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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net income $ 28,604 $ 25,176 $ 30,404
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of intangible assets 859 859 563
Net amortization of premium/discount on investment securities 7,328 5,939 6,149
Depreciation 4,313 4,471 4,227
Gains on sales of securities (51) (1,075) (19)
Stock-based compensation expense 2,859 2,267 3,144
(Release of) provision for credit losses (130) 810 250
Deferred income tax (benefit) expense (698) (874) 1,247
Increase (decrease) in current income tax liability 206 1,237 (1,838)
(Decrease) increase in pension liability (1,811) 4,423 (1,916)
(Increase) decrease in accounts receivable (602) 756 988
Other operating activities, net (6,330) 3,792 (1,073)
Net cash provided by operating activities 34,547 47,781 42,126
Cash Flows From Investing Activities:      
Proceeds from sales of securities available-for-sale 63,774 21,943 4,648
Proceeds from maturities of securities available-for-sale 96,951 63,789 21,502
Purchases of securities available-for-sale (494,226) (20,043) 0
Net increase in loans (68,664) (119,183) (50,970)
Purchase of bank-owned life insurance (25,119) 0 0
(Increase) decrease in payments in advance of funding (96,864) 11,595 (45,381)
Purchases of premises and equipment, net (4,369) (2,001) (2,723)
Asset acquisition of Gateway Giving, LLC 0 0 (2,833)
Net cash used in investing activities (528,517) (43,900) (75,757)
Cash Flows From Financing Activities:      
Net increase in noninterest-bearing demand deposits 89,138 142,413 37,833
Net increase (decrease) in interest-bearing demand and savings deposits 90,310 166,289 (1,133)
Net decrease in time deposits (8,801) (14,982) (1,490)
Net increase (decrease) in accounts and drafts payable 215,016 210,495 (22,400)
Net (decrease) increase in short-term borrowings 0 (18,000) 18,000
Cash dividends paid (15,446) (15,599) (15,234)
Purchase of common shares for treasury (30,997) (6,825) (7,799)
Other financing activities, net (850) (1,098) (1,125)
Net cash provided by financing activities 338,370 462,693 6,652
Net (decrease) increase in cash and cash equivalents (155,600) 466,574 (26,979)
Cash and cash equivalents at beginning of year 670,528 203,954 230,933
Cash and cash equivalents at end of year 514,928 670,528 203,954
Supplemental information:      
Cash paid for interest 1,194 2,426 5,181
Cash paid for income taxes $ 5,637 $ 4,732 $ 7,604