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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net income $ 86,913,000 $ 71,408,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and (accretion), net 6,496,000 8,607,000
Provision for (recovery of) credit losses 3,543,000 (26,000)
Depreciation of premises and equipment 3,452,000 4,033,000
Deferred income tax (benefit) expense (1,491,000) 1,181,000
Net periodic employee benefit cost 39,000 192,000
(Losses) gains on sale of investment securities, net 110,000 (1,322,000)
Stock-compensation expense 2,407,000 2,412,000
Excess tax expense (benefit) from stock-compensation (203,000) (189,000)
Increase in value of bank-owned life insurance (4,819,000) (3,746,000)
Loans originated for sale (9,591,000) (29,139,000)
Proceeds from the sale of loans originated for sale 9,713,000 29,422,000
Gain on sale of loans (122,000) (283,000)
Change in accrued interest receivable (69,000) (1,629,000)
Change in other assets 12,068,000 (11,312,000)
Change in other liabilities (4,588,000) 9,136,000
Net Cash Provided by Operating Activities 104,044,000 81,767,000
Investing Activities    
Net decrease (increase) in loans (107,988,000) (85,289,000)
Purchases 56,734,000 488,401,000
Proceeds from sales of securities available-for-sale 103,249,000 0
Proceeds from maturities and calls 93,927,000 177,875,000
Purchases (5,970,000) (280,000)
Proceeds from sales 77,000 116,000
Proceeds from maturities and calls 747,000 0
Purchases of premises and equipment (2,392,000) (1,677,000)
Proceeds from the disposals of premises and equipment 283,000 189,000
Proceeds from bank-owned life insurance policies 207,000 3,623,000
Payments for low income housing tax credits (6,577,000) (2,144,000)
Acquisition of Citizens Commerce Bancshares, Inc. 14,013,000 0
Net Cash Provided by (Used in) Investing Activities 32,842,000 (395,988,000)
Financing Activities    
Net (decrease) increase in non-interest-bearing deposits (78,236,000) 56,156,000
Net (decrease) increase in interest-bearing deposits (145,344,000) (23,625,000)
Net (decrease) increase in short-term borrowings (18,793,000) (7,651,000)
Proceeds from long-term debt 100,000,000 0
Purchases of treasury stock (53,827,000) (20,015,000)
Proceeds from exercise of stock options 0 697,000
Lease payments (609,000) (572,000)
Dividends paid (29,361,000) (27,047,000)
Net Cash (Used in) Provided by Financing Activities (226,170,000) (22,057,000)
Decrease in Cash and Cash Equivalents (89,284,000) (336,278,000)
Cash and cash equivalents at beginning of period 200,000,000 634,631,000
Cash and Cash Equivalents at End of Period 110,716,000 298,353,000
Supplemental Cash Flow Information:    
Cash paid for interest 32,525,000 5,299,000
Cash paid for income taxes 26,162,000 17,834,000
Citizens Commerce Bancshares, Inc.    
Supplemental Cash Flow Information:    
Identifiable assets acquired (net of purchase consideration) 319,738,000 0
Liabilities assumed 307,113,000 0
Goodwill 41,175,000 0
Citizens Commerce Bancshares, Inc. | Core Deposits    
Supplemental Cash Flow Information:    
Core deposit intangible $ 8,278,000 $ 0