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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 19,022 $ 20,807
Adjustments to Reconcile Net Income to Net Cash from Operating Activities:    
Net Amortization on Securities 1,403 1,407
Depreciation and Amortization 2,339 2,429
Loans Originated for Sale (29,017) (21,519)
Proceeds from Sales of Loans Held-for-Sale 24,575 24,736
Provision for Credit Losses 900 1,100
Gain on Sale of Loans, net (751) (587)
Gain on Securities, net (35) (2)
Loss (Gain) on Disposition and Donation of Premises and Equipment 2 (5)
Increase in Cash Surrender Value of Company Owned Life Insurance (454) (473)
Equity Based Compensation 524 539
Change in Assets and Liabilities:    
Interest Receivable and Other Assets 445 2,802
Interest Payable and Other Liabilities 4,900 232
Net Cash from Operating Activities 23,853 31,466
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from Maturities of Securities Available-for-Sale 39,122 39,970
Proceeds from Sales of Securities Available-for-Sale 62,162 93,752
Purchase of Securities Available-for-Sale (70,303) (1,967)
Proceeds from Redemption of Federal Home Loan Bank Stock 57 80
Loans Made to Customers, net of Payments Received (1,739) 15,109
Property and Equipment Expenditures (1,238) (1,916)
Net Cash from Investing Activities 28,061 145,028
CASH FLOWS FROM FINANCING ACTIVITIES    
Change in Deposits (33,578) (195,056)
Change in Short-term Borrowings (2,204) (12,837)
Advances in Long-term Debt 25,000 0
Repayments of Long-term Debt (25,037) (31)
Dividends Paid (7,955) (7,354)
Net Cash from Financing Activities (43,774) (215,278)
Net Change in Cash and Cash Equivalents 8,140 (38,784)
Cash and Cash Equivalents at Beginning of Year 115,330 119,079
Cash and Cash Equivalents at End of Period 123,470 80,295
Cash Paid During the Period for    
Interest 21,101 10,152
Income Taxes 0 0
Supplemental Non Cash Disclosures    
Interest Rate Swap Fair Value Adjustment $ 827 $ (1,963)