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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:        
Net income     $ 26,462 $ 30,631
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     4,090 4,218
Net amortization of premiums on securities     1,792 2,736
Provision for credit losses $ 3,230 $ 563 7,444 2,882
Share-based compensation 657 947 1,208 1,390
Deferred income tax benefit     (510) (646)
Proceeds from sale of loans held for sale     7,791 18,768
Originations of loans held for sale     (7,812) (16,094)
Income on company owned life insurance (953) (869) (1,947) (1,702)
Net gain on sale of loans held for sale (122) (828) (234) (737)
Net loss on investment securities 0 15 0 15
Net gain on other assets 7 (7) (32) (7)
Non-cash restructuring (recoveries) charges against assets     (19) 1,269
Increase in other assets     (21,176) (14,393)
(Decrease) increase in other liabilities     (2,242) 53,454
Net cash provided by operating activities     14,815 81,784
Cash flows from investing activities:        
Purchases of available for sale securities     0 (75,269)
Purchases of held to maturity securities     (1,209) (36,035)
Proceeds from principal payments, maturities and calls on available for sale securities     43,342 68,269
Proceeds from principal payments, maturities and calls on held to maturity securities     30,077 36,265
Proceeds from sales of securities -available for sale 0 6,252 0 6,252
Net loan originations     (350,085) (84,329)
Purchases of company owned life insurance, net of proceeds received     (13) (10,011)
Purchases of premises and equipment     (1,232) (3,999)
Net cash used in investing activities     (279,120) (98,857)
Cash flows from financing activities:        
Net increase (decrease) in deposits     105,437 (6,574)
Net increase in short-term borrowings     169,000 79,000
Proceeds from long-term borrowings     50,000 0
Purchases of common stock for treasury     (563) (15,327)
Cash dividends paid to common and preferred shareholders     (9,787) (9,433)
Net cash provided by financing activities     314,087 47,666
Net increase in cash and cash equivalents     49,782 30,593
Cash and cash equivalents, beginning of period     130,466 79,112
Cash and cash equivalents, end of period $ 180,248 $ 109,705 $ 180,248 $ 109,705