 19,018   10,821
Proceeds from calls/maturities of securities held to maturity 132,173 70,800 56,007
Purchase of securities held to maturity (205,137) (801,775) (33,818)
Death benefit on bank-owned life insurance 4,025    
Redemption on bank-owned life insurance 10,759    
(Purchase) redemption of FHLB of Boston stock (1,215) 918 8,505
Purchase of banking premises and equipment (1,776) (2,033) (2,218)
Net cash acquired in business combinations 82,174   43,063
Net cash used in investing activities (379,183) (856,462) (58,928)
CASH FLOWS FROM FINANCING ACTIVITIES      
Change in demand, interest bearing, money market and savings accounts (216,751) 1,020,821 422,866
Change in certificates of deposit 327,938 (92,552) (138,213)
Change in short term borrowings 85,026 (16,393) (224,989)
Redemption of subordinated debt     (10,000)
Cash dividends paid on common stock (18,414) (16,554) (13,083)
Net cash provided by financing activities 177,799 895,322 36,581
Net change in cash and cash equivalents (149,434) 104,368 14,450
Cash and cash equivalents at beginning of period 180,153 75,785 61,335
Cash and cash equivalents at end of period 30,719 180,153 75,785
Cash paid during the period for:      
Interest 15,805 5,656 9,172
Income taxes 21,822 $ 9,054 14,628
Significant non-cash transactions      
Transfer of other real estate owned     2,293
Common Stock issued to shareholders due to merger 62,850   87,163
Fair value of assets acquired, net of cash acquired 346,501   961,668
Fair value of liabilities assumed $ 378,453   $ 917,569