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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net Income $ 30,224 $ 27,726
Provision for Loan and Lease Losses 8,003 1,964
Deferred tax expense 2,218 1,807
Depreciation and amortization 1,847 2,560
Net gains on securities and other assets (2,330) (3,908)
Net amortization of premiums and discounts on securities 378 635
Income from increase in cash surrender value of bank owned life insurance (1,190) (1,508)
Decrease in interest receivable 645 45
Mortgage loans originated for sale (31,165) (51,833)
Proceeds from sale of mortgage loans 32,462 58,198
Increase in interest payable 2,146 1,282
Increase (decrease) in income taxes payable 5,512 (4,137)
Increase (Decrease) in Other Operating Assets and Liabilities, Net 10,150 1,632
Net cash provided by operating activities 38,600 31,199
Investing Activities    
Payments to Acquire Held-to-maturity Securities 0 (200)
Proceeds from maturities and redemptions of available-for-sale securities 30,686 0
Proceeds from maturities and redemptions of available-for-sale securities 25,791 50,521
Proceeds from sale and maturity of held-to-maturity securities 9,733 28,369
Purchases of FHLB stock (18,262) (505)
Proceeds from the redemption of FHLB stock 21,134 201
Proceeds from Life Insurance Policy 1,216 0
Proceeds from Sale of Loans Receivable 30,425 21,767
Proceeds from sale of other assets 846 1,461
Net cash received from business acquisition 14,492 0
Net increase in loans and leases (95,513) (133,137)
Payments for Purchase of Other Assets (9,433) (4,419)
Net cash provided by (used in) investing activities 11,115 (35,942)
Financing Activities    
Net decrease in other short-term borrowings (266,450) (42,566)
Net increase in deposits 472,706 189,364
Repayments of other long-term debt (183) (175)
Repayments of Long-term Capital Lease Obligations (131) (122)
Payments of Dividends (12,367) (10,837)
Purchase of treasury stock (1,732) (1,488)
Net cash provided by financing activities 191,843 134,176
Net increase in cash and cash equivalents 241,558 129,433
Cash and cash equivalents at January 1 154,244 395,372
Cash and cash equivalents at March 31 $ 395,802 $ 524,805