XML 19 R8.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 42,930 $ 32,814
Adjustments to Reconcile Net Income to Net Cash from Operating Activities:    
Net Amortization on Securities 2,779 3,341
Depreciation and Amortization 4,840 5,250
Loans Originated for Sale (48,256) (98,293)
Proceeds from Sales of Loans Held-for-Sale 49,744 104,858
Provision for Credit Losses 1,650 5,500
Gain on Sale of Loans, net (1,217) (2,470)
Gain on Securities, net (40) (450)
Gain on Sales of Other Real Estate and Repossessed Assets 0 (19)
Gain on Disposition and Donation of Premises and Equipment 2 (28)
Increase in Cash Surrender Value of Company Owned Life Insurance (928) (908)
Equity Based Compensation 1,369 1,517
Change in Assets and Liabilities:    
Interest Receivable and Other Assets 601 6,508
Interest Payable and Other Liabilities (233) (7,299)
Net Cash from Operating Activities 53,241 50,321
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from Maturities of Securities Available-for-Sale 145,360 73,320
Proceeds from Sales of Securities Available-for-Sale 114,259 97,500
Purchase of Securities Available-for-Sale (82,933) (290,743)
Proceeds from Redemption of Federal Home Loan Bank Stock 181 7,867
Purchase of Loans (173) (1,063)
Proceeds from Sale of Loans Held for Investment 0 609
Loans Made to Customers, net of Payments Received (42,454) 33,504
Proceeds from Sales of Other Real Estate 0 89
Property and Equipment Expenditures (4,464) (5,211)
Proceeds from Life Insurance 0 773
Acquisition of Citizens Union Bancorp of Shelbyville, Inc. 0 207,764
Net Cash from Investing Activities 129,776 124,409
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in Deposits (170,162) 38,496
Change in Short-term Borrowings (1,487) (28,934)
Advances in Long-term Debt 25,000 0
Repayments of Long-term Debt (63) (41,632)
Dividends Paid (14,713) (13,505)
Net Cash from Financing Activities (161,425) (45,575)
Net Change in Cash and Cash Equivalents 21,592 129,155
Cash and Cash Equivalents at Beginning of Year 119,079 396,890
Cash and Cash Equivalents at End of Period 140,671 526,045
Cash Paid During the Period for    
Interest 24,353 4,831
Income Taxes 9,736 8,312
Supplemental Non Cash Disclosures    
Interest Rate Swap Fair Value Adjustment (637) 1,055
Supplemental Schedule for Investing Activities (Acquisition of CUB)    
Assets acquired, net of purchase consideration 0 945,160
Liabilities assumed 0 1,003,756
Goodwill $ 0 $ 58,596