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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 39,126 $ 39,846
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 596 (2,796)
Depreciation and amortization of premises and equipment 2,420 2,441
Net amortization on securities 1,036 1,477
Amortization of intangible assets 636 812
Amortization of operating lease right-of-use assets 1,688 1,821
Excess tax benefit on stock-based compensation (168) (107)
Stock-based compensation expense 2,472 2,668
Bank owned life insurance income (1,654) (1,381)
Amortization of subordinated debt issuance costs 109 110
Proceeds from sale of loans held for sale 2,106 13,877
Originations of loans held for sale (1,479) (13,943)
Net gain on sale of loans held for sale (60) (110)
Net security losses (gains) 179 (467)
Net gains on sale of other real estate owned (211) 0
Net change in other assets and other liabilities (11,652) (1,946)
Net cash provided by operating activities 35,144 42,302
Securities available for sale:    
Proceeds from maturities, calls and principal paydowns 72,281 95,274
Purchases (139,273) (158,196)
Securities held to maturity:    
Proceeds from maturities, calls and principal paydowns 29,028 66,282
Purchases (191,092) (42,760)
Other:    
Net increase in loans (153,963) (136,778)
Proceeds from Federal Home Loan Bank stock redemption 93 2,252
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock 0 (26)
Proceeds from settlement of bank owned life insurance 913 357
Purchases of premises and equipment, net (1,312) (901)
Proceeds from sales of other real estate owned 378 140
Net cash used in investing activities (382,947) (174,356)
Financing activities    
Net increase in deposits 227,154 734,238
Net decrease in short-term borrowings (32,773) (73,048)
Repayments of long-term debt (24) (25,027)
Proceeds from the issuance of shares to employee and other stock plans 0 112
Cash paid by employer for tax-withholding on stock issuance (1,210) (1,125)
Purchase of treasury stock (8,152) (9,020)
Cash dividends (12,083) (11,732)
Net cash provided by financing activities 172,912 614,398
Net (decrease) increase in cash and cash equivalents (174,891) 482,344
Cash and cash equivalents at beginning of period 1,269,071 672,681
Cash and cash equivalents at end of period 1,094,180 1,155,025
Cash paid during the period for:    
Interest expense 5,238 7,105
Income taxes paid, net of refund $ 2,448 $ 2,540