XML 17 R6.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows From Operating Activities:    
Net income $ 15,847 $ 15,601
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,366 5,822
Net (gains) losses on sales of securities (19) 42
Stock-based compensation expense 1,417 1,477
Provision for loan losses 250
(Decrease) increase in income tax liability (1,054) 1,637
Increase in pension liability 2,590 2,463
(Increase) decrease in accounts receivable (1,351) 3,473
Other operating activities, net 3,327 (5,419)
Net cash provided by operating activities 26,373 25,096
Cash Flows From Investing Activities:    
Proceeds from sales of securities available-for-sale 4,648 58,520
Proceeds from maturities of securities available-for-sale 10,161 17,374
Purchase of securities available-for-sale (60,108)
Net increase in loans (68,934) (28,620)
Increase in payments in excess of funding (13,571) (14,733)
Purchases of premises and equipment, net (1,202) (2,800)
Net cash used in investing activities (68,898) (30,367)
Cash Flows From Financing Activities:    
Net decrease in noninterest-bearing demand deposits (54,176) (16,185)
Net decrease in interest-bearing demand and savings deposits (32,058) (40,588)
Net increase in time deposits 937 4,422
Net increase (decrease) in accounts and drafts payable 96,033 (36,538)
Cash dividends paid (7,548) (6,144)
Purchase of common shares for treasury (7,799) (1,408)
Other financing activities, net (284) (195)
Net cash used in financing activities (4,895) (96,636)
Net decrease in cash and cash equivalents (47,420) (101,907)
Cash and cash equivalents at beginning of period 230,933 228,110
Cash and cash equivalents at end of period 183,513 126,203
Supplemental information:    
Cash paid for interest 2,496 1,459
Cash paid for income taxes $ 4,545 $ 1,445