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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net income $ 64,672 $ 73,792
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums, discounts and deferred loan fees and costs 4,052 4,264
Depreciation and amortization 3,734 4,071
Amortization of intangible assets 1,529 1,770
Amortization of operating lease right-of-use assets 3,044 3,098
Provision for credit losses 11,102 11,274
Loans originated for sale (36,761) (53,280)
Proceeds from sales of loans held for sale 37,054 61,449
Loss on equity securities 281 1,313
Income on bank owned life insurance (2,392) (2,376)
Gains on proceeds from bank owned life insurance policies (220) (742)
Gains on sales of loans held for sale (1,008) (2,496)
Gains on other real estate and other repossessed assets (15) (17)
Loss on sales of premises and equipment 0 218
Loss on sale of assets 41 0
Impairment of property held for sale 0 100
Stock-based compensation 3,832 3,807
Excess tax benefits 130 62
Increase in other assets (29,079) (68,258)
Increase in other liabilities 30,356 60,647
Net Cash Provided by Operating Activities 90,352 98,696
Cash Flows from Investing Activities:    
Net cash acquired in acquisitions 0 326,236
Proceeds from repayments and maturities of available for sale securities 87,761 111,966
Proceeds from repayments and maturities of held to maturity securities 82,971 108,875
Purchase of available for sale securities 0 (312,904)
Purchase of held to maturity securities (10,955) (99,249)
Purchase of equity securities (205) (1,125)
Death benefit proceeds from bank owned life insurance policy 716 1,825
Proceeds from redemptions of Federal Home Loan Bank stock 169,586 42,900
Purchases of Federal Home Loan Bank stock (180,683) (53,650)
Net increase in loans (424,352) (487,444)
Proceeds from sales of other real estate and repossessed assets 1,930 17
Proceeds from dispositions and sales of premises and equipment 0 598
Purchases of premises and equipment (4,289) (3,726)
Net Cash Used in Investing Activities (277,520) (365,681)
Cash Flows from Financing Activities:    
Net increase in deposits 35,171 61,788
(Decrease) increase in federal funds purchased and securities sold under agreements to repurchase (29) 251,334
Proceeds from long-term Federal Home Loan Bank of New York advances 300,000 0
Retirement of restricted stock (1,550) (1,075)
Dividends paid (28,549) (27,829)
Net Cash Provided by Financing Activities 305,043 284,218
Net increase in cash and cash equivalents 117,875 17,233
Cash and cash equivalents, beginning of period 235,950 228,530
Cash and cash equivalents, end of period 353,825 245,763
Supplemental schedule of non-cash investing and financing activities:    
Cash paid during the period for income taxes 20,409 24,829
Cash paid during the period for interest 140,405 28,163
Right-of-use assets obtained in exchange for new operating lease liabilities 467 739
Non-cash assets acquired:    
Federal Home Loan Bank stock 0 1,247
Investment securities available for sale 0 217,774
Investment securities held to maturity 0 124,485
Loans held for sale 0 4,620
Loans 0 1,095,266
Fixed Assets 0 13,748
Operating lease right-of-use assets 0 12,991
Goodwill and other intangible assets, net 0 124,570
Bank owned life insurance 0 37,580
Other assets 0 8,820
Total non-cash assets acquired 0 1,641,101
Liabilities assumed:    
Deposits 0 1,650,613
Subordinated debt 0 14,734
Operating lease liabilities 0 12,991
Other liabilities 0 3,257
Total liabilities assumed 0 1,681,595
Common stock issued $ 0 $ 285,742