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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 41,165 $ 40,484
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,719 6,080
Net amortization (accretion) of premiums (discounts) on securities 2,014 (2,681)
(Benefit) provision for credit losses (311) 8,410
Share-based compensation 1,809 1,929
Deferred income tax expense (benefit) 1,094 (486)
Proceeds from sale of loans held for sale 34,491 12,983
Originations of loans held for sale (35,184) (13,957)
Income on company owned life insurance (4,062) (2,974)
Net gain on sale of loans held for sale (432) (349)
Net gain on sale of assets of subsidiary (13,658) 0
Net loss (gain) on other assets 25 (31)
Non-cash restructuring recoveries against assets 0 (74)
Decrease (increase) in other assets 31,113 (26,976)
(Decrease) increase in other liabilities (13,672) 36,205
Net cash provided by operating activities 50,111 58,563
Cash flows from investing activities:    
Purchases of available for sale securities (131,401) 0
Purchases of held to maturity securities (1,059) (1,638)
Proceeds from principal payments, maturities and calls on available for sale securities 155,734 68,317
Proceeds from principal payments, maturities and calls on held to maturity securities 27,772 36,702
Net decrease (increase) in loans 53,242 (385,040)
Net proceeds from company owned life insurance 1 255
Proceeds from sale of assets of subsidiary 27,000 0
Purchases of premises and equipment (4,571) (1,739)
Net cash provided by (used in) investing activities 126,718 (283,143)
Cash flows from financing activities:    
Net increase in deposits 93,689 386,549
Net decrease in short-term borrowings (130,000) (135,000)
Proceeds from long-term borrowings 0 50,000
Purchases of common stock for treasury (422) (563)
Cash dividends paid to common and preferred shareholders (14,969) (14,761)
Net cash (used in) provided by financing activities (51,702) 286,225
Net increase in cash and cash equivalents 125,127 61,645
Cash and cash equivalents, beginning of period 124,442 130,466
Cash and cash equivalents, end of period $ 249,569 $ 192,111