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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:        
Net income     $ 40,484 $ 44,485
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     6,080 6,038
Net (accretion) amortization of (discounts) premiums on securities     (2,681) 3,966
Provision for credit losses $ 966 $ 4,314 8,410 7,196
Share-based compensation 721 662 1,929 2,052
Deferred income tax benefit     (486) (1,532)
Proceeds from sale of loans held for sale     12,983 28,094
Originations of loans held for sale     (13,957) (22,921)
Income on company owned life insurance (1,027) (2,965) (2,974) (4,667)
Net gain on sale of loans held for sale (115) (308) (349) (1,045)
Net loss on investment securities 0 0 0 15
Net (gain) loss on other assets 1 22 (31) 15
Non-cash restructuring (recoveries) charges against assets     (74) 1,269
Increase in other assets     (26,976) (32,242)
Increase in other liabilities     36,205 86,705
Net cash provided by operating activities     58,563 117,428
Cash flows from investing activities:        
Purchases of available for sale securities     0 (75,269)
Purchases of held to maturity securities     (1,638) (37,384)
Proceeds from principal payments, maturities and calls on available for sale securities     68,317 101,014
Proceeds from principal payments, maturities and calls on held to maturity securities     36,702 44,890
Proceeds from sales of securities -available for sale 0 0 0 6,252
Net loan originations     (385,040) (189,315)
Net proceeds from (payments for) company owned life insurance     255 (35,521)
Proceeds received from surrender of company owned life insurance     0 25,522
Purchases of premises and equipment     (1,739) (5,641)
Net cash used in investing activities     (283,143) (165,452)
Cash flows from financing activities:        
Net increase in deposits     386,549 (78,064)
Net (decrease) increase in short-term borrowings     (135,000) 39,000
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     (14,761) (14,244)
Net cash provided by financing activities     286,225 87,493
Net increase in cash and cash equivalents     61,645 39,469
Cash and cash equivalents, beginning of period     130,466 79,112
Cash and cash equivalents, end of period $ 192,111 $ 118,581 $ 192,111 $ 118,581