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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 39,699 $ 36,213 $ 22,301
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Gain on sales of mortgage loans (412)   (370)
Gain on sale of fixed assets     (11)
Net loss on other real estate owned 79    
Net gains on sales of securities (61) (302) (47)
Net (gain) loss on equity securities (92) 67  
Provision for loan losses 1,250 1,350 1,790
Deferred tax (expense) benefit (2,135) (1,766) 6,918
Net depreciation and amortization (2,382) 885 3,047
Decrease (increase) in accrued interest receivable 1,296 (3,227) (1,534)
(Increase) decrease in other assets 8,532 2,326 (16,310)
Increase in other liabilities 2,075 5,242 5,802
Net cash provided by operating activities 47,849 40,788 21,586
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from maturities of short-term investments     5,284
Purchase of short-term investments     (2,101)
Proceeds from redemptions of Federal Home Loan Bank of Boston stock 14,380 18,388 10,127
Purchase of Federal Home Loan Bank of Boston stock (15,877) (14,583) (10,864)
Proceeds from calls/maturities of securities available-for-sale 144,739 215,406 259,388
Proceeds from sales of securities available-for-sale 16,285 27,517 18,180
Purchase of securities available-for-sale (85,123) (183,588) (175,147)
Proceeds from calls/maturities of securities held-to-maturity 458,915 234,741 293,221
Purchase of securities held-to-maturity (757,997) (576,140) (337,773)
Proceeds from sales of securities held-to-maturity 1,193    
Proceeds from life insurance policies 5,461 375 115
Proceeds from sales of portfolio loans 22,120   26,701
Net increase in loans (162,415) (110,874) (278,242)
Bank owned life insurance purchases (33,664)    
Proceeds from sales of other real estate owned 2,146    
Proceeds from sales of fixed assets     11
Capital expenditures (13,144) (3,601) (3,244)
Net cash used in investing activities (402,981) (392,359) (194,344)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net (decrease) increase in time deposit accounts (5,132) (64,782) 147,002
Net decrease (increase) in demand, savings, money market and NOW deposits (1,721) 554,779 116,747
Cash dividends (2,207) (2,203) (2,200)
Net increase (decrease) in securities sold under agreements to repurchase 111,805 (4,750) (23,290)
Net increase (decrease) in other borrowed funds 168,577 (145,400) 54,778
Net cash provided by financing activities 271,322 337,644 293,037
Net (decrease) increase in cash and cash equivalents (83,810) (13,927) 120,279
Cash and cash equivalents at beginning of period 342,503 356,430 236,151
Cash and cash equivalents at end of period 258,693 342,503 356,430
Cash paid (received) during the period for:      
Interest 63,345 44,289 27,731
Income tax refunds (6,504)    
Income taxes   590 5,330
Change in unrealized losses on securities available-for-sale, net of taxes (314) 109 505
Change in unrealized losses on securities transferred to held-to-maturity, net of taxes 753 1,086 1,034
Pension liability adjustment, net of taxes $ (5,789) 4,937 $ (1,384)
Transfer of loans to other real estate owned   $ 2,225