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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 23,803 $ 19,615
Adjustments to reconcile net income to net cash provided by operating activities:    
Net change in loans held for sale (3,669) 1,950
Provision for credit losses 1,548 911
Net amortization of securities 1,202 1,532
Change in unamortized net loan costs and premiums 159 (1,556)
Premises and equipment depreciation 2,112 2,132
Stock-based compensation expense 683 94
Amortization of other intangibles 466 466
Income from cash surrender value of bank-owned life insurance policies (1,651) (1,005)
Gain on sales of securities, net (34) (9)
Amortization of right-of-use lease assets 597 593
Decrease in lease liabilities (582) (563)
Gain on premises and equipment, net (99) (65)
Net change in other assets and liabilities (12,153) (5,481)
Net cash provided by operating activities 12,382 18,614
Cash flows from investing activities:    
Proceeds from sales, maturities, calls and prepayments of securities available for sale 22,456 47,570
Purchases of securities available for sale (1,000) (77,408)
Net change in loans (104,995) (193,681)
Purchase of Federal Home Loan Bank stock (14,262) (461)
Proceeds from sale of Federal Home Loan Bank stock 11,371 1,273
Purchase of premises and equipment, net (2,194) (1,138)
Proceeds from death benefit of bank-owned life insurance policy 3,904  
Net cash (used in) provided by investing activities (84,720) (223,845)
Cash flows from financing activities:    
Net change in deposits 46,814 30,001
Net change in short-term borrowings 65,020 19,952
Repayments of long-term borrowings (10) (21,010)
Net issuance to employee stock plans 152 524
Cash dividends paid on common stock (8,148) (7,509)
Net cash provided by (used in) financing activities 103,828 21,958
Net change in cash and cash equivalents 31,490 (183,273)
Cash and cash equivalents at beginning of year 92,295 250,389
Cash and cash equivalents at end of period 123,785 67,116
Supplemental cash flow information:    
Interest paid 21,708 2,128
Income taxes paid, net $ 8,530 $ 4,418