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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 26,075 $ 41,590
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (Release of) credit losses 335 200
Amortization (accretion) of deferred charges and fees, net 1,889 1,782
Depreciation (accretion), and amortization, net 904 737
Bank owned life insurance income (576) (1,674)
Share-based compensation and other share-based activity 889 1,397
Change in accrued interest receivable (1,137) (2,096)
Deferred income tax expense 2,504 2,103
Change in loans held for sale (614) 1,490
Change in other assets, net (20,249) (45,962)
Change in other liabilities, net 14,407 23,786
Net cash provided by operating activities 24,427 23,353
CASH FLOWS FROM INVESTING ACTIVITIES    
Origination of loans (476,891) (924,800)
Proceeds from principal payments of loans 506,622 640,492
Purchase of loans   (23,655)
Proceeds from calls/maturities of securities available for sale 13,939 24,205
Purchase of securities available for sale   (10,170)
Proceeds from calls/maturities of securities held to maturity 70,557 106,624
Purchase of securities held to maturity   (205,063)
Death benefit on bank-owned life insurance   4,025
Redemption on bank-owned life insurance   10,811
(Purchase) redemption of FHLB of Boston stock (6,057) (7,867)
Purchase of banking premises and equipment (1,245) (1,464)
Net cash provided by (used in) investing activities 106,925 (386,862)
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in demand, interest-bearing, money market and savings accounts (491,221) (105,596)
Change in certificates of deposit 241,540 55,921
Change in borrowings 128,693 277,998
Cash dividends paid on common stock (15,730) (13,425)
Net cash (used in) provided by financing activities (136,718) 214,898
Net change in cash and cash equivalents (5,366) (148,611)
Cash and cash equivalents at beginning of period 30,719 180,153
Cash and cash equivalents at end of period 25,353 31,542
Cash paid during the period for:    
Interest 62,841 8,052
Income taxes $ 11,620 $ 18,917