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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES      
Net Income $ 135,520 $ 110,343 $ 21,040
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 8,366 16,215 131,424
Depreciation and amortization 9,027 11,480 12,066
Net amortization of discounts and premiums 6,062 5,482 4,205
Stock-based compensation expense 3,188 2,427 724
Securities (gains) losses (198) (29) (142)
Deferred income taxes (2,932) 2,383 (4,402)
Loss (gain) on sale of fixed assets 61 30 (23)
Gain on sale and fair value adjustments of other real estate owned, net (3,119) 420 108
Gain on the sale of loans, net (1,229) (8,856) (8,998)
Pension contribution 0 0 (115)
Net change in:      
Mortgage loans originated for sale (35,848) (286,257) (361,704)
Proceeds from sale of mortgage loans 38,583 311,479 357,613
Net (increase) decrease in interest receivable (10,033) 3,561 (2,560)
Net increase (decrease) in interest payable 2,901 (2,087) (3,178)
Net (increase) decrease in other assets (24,628) 83,830 (144,898)
Net increase (decrease) in other liabilities 114,713 (35,569) 50,392
Net Cash Provided by Operating Activities 240,434 214,852 51,552
INVESTING ACTIVITIES      
Purchases of securities (401,054) (313,617) (178,389)
Proceeds from maturities, prepayments and calls of securities 160,830 144,905 205,606
Proceeds from sales of securities 30,490 1,917 1,349
Purchases of Federal Home Loan Bank stock (48,272) (22,515) (33,755)
Proceeds from redemption of Federal Home Loan Bank stock 34,757 26,026 43,702
Net (increase) decrease in loans (192,403) 173,401 (194,768)
Proceeds from the sale of portfolio loans 8,024 5,107 547
Purchases of premises and equipment (3,863) (3,611) (5,416)
Proceeds from the sale of premises and equipment 161 14 23
Proceeds from sale of other real estate owned 12,529 1,259 1,899
Proceeds from settlement of bank owned life insurance 214 353 0
Net Cash Provided by (Used in) Investing Activities (398,587) 13,239 (159,202)
FINANCING ACTIVITIES      
Net (decrease) increase in core deposits (623,076) 875,378 591,932
Net (decrease) in certificates of deposit (153,400) (299,292) (207,106)
Net (decrease) increase in securities sold under repurchase agreements (84,491) 19,328 45,275
Net increase (decrease) in short-term borrowings 370,000 (75,000) (206,319)
Repayments of long-term borrowings (7,689) (11,001) (27,187)
Repurchase of shares for taxes on restricted stock (808) (630) (594)
Repurchase of S&T stock (7,637) 0 (12,559)
Cash dividends paid to common shareholders (46,952) (44,325) (43,949)
Net Cash Provided by Financing Activities (554,053) 464,458 139,493
Net (decrease) increase in cash and cash equivalents (712,206) 692,549 31,843
Cash and cash equivalents at beginning of year 922,215 229,666 197,823
Cash and Cash Equivalents at End of Year 210,009 922,215 229,666
Supplemental Disclosures      
Cash paid for interest 22,068,000 15,236 44,353
Cash paid for income taxes, net of refunds 31,175 24,213 6,231
Loans transferred to held for sale 0 4,467 640
Leased right-of-use operating assets and lease liabilities added to Balance Sheet 0 2,987 91
Transfers to other real estate owned and other repossessed assets $ 23 $ 12,392 $ 631